Property sales in Metro Vancouver dipped 15% below the 10-year average in October, however prices continue to trend above 2015. Overall detached property sales have seen the largest reduction in home buyer demand in recent months, while attached property sales continue to perform in seller's markets.  The Real Estate Board of Greater Vancouver reports that "changing market conditions compounded by a series of government interventions this year have put home buyers and sellers in a holding pattern.Potential buyers and sellers are taking a wait-and-see approach to try and better understand what these changes mean for them."

 

The median price of a single family home in Metro Vancouver* October 2016 vs October 2015 was:

• North Vancouver 7.3% higher
• West Vancouver 26.9% higher
• Vancouver West 10.2% higher
• Vancouver East 10% higher
• Richmond 14% higher
• Tsawwassen 6.5% higher
• Ladner 4.8% higher

 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. Let's talk! Regards, Dodi 604.644.3634

 

Here are the highlights for October: 

• October 2016 Metro Vancouver sales dropped 15% below the 10-year-average for the month 
• Sales of North Vancouver Detached Properties were 52.3% lower than October 2015 with 109% more inventory
• Sales of North Vancouver Attached Properties were 32.7% lower than October 2015 with 32.7% less inventory
• Sales of West Vancouver Detached Properties were 79% lower than October 2015 with 1% more inventory
• Sales of West Vancouver Attached Properties were 48% lower than October 2015 with 33.7% less inventory
• Sales of Downtown Condo Properties were 42.3% lower than October 2015 with 5.4% more inventory

Market types in October 2016: 

• Despite slower sales, Metro Vancouver's market type is a seller's market at 24.4% with 2.4 out of every 10 properties sold
• North Vancouver Detached properties is a balanced market at 20% with 62 sales out of 312 listings
• North Vancouver Attached properties is a seller's market at 52% with 103 sales out of 197 listings
• West Vancouver Detached properties is a buyer's market at 6% with 24 sales out of 418 listings
• West Vancouver Attached properties is a seller's market at 24% with 13 sales out of 55 listings
• Coal Harbour Condos are in a seller's market at 29% with 18 sales out of 63 listings

Read your full reports here: North Vancouver October 2016, West Vancouver October 2016, Vancouver West October 2016.

 

*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 November 1, 2016, from the Real Estate Board Of Greater Vancouver.