False Creek Real Estate Month in Review - June 2008

So what happened with False Creek real estate (this is for False Creek South) in June. I must apologize for taking so long to get this out this month. Despite the doom and gloom in the local papers though it was a pretty good month for False Creek real estate. Inventory dropped compared to May and a couple more homes were sold than in May. False Creek does look great in the sun and that can't have hurt. The stats were skewed a bit this month by the listing of the some of the units at the new Lumen development on the MLS®.

LISTED IN FALSE CREEK IN JUNE (last month's numbers in brackets)

Freehold Strata Units Listed: 14 (22)
Pre-paid Leasehold Strata Units Listed: 7 (9)
Non Pre-paid Leasehold Strata Units Listed: 2 (actually 1, but there was one listed as a "non-prepaid non strata" and I am pretty sure it is a strata so we'll say 2) (2)
Total Units Listed: 23 (33)

Total Listings Available as of June 30th: 56 (61)

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

Freehold Strata Units Sold: 5 (6,7)
Pre-paid Leasehold Strata Units Sold: 6 (3,4)
Non Pre-paid Leasehold Strata Units Sold: 0, (0,1)
Total Units Sold: 11 (9,12)

Average Days on Market: 37 (24,21)
Median Days on Market: 26 (17,14)

Average Sold Price: $490,781
Median Sold Price: $490,000

Absorption Rate: 5.09 months (6.7)
What is the absorption 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 any questions about False Creek real estate or a topic you'd like to see covered on the Comet please let me know. If you are interested in seeing what is for sale in False Creek you can always search for False Creek real estate here.

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