february 2013 vancouver real estate sales absorption report

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488 Drake Street, Vancouver, BC V6B 5S9 jefffitzpatrick.com | [email protected] | 604.612.6120 JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION VANCOUVER, BC | FEBRUARY 2013 Vancouver real estate market statistics to keep you ON TOP OF THE MARKET SALES ABSORPTION REPORT

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February 2013 month-end Vancouver real estate statistics for Downtown, North Vancouver, West Van, and Vancouver's East and West side.

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Page 1: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street, Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

VANCOUVER, BC | FEBRUARY 2013

Vancouver real estate market statistics to keep you

ON TOP OF THE MARKET

SALES ABSORPTION REPORT

Page 2: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 1

INTRODUCTION | FEBRUARY 2013

Our monthly sales absorption report is designed to keep you up-to-date and on top of the market. Every report analyzes the real estate markets

in North and West Vancouver, Downtown, and the East and West side of the city in terms of monthly sales, listings, and absorption rates. The

data is further broken down by price, residential type and the number of bedrooms. In addition to statistics, a graph presents the past two years

of sales, and a featured properties page showcases our most recent listings and sold properties. To help you better understand the contents of

the report, we’ve compiled a list of definitions and explanations of certain statistics terminology:

ACTIVE LISTINGS The number of properties on the market. This number only includes those listed on the Multiple Listing Service

(MLS); properties not listed on the MLS, such as “For Sale By Owner”, are not accounted for. This number is dynamic and constantly

changes; new properties get listed and others are sold, terminated, cancelled, or expire.

ATTACHED PROPERTY A property that shares a common wall with another property such as a condo, apartment, townhome, duplex,

triplex, etc.

DAYS ON MARKET (DOM) The number of days a listing is active on the MLS before it is sold. Our report showcases the average days

on market which is calculated by adding all the days on market of each listing and dividing it by the number of listings for that month. In a

buyer’s market, the DOM is generally higher because inventory takes longer to sell and in a seller’s market, the DOM is lower.

DETACHED PROPERTY A property with no shared walls; a free standing house.

MONTH’S SUPPLY The number of months it would take at the current absorption rate (see below), assuming no new properties are

listed, for all of the currently listed properties to sell. To calculate month’s supply, take the total number of active listings in a month

divided by the total number of sales in the month. The widely accepted equilibrium benchmark in the industry is 5 months’ supply. At 5

months’ supply, the buyers are absorbing the existing inventory at a rate that stabilizes pricing; ergo, the supply demand curves are at

equilibrium. A market with greater than 5 months’ supply is considered a buyer’s market and one with less than 5 months’ supply is a

seller’s market. For example, if the market had only 2 months’ worth of supply available, pricing would be trending up (in favour of

sellers, hence a “seller’s market”). Conversely, an environment with 10 months’ supply would be putting downward pressure on pricing

(benefiting buyers) as buyers have more variety of properties to select from.

SALES ABSORPTION RATE The rate at which homes sell in an area; the higher the absorption rate, the faster homes are selling. To

calculate the absorption rate, take the number of homes sold in a month and divide it by the total number of listings available that month.

YEAR OVER YEAR (YOY) This rate compares a time period (in this case a month) against the same time period last year. For example,

July 2012 compared to July 2011. It is calculated by taking the current data (absorption rate, sale prices...etc) minus the previous year’s

data, and then divided by the previous year’s data. The key advantage to this metric is that it automatically negates the effect of

seasonality.

As the real estate market is dynamic and constantly changing, this report and its contents are our best representation of the market at the time

the report was created. If you have any questions, suggestions on how we can make the report better, or would like to know where the market

is at this very moment, please give us a call anytime!

E. & O.E.: This information is from sources which we deem reliable, but must be verified by prospective Purchasers and may be subject to change or withdrawal. If your

property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. Independently Owned and Operated.

