The Real Estate Board of Metro Vancouver reports
“The imbalance between supply and demand in the condominium market is creating home buyer competition across Metro Vancouver. Two distinct markets have emerged this summer. The detached home market has seen demand ease back to more typical levels while competition for condominiums is creating multiple offer scenarios and putting upward pressure on prices for that property type. Home buyers have more selection to choose from in the detached market today while condominium listings are near an all-time low on MLS®. Detached listings have increased every month this year, while the number of condominiums for sale has decreased each month since February"
With such strong condiitons for Seller's, the key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority in 2017! If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634
The MLS® HPI Benchmark Price of residential properties in June 2017 vs June 2016 were:
- North Vancouver +1.2% for a single family home, +16.6% for a condo, and +8% for a townhome
- West Vancouver -4.4% for a single family home, +21.5% for a condo
- Coal Harbour -4% for a condo
Market types in June 2017
- Metro Vancouver's Detched properties is a seller's market at 24.5% with 2.5 out of every 10 properties sold.
- Metro Vancouver's Condo properties is a seller's market at 93.2% with 9.2 out of every 10 properties sold
- Metro Vancouver's Townhome properties is a seller's market at 62% with 6.2 out of every 10 properties sold
- North Vancouver Detached properties is a sellers market at 36.6% with 122 sales out of 333 listings
- North Vancouver Condo properties is an accelerated seller's market at 127% with 127 sales out of 100 listings
- North Vancouver Townhome properties is an strong seller's market at 78.8% with 41 sales out of 52 listings
- West Vancouver Detached properties is a buyer's market at 13.1% with 64 sales out of 490 listings
- West Vancouver Condo properties is a seller's market at 38.9% with 21 sales out of 54 listings
- West Vancouver Townhome properties is a seller's market at 23.8% with 5 sales out of 21 listings
- Coal Harbour Condos are in a seller's market at 50% with 26 sales out of 52 listings
Read your full June reports here: North Vancouver, West Vancouver, Vancouver West
If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca
*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner
The accuracy and completeness of the information is not guaranteed. Data was captured on July 4, 2017 from the Real Estate Board of Greater Vancouver
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.