Despite slower sales than 2016's hot market, Metro Vancouver is still performing in a seller's market.The sales-to-active listing ratio for February 2017 is 31.9%, a 10-point increase from January. The Real Estate Board of Greater Vancouver reports, "While home sales are not happening at the pace we experienced last year, home seller supply is still struggling to keep up with today's demand. This is why we've seen little downward pressure on home prices, particularly in the condominium and townhome markets."

 

The MLS HPI Benchmark Price of residential properties in Metro Vancouver* February 2017 vs February 2016 were::

• North Vancouver +12.6% for a single family home, +16.1% for a condo, +17.3% for a townhome
• West Vancouver +8.3% for a single family home, +22.9% for a condo
• Vancouver West +13.9% for a single family home, +10.2% for a condo, +17.9% for a townhome
• Vancouver East  +12.6% for a single family home, +15.8% for a condo, +8.4% for a townhome
• Richmond +14% for a single family home, +20.3% for a condo, +19.4% for a townhome
• Tsawwassen +7.5% for a single family home, +17.8% for a condo, +16.7% for a townhome
• Ladner +6.8% for a single family home, +13.5% for a condo, +14.3% for a townhome

 

Market types in February 2017

• Despite slower sales, Metro Vancouver's market type is still a seller's market at 31.9% with 3.2 out of every 10 properties sold
• North Vancouver Detached properties is a sellers market at 34.1% with 88 sales out of 258 listings
• North Vancouver Attached properties is an accelerated seller's market at 77.5% with 124 sales out of 160 listings
• West Vancouver Detached properties is a buyer's market at 9% with 35 sales out of 390 listings
• West Vancouver Attached properties is a seller's market at 35% with 19 sales out of 54 listings
• Coal Harbour Condos are in a seller's market at 52% with 25 sales out of 48 listings

Read your full reports here: North Vancouver February 2017, West Vancouver February 2017, Vancouver West February 2017.

 

 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

 

*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 March 2, 2017 from the Real Estate Board of Greater Vancouver