The Real Estate Board of Metro Vancouver reports:
"Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residentail sales above the historical averages for September 2017. Last month we saw a 25.2% increase in sales over September 2016, and sales 13.1% above the 10-year September average. Detached sales made up 30% of all sales in September and represented 62% of all homes listed for sale on the MLS. This dynamic for detached homes has slowed the pace of upward pressure that we've seen on detached home prices over the last few years. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, currently we sit at 14.5% for detached homes in Metro Vancouver."
The key to success in any market is to be well prepared, and getting you ready for all market conditions is my top priority. 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 September 2017 vs September 2016 were:
- Metro Vancouver: +2.9% for a single family home, +21.7% for a condo, and +14.5% for a townhome
- North Vancouver: +1.9% for a single family home, +19.5% for a condo, and +7% for a townhome
- West Vancouver: -8.5% for a single family home and +15.2% for a condo
- Coal Harbour +11% for a condo
Market types for September 2017
- Metro Vancouver's Detched properties is a balanced market at 14.6% with 870 sales out of 6,093 listings
- Metro Vancouver's Condo properties is a seller's market at 59.6% with 1,456 sales out of 2,445 listings
- Metro Vancouver's Townhome properties is a seller's market at 48.2% with 459 sales out of 953 listings
- North Vancouver Detached properties is a balanced market at 19.7% with 74 sales out of 376 listings
- North Vancouver Condo properties is a seller's market at 69.2% with 108 sales out of 156 listings
- North Vancouver Townhome properties is a seller's market at 44.2% with 23 sales out of 52 listings
- West Vancouver Detached properties is a buyer's market at 6.4% with 35 sales out of 551 listings
- West Vancouver Condo properties is a seller's market at 31.5% with 17 sales out of 54 listings
- Coal Harbour Condos are in a seller's market at 35% with 21 sales out of 60 listings
Read your full September 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 current on October 6th, 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.