SALES

ABSORPTION

REPORT

Page 3: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 2

DOWNTOWN Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 1077 1189 10.40% 1471 -19.17% Number of Sales 73 110 50.68% 197 -44.16% Average Listing Price $668,354 $626,087 -6.32% $777,424 -19.47% Average Sale Price $643,171 $605,712 -5.82% $745,093 -18.71% Average DOM 57 48 -15.79% 45 6.67% Overall Absorption 6.78% 9.25% 36.49% 13.39% -30.92%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 74 8 10.81% 10.26% 5.41% 300,001 - 400,000 179 31 17.32% 23.67% -26.84% 400,001 - 500,000 201 22 10.95% 17.50% -37.46% 500,001 - 600,000 167 14 8.38% 9.62% -12.81% 600,001 - 700,000 95 10 10.53% 10.49% 0.35% 700,001 - 800,000 84 8 9.52% 13.19% -27.78% 800,001 - 900,000 63 3 4.76% 14.63% -67.46% 900,001 - 1,000,000 49 7 14.29% 13.79% 3.57% 1,000,001 - 1,250,000 62 2 3.23% 8.64% -62.67% 1,250,001 - 1,500,000 51 2 3.92% 10.81% -63.73% 1,500,001 - 1,750,000 30 1 3.33% 12.12% -72.50% 1,750,001 - 2,000,000 27 0 0.00% 13.64% -100.00% 2M+ 107 2 1.87% 6.16% -69.68% TOTAL 1189 110 9.25% 13.47% -31.29%

Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 50 4 8.00% 17.14% -53.33% 1 Bedroom 441 59 13.38% 14.80% -9.60% 2 Bedroom 589 42 7.13% 13.12% -45.66% 3 Bedroom+ 109 5 4.59% 8.40% -45.37% TOTAL 1189 110 9.25% 13.47% -31.29%

DOWNTOWN | FEBRUARY 2013

DOWNTOWN (ATTACHED ONLY)

• Includes Downtown, West End, Yaletown & Coal Harbour

• February’s overall absorption was 9.25%, which represents 10.80

months worth of supply (strong buyer’s market)

• Compared to last February, sales absorption rates are down

30.92%, from 13.39% in February 2012 to 9.25% in February 2013

• Average sale price in February was $605,712, a decrease of

$37,459 (-5.82%) from January’s average

• There were 112 more listings and 37 more sales than in January

• Most active properties were those listed between $400,000 -

500,000; least active were listings between $1,750,000 – 2M

• Average DOM in February was 48 days; properties sold 9 days

faster than in January

Page 4: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 3

VANCOUVER WESTSIDE | FEBRUARY 2013

DETACHED Jan 2012 Feb 2013 % Change Feb 2012 YOY

Active Listings 887 1047 18.04% 1079 -2.97% Number of Sales 53 78 47.17% 177 -55.93% Average Listing Price $2,618,113 $3,197,634 22.14% $2,727,747 17.23% Average Sale Price $2,444,509 $2,943,990 20.43% $2,647,094 11.22% Average DOM 57 34 -40.35% 31 9.68% Overall Absorption 0.34% 7.45% 2091.13% 16.40% -54.59%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 5 0 0.00% 50.00% -100.00% 800,001 - 900,000 2 0 0.00% 0.00% 0.00% 900,001 - 1,000,000 3 1 33.33% 33.33% 0.00% 1,000,001 - 1,250,000 27 5 18.52% 28.57% -35.19% 1,250,001 - 1,500,000 62 6 9.68% 29.09% -66.73% 1,500,001 - 1,750,000 75 14 18.67% 40.26% -53.63% 1,750,001 - 2,000,000 92 8 8.70% 21.21% -59.01% 2,000,001 - 2,250,000 66 5 7.58% 13.64% -44.44% 2,250,001 - 2,500,000 134 12 8.96% 18.10% -50.51% 2,500,001 - 2,750,000 85 7 8.24% 20.65% -60.12% 2,750,001 - 3,000,000 99 1 1.01% 14.29% -92.93% 3 - 4M 200 7 3.50% 8.07% -56.64% 4M+ 197 13 6.60% 10.22% -35.44% TOTAL 1047 79 7.55% 16.65% -54.69%

Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 28 3 10.71% 13.64% -21.43% 3 Bedroom 94 9 9.57% 28.16% -65.99% 4 Bedroom 223 26 11.66% 19.78% -41.06% 5 Bedroom+ 702 39 5.56% 13.68% -59.40% TOTAL 1047 77 7.35% 16.65% -55.83%

ATTACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 1037 1174 13.21% 1159 1.29% Number of Sales 66 101 53.03% 176 -42.61% Average Listing Price $726,114 $719,814 -0.87% $679,581 5.92% Average Sale Price $693,596 $699,586 0.86% $664,996 5.20% Average DOM 63 34 -46.03% 39 -12.82% Overall Absorption 6.36% 8.60% 35.17% 15.19% -43.35%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 54 4 7.41% 15.00% -50.62% 300,001 - 400,000 168 19 11.31% 23.90% -52.68% 400,001 - 500,000 194 22 11.34% 18.34% -38.18% 500,001 - 600,000 161 18 11.18% 15.89% -29.66% 600,001 - 700,000 132 8 6.06% 11.41% -46.88% 700,001 - 800,000 99 11 11.11% 9.18% 20.99% 800,001 - 900,000 110 12 10.91% 17.44% -37.45% 900,001 - 1,000,000 60 7 11.67% 9.86% 18.33% 1,000,001 - 1,250,000 72 5 6.94% 20.24% -65.69% 1,250,001 - 1,500,000 53 3 5.66% 10.61% -46.63% 1,500,001 - 1,750,000 25 3 12.00% 8.70% 38.00% 1,750,001 - 2,000,000 14 0 0.00% 12.50% -100.00% 2M+ 32 3 9.38% 3.13% 200.00% TOTAL 1174 115 9.80% 15.38% -36.33%

Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 12 0 0.00% 17.24% -100.00% 1Bedroom 358 32 8.94% 17.65% -49.35% 2 Bedroom 590 63 10.68% 15.00% -28.81% 3 Bedroom+ 214 20 9.35% 12.50% -25.23% TOTAL 1174 115 9.80% 15.38% -36.33%

ATTACHED

• Excludes Downtown, West End, Yaletown & Coal Harbour

• Overall absorption was 8.60%, which represents 11.62 months

worth of supply (strong buyer’s market)

• Compared to last February, sales absorption rates are down

43.35%, from 15.19% in February 2012 to 8.60% in 2013

• Average sale price in February was $699,586, an increase of

$5,990 (0.86%) from January’s average

• Average DOM in February was 34 days; properties sold 29

days faster than in January

DETACHED

• Excludes Downtown, West End, Yaletown & Coal Harbour

• Absorption in February was 7.54%, which represents 13.42

months worth of supply (strong buyer’s market)

• Compared to February 2012, sales absorption rates are down

by 54.59%, from 16.40% to 7.54% in February 2013

• Average sale price in February was $2,943,900, an increase of

$499,391 (20.43%) from January’s average

• Average DOM in January was 34 days; properties sold 23 days

faster than in January

VANCOUVER

WESTSIDE

Page 5: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 4

VANCOUVER EASTSIDE | FEBRUARY 2013

ATTACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 693 739 6.64% 773 -4.40% Number of Sales 56 47 -16.07% 141 -66.67% Average Listing Price $452,432 $450,757 -0.37% $443,852 1.56% Average Sale Price $443,483 $439,348 -0.93% $438,317 0.24% Average DOM 62 47 -24.19% 56 -16.07% Overall Absorption 8.08% 6.36% -21.30% 18.24% -65.13%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 250,000 80 8 10.00% 20.00% -50.00% 250,001 - 300,000 109 5 4.59% 16.80% -72.70% 300,001 - 400,000 209 10 4.78% 16.93% -71.74% 400,001 - 500,000 110 12 10.91% 18.66% -41.53% 500,001 - 600,000 61 1 1.64% 22.95% -92.86% 600,001 - 700,000 79 5 6.33% 29.82% -78.78% 700,001 - 800,000 45 4 8.89% 16.33% -45.56% 800,001 - 900,000 22 2 9.09% 9.52% 100.00% 900,001 - 1,000,000 6 0 0.00% 0.00% 0.00% 1,000,001 - 1,250,000 10 0 0.00% 14.29% 0.00% 1,250,001 - 1,500,000 2 0 0.00% 0.00% 0.00% 1,500,001 - 1,750,000 2 0 0.00% 0.00% 0.00% 1,750,001 - 2,000,000 4 0 0.00% - - 2M+ 0 0 - - - TOTAL 739 47 6.36% 18.29% -65.22%

Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 22 0 0.00% 27.27% -100.00% 1 Bedroom 291 22 7.56% 14.70% -48.56% 2 Bedroom 264 16 6.06% 18.03% -66.39% 3 Bedroom+ 162 9 5.56% 25.95% -78.59% TOTAL 739 47 6.36% 18.29% -65.22%

DETACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 540 638 18.15% 656 -2.74% Number of Sales 30 49 63.33% 125 -60.80% Average Listing Price $927,336 $940,891 1.46% $915,008 2.83% Average Sale Price $884,006 $911,045 3.06% $910,995 0.01% Average DOM 73 21 -71.23% 41 -48.78% Overall Absorption 5.56% 7.68% 38.24% 19.05% -59.69%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 500,000 1 0 0.00% 50.00% -100.00% 500,001 - 600,000 7 1 14.29% 22.22% -35.71% 600,001 - 700,000 39 4 10.26% 14.71% -30.26% 700,001 - 800,000 99 17 17.17% 24.21% -29.07% 800,001 - 900,000 100 11 11.00% 25.93% -57.57% 900,001 - 1,000,000 95 11 11.58% 15.29% -24.29% 1,000,001 - 1,250,000 140 9 6.43% 16.19% -60.29% 1,250,001 - 1,500,000 84 2 2.38% 5.33% -55.36% 1,500,001 - 1,750,000 37 2 5.41% 7.14% -24.32% 1,750,001 - 2,000,000 24 0 0.00% 0.00% 0.00% 2M+ 12 0 0.00% 0.00% 0.00% TOTAL 638 57 8.93% 17.09% -47.71%

Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 32 8 25.00% 30.23% -17.31% 3 Bedroom 59 5 8.47% 27.94% -69.67% 4 Bedroom 107 18 16.82% 23.21% -27.53% 5 Bedroom+ 440 26 5.91% 15.95% -62.96% TOTAL 638 57 8.93% 19.44% -54.04%

ATTACHED

• Overall absorption for February was 6.36%, which represents

15.72 months of supply (strong buyer’s market)

• Absorption rates are down 65.13% in February from a year

earlier, from 18.24% in 2013 to 6.36% in 2012

• Average sale price in February was $439,349, a decrease of

$4,135 (-0.93%) from January’s average

• There was 46 more listing and 9 less sales when compared to

September

• Average DOM was 47 days; properties sold 15 days faster in

February than in January

DETACHED

• February’s absorption rate was 7.68%, which represents

13.02 months worth of supply (strong buyer’s market)

• Compared to last February, sales absorption rates are down

59.69% from 19.05% in February 2012 to 7.68% in 2013

• Average sale price in February was $911,045, an increase of

$27,039 (3.06%) from September’s average

• February had 98 more listings and 19 more sales than

January

• Average DOM in February was 21 days; properties took 52

days faster to sell compared to January

VANCOUVER

EASTSIDE

Page 6: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 5

NORTH VANCOUVER | FEBRUARY 2013

NORTH

VANCOUVER

ATTACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 527 622 18.03% 649 -4.16% Number of Sales 42 70 66.67% 106 -33.96% Average Listing Price $460,133 $492,465 7.03% $480,405 2.51% Average Sale Price $449,138 $479,676 6.80% $470,452 1.96% Average DOM 62 52 -16.13% 48 8.33% Overall Absorption 7.97% 11.25% 41.21% 16.33% -31.10%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 115 13 11.30% 17.20% -34.29% 300,001 - 400,000 155 23 14.84% 22.28% -33.41% 400,001 - 500,000 99 9 9.09% 15.84% -42.61% 500,001 - 600,000 94 9 9.57% 9.52% 0.53% 600,001 - 700,000 61 7 11.48% 16.00% -28.28% 700,001 - 800,000 46 0 0.00% 7.69% -100.00% 800,001 - 900,000 28 4 14.29% 15.63% -8.57% 900,001 - 1,000,000 8 2 25.00% 16.67% 50.00% 1,000,001 - 1,250,000 9 3 33.33% 18.18% 83.33% 1,250,001 - 1,500,000 2 0 0.00% 0.00% 0.00% 1,500,001 - 1,750,000 2 0 0.00% 0.00% 0.00% 1,750,001 - 2,000,000 2 0 0.00% 0.00% 0.00% 2M+ 1 0 0.00% 0.00% 0.00% TOTAL 622 70 11.25% 16.33% -31.10%

Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 9 1 11.11% 0.00% 11.11% 1 Bedroom 187 20 10.70% 16.83% -36.46% 2 Bedroom 290 29 10.00% 14.60% -31.49% 3 Bedroom+ 136 20 14.71% 21.19% -30.59% TOTAL 622 70 11.25% 16.33% -31.10%

DETACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 393 483 22.90% 385 25.45% Number of Sales 37 63 70.27% 103 -38.83% Average Listing Price $1,055,472 $1,044,673 -1.02% $1,103,451 -5.33% Average Sale Price $1,032,640 $1,017,193 -1.50% $1,086,759 -6.40% Average DOM 56 36 -35.71% 33 9.09% Overall Absorption 9.41% 13.04% 38.54% 26.75% -51.25%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 59 20 33.90% 29.31% 15.65% 800,001 - 900,000 70 11 15.71% 38.46% -59.14% 900,001 - 1,000,000 63 10 15.87% 31.82% -50.11% 1,000,001 - 1,250,000 86 11 12.79% 34.12% -62.51% 1,250,001 - 1,500,000 71 3 4.23% 17.57% -75.95% 1,500,001 - 1,750,000 46 4 8.70% 22.22% -60.87% 1,750,001 - 2,000,000 40 3 7.50% 0.00% 0.00% 2,000,001 - 2,250,000 9 0 0.00% 28.57% 0.00% 2,250,001 - 2,500,000 17 1 5.88% 10.00% -41.18% 2,500,001 - 2,750,000 7 0 0.00% 0.00% 0.00% 2,750,001 - 3,000,000 5 0 0.00% 16.67% 0.00% 3 - 4M 1 0 0.00% 0.00% - 4M+ 9 0 0.00% 0.00% 0.00% TOTAL 483 63 13.04% 26.55% -50.87%

Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 25 7 28.00% 21.43% 30.67% 3 Bedroom 80 10 12.50% 35.00% -64.29% 4 Bedroom 164 22 13.41% 33.04% -59.39% 5 Bedroom+ 214 24 11.21% 19.05% -41.12% TOTAL 483 63 13.04% 26.55% -50.87%

ATTACHED

• Overall absorption was 11.25%, which represents 8.88

months worth of supply (buyer’s market)

• February sales absorption rates are down 31.10% from a

year earlier, from 16.33% in 2012 to 11.25% in 2013

• Average selling price in February was $479,676 an increase

of $30,538 (6.80%) from January’s average

• There was 95 more listings and 28 more sales than January

• Average DOM in February was 52 days; properties sold 10

days faster than in January

DETACHED

• February’s absorption rate was 13.04%, which represents 7.6

months worth of supply (buyer’s market)

