Vancouver BC detached houses real estate market update for August 2017. Let’s take a look at the statistics for resale homes. New construction and strata properties are excluded. All graphs go back 3 years.
Average Sales Price
Average Sales Price of detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: $1,583,303 | +6.0% (change since August 2016)
Vancouver West: $4,314,645 | +8.8% (change since August 2016)
Average Percent of Original Price
Average Percent of Original Price of detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: 97.4% | -0.6% (change since August 2016)
Vancouver West: 95.9% | -0.1% (change since August 2016)
Total Inventory
Total Available Inventory of detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: 746 | +11.2% (change since August 2016)
Vancouver West: 739 | +9.3% (change since August 2016)
New Listings
All New Listings of detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: 201 | -14.1% (change since August 2016)
Vancouver West: 180 | -2.2% (change since August 2016)
Sales
Total Sales of detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: 110 | +41.0% (change since August 2016)
Vancouver West: 49 | -15.5% (change since August 2016)
Sales to Active Listing Ratio
Sales to Active Listings Ratio for detached houses in Vancouver BC in August 2017 (see graph below)
Vancouver East: 0.147 | +26.7% (change since August 2016)
Vancouver West: 0.066 | -23.3% (change since August 2016)
We see high inventory levels especially in Vancouver East. Most detached houses are selling 3-5% under the original asking price. It seems that Vancouver housing market is a buyer’s market. With a lot of available inventory it’s a good time to be a buyer.
