False Creek Real Estate Month in Review

So what is happening in False Creek real estate? Like most areas there are more listings than there were and homes are taking longer to sell. The non pre-paid leasehold units remain extremely difficult to sell as uncertainty remains as to whether the increased lease payments will stick. All sellers must be priced well to sell quickly. Here are the numbers.

 LISTED IN FALSE CREEK IN MAY

Freehold Strata Units Listed: 22
Pre-paid Leasehold Strata Units Listed: 9
Non Pre-paid Leasehold Strata Units Listed: 2
Total Units Listed: 33

Total Listings Available as of May 31st: 61

 SOLD IN FALSE CREEK IN MAY (last month's numbers in brackets)

Freehold Strata Units Sold: 6 (7)
Pre-paid Leasehold Strata Units Sold: 3 (4)
Non Pre-paid Leasehold Strata Units Sold: 0 (1)
Total Units Sold: 9 (12)

Average Days on Market: 24 (21)
Median Days on Market: 17 (14)

Absorbtion Rate: 6.7 months

What is the absorbtion rate. It is the number of months that it would take to absorb, or sell, the present inventory of homes for sale.

If you have an questions about False Creek real estate or a topic you'd like to see covered on the Comet please let me know. Or search for False Creek real estate here.

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