• Compared to last February, sales absorption rates are down

51.25% from 26.75% in February 2012 to 13.04% in 2013

• Average sale price in February was $1,017,193, a decrease of

$15,447 (-1.50%) from January’s average

• There was 90 more listings and 26 more sales than January

• Average DOM was 36 days; properties sat on the market for

20 days less than in January

Page 7: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 6

WEST VANCOUVER | FEBRUARY 2013

WEST

VANCOUVER

ATTACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 182 206 13.19% 163 26.38% Number of Sales 7 14 100.00% 27 -48.15% Average Listing Price $835,342 $1,299,571 55.57% $822,188 58.06% Average Sale Price $793,625 $1,216,142 53.24% $804,553 51.16% Average DOM 132 83 -37.12% 59 40.68% Overall Absorption 3.85% 6.80% 76.70% 16.56% -58.97%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 6 0 0.00% 16.67% -100.00% 300,001 - 400,000 10 0 0.00% 25.00% -100.00% 400,001 - 500,000 15 1 6.67% 18.18% -63.33% 500,001 - 600,000 20 2 10.00% 14.29% -30.00% 600,001 - 700,000 22 0 0.00% 25.00% -100.00% 700,001 - 800,000 19 0 0.00% 15.79% -100.00% 800,001 - 900,000 20 1 5.00% 37.50% -86.67% 900,001 - 1,000,000 13 0 0.00% 7.14% -100.00% 1,000,001 - 1,250,000 19 5 26.32% 7.14% 268.42% 1,250,001 - 1,500,000 26 2 7.69% 18.75% -58.97% 1,500,001 - 1,750,000 13 1 7.69% 14.29% -46.15% 1,750,001 - 2,000,000 7 1 14.29% 0.00% 14.29% 2M+ 16 1 6.25% 0.00% 0.00% TOTAL 206 14 6.80% 16.27% -58.22%

Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 7 1 14.29% 0.00% 0.00% 1 Bedroom 27 0 0.00% 8.33% -100.00% 2 Bedroom 112 11 9.82% 17.89% -45.12% 3 Bedroom+ 60 2 3.33% 19.05% -82.50% TOTAL 206 14 6.80% 16.27% -58.22%

DETACHED Jan 2013 Feb 2013 % Change Feb 2012 YOY

Active Listings 483 555 14.91% 495 12.12% Number of Sales 33 27 -18.18% 68 -60.29% Average Listing Price $2,286,787 $2,515,370 10.00% $2,509,408 0.24% Average Sale Price $2,135,545 $2,341,259 9.63% $2,366,611 -1.07% Average DOM 65 35 -46.15% 53 -33.96% Overall Absorption 6.83% 4.86% -28.80% 13.74% -64.59%

Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 20 1 5.00% 20.00% -75.00% 800,001 - 900,000 8 2 25.00% 20.00% 25.00% 900,001 - 1,000,000 10 0 0.00% 18.18% 100.00% 1,000,001 - 1,250,000 32 1 3.13% 18.18% -82.81% 1,250,001 - 1,500,000 64 6 9.38% 32.56% -71.21% 1,500,001 - 1,750,000 42 3 7.14% 14.71% -51.43% 1,750,001 - 2,000,000 56 3 5.36% 17.39% -69.20% 2,000,001 - 2,250,000 14 1 7.14% 27.27% -73.81% 2,250,001 - 2,500,000 38 2 5.26% 15.15% -65.26% 2,500,001 - 2,750,000 32 1 3.13% 21.43% -85.42% 2,750,001 - 3,000,000 44 0 0.00% 11.43% -100.00% 3M - 4M 72 1 1.39% 3.75% -62.96% 4M+ 123 6 4.88% 6.50% -25.00% TOTAL 555 27 4.86% 13.82% -64.80%

Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 35 2 5.71% 17.24% -66.86% 3 Bedroom 110 7 6.36% 13.98% -54.48% 4 Bedroom 184 8 4.35% 18.63% -76.67% 5 Bedroom+ 226 10 4.42% 9.57% -53.76% TOTAL 555 27 4.86% 13.82% -64.80%

ATTACHED

• February’s overall absorption was 6.80%, which represents

14.71 months worth of supply (very strong buyer’s market)

• Compared to last February, sales absorption rates are down

58.97% from 16.56% in February 2012 to 4.80% in 2013

• Average sale price in February was $1,216,142, an increase of

$425,517 (53.24%) from January’s average

• There was 24 more listings and 7 more sales than in January

• Average DOM in February was 83 days; properties sat on the

market for 49 days less than in January

DETACHED

• Overall absorption in February was 4.86%, which represents

20.55 months of supply (strong buyer’s market)

• Sales absorption rates are down 64.59% in February from a

year earlier, from 13.74% in 2012 to 4.86% in 2013

• Average sale price was $2,341,259, an increase of $205,714

(9.63%) from January’s average

• There was 72 more listings and 6 more sales than in January

• Average DOM was 35 days; properties sat on the market for

30 less days than in January

Page 8: February 2013 Vancouver Real Estate Sales Absorption Report

488 Drake Street Vancouver, BC V6B 5S9

jefffitzpatrick.com | [email protected] | 604.612.6120

JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION

| 7

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