The Real Estate Board of Metro Vancouver reports:
"Metro Vancouver* home sales exceeded historical levels in October with the majority concentrated in the townhouse and apartment markets; last month's sales were 15% above the 10-year averages for October. Market conditions vary significantly based on property type. The detached market is well supplied with homes for sale, which is relieving pressure on prices. It remains a much different story in the townhouse and apartment markets, buyers here continue to face a limited supply and are seeing upward pressure on prices."
The Federal government's announcement of plans to tighten mortgage requirments for the seventh time in the last eight years also helped spur buyer activity in the short term. Many buyers are trying to enter the market before the changes are in place.
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 October 2017 vs October 2016 were:
- Metro Vancouver: +4% for a single family home, +22.7% for a condo, and +17.7% for a townhome
- North Vancouver: +2.1% for a single family home, +21.5% for a condo, and +15% for a townhome
- West Vancouver: -5.4% for a single family home and +18.5% for a condo
- Coal Harbour +11% for a condo
- Metro Vancouver's Detached properties is a balanced market at 16.4% with 955 sales out of 5,830 listings
- Metro Vancouver's Condo properties is a seller's market at 65.3% with 1,538 sales out of 2,355 listings
- Metro Vancouver's Townhome properties is a seller's market at 52.9% with 495 sales out of 936 listings
- North Vancouver Detached properties is a seller's market at 22.1% with 81 sales out of 367 listings
- North Vancouver Condo properties is a seller's market at 74.9% with 125 sales out of 167 listings
- North Vancouver Townhome properties is a seller's market at 71.2% with 37 sales out of 52 listings
- West Vancouver Detached properties is a buyer's market at 5.3% with 29 sales out of 552 listings
- West Vancouver Condo properties is a buyer's market at 13.6% with 8 sales out of 59 listings
- Coal Harbour Condos are in a seller's market at 48% with 26 sales out of 54 listings
Read your full October 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 November 2, 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.