Month: December 2017

Burnaby BC Condo Market Update for Burnaby BC – November 2017

Oleg First time buyers, For Buyers, For Sellers, Market update, Statistics

Average Sales Price

Average Sales Price of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: $486,300 | +9.3% (change since November 2016)

Burnaby North: $444,990 | +37.0% (change since November 2016)

Burnaby South: $485,474 | +36.1% (change since November 2016)

Average Percent of Original Price

Average Percent of Original Asking Price of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: 106.6% | +7.8% (change since November 2016)

Burnaby North: 103.0% | +4.0% (change since November 2016)

Burnaby South: 102.2% | +2.8% (change since November 2016)

Average Price Per Square Foot

Average Price Per Square Foot of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: $754 | +17.4% (change since November 2016)

Burnaby North: $653 | +28.8% (change since November 2016)

Burnaby South: $796 | +38.0% (change since November 2016)

Total Inventory

Total Inventory of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: 3 | -66.7% (change since November 2016)

Burnaby North: 12 | -53.8% (change since November 2016)

Burnaby South: 29 | +52.6% (change since November 2016)

New Listings

New Listings of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: 5 | +25.0% (change since November 2016)

Burnaby North: 26 | +73.3% (change since November 2016)

Burnaby South: 36 | +157.1% (change since November 2016)

Total Sales

Total Sales of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: 5 | +400.0% (change since November 2016)

Burnaby North: 37 | +94.7% (change since November 2016)

Burnaby South: 26 | +13.0% (change since November 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of one bedroom and studio condos in Burnaby in November 2017 (see graph below)

Burnaby East: 1.667 | +1,401.8% (change since November 2016)

Burnaby North: 3.083 | +321.8% (change since November 2016)

Burnaby South: 0.897 | -25.9% (change since November 2016)

Real Estate Market Update for Burnaby BC Detached Houses – November 2017

Oleg First time buyers, For Buyers, For Sellers, Market update, Statistics

Here is a detailed breakdown of the detached housing market in Burnaby BC. Statistics only include resale detached houses. New construction and condos aren’t included.

MLS Home Price Index

MLS Home Price Index of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: $1,266,500 | +8.1% (change since November 2016)

Burnaby North: $1,564,300 | +2.9% (change since November 2016)

Burnaby South: $1,686,300 | +2.7% (change since November 2016)

Average Sales Price

Average Sales Price of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: $1,280,786 | +4.8% (change since November 2016)

Burnaby North: $1,717,345 | +16.2% (change since November 2016)

Burnaby South: $1,648,404 | -3.5% (change since November 2016)

Average Percent of Original Price

Average Percent of Original Asking Price of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: 96.4% | +1.4% (change since November 2016)

Burnaby North: 95.9% | +2.9% (change since November 2016)

Burnaby South: 94.4% | -0.7% (change since November 2016)

Total Inventory

Total Inventory of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: 65 | +25.0% (change since November 2016)

Burnaby North: 171 | -4.5% (change since November 2016)

Burnaby South: 218 | -4.0% (change since November 2016)

New Listings

All New Listings of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: 18 | +38.5% (change since November 2016)

Burnaby North: 51 | +54.5% (change since November 2016)

Burnaby South: 58 | +18.4% (change since November 2016)

Sales

Total Sales of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: 7 | -36.4% (change since November 2016)

Burnaby North: 31 | +40.9% (change since November 2016)

Burnaby South: 28 | +86.7% (change since November 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of detached houses in Burnaby in November 2017 (see graph below)

Burnaby East: 0.108 | -49.1% (change since November 2016)

Burnaby North: 0.181 | +47.2% (change since November 2016)

Burnaby South: 0.128 | +93.9% (change since November 2016)

In conclusion, Burnaby housing market is a balanced market. Total Inventory and sales figures are average for the season. Average sales prices are “frozen” for the most part, in the last few months.

Downtown Vancouver Real Estate Market Update for November 2017 (1 bedroom & studio)

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Let’s take a look at one bedroom and studio condo market in Downtown Vancouver. We will only look at the resale market, new construction units are excluded.

Average Sales Price

Average Sales Price of ONE bedroom condo units in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: $949,654 | +57.2% (change since November 2016)

Downtown VW: $677,564 | +24.2% (change since November 2016)

West End: $812,839 | +19.3% (change since November 2016)

Yaletown: $600,800 | +23.2% (change since November 2016)

Average Percent of Original Price

Average Percent of Original Asking Price for ONE bedroom condo units in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: 99.2% | +2.5% (change since November 2016)

Downtown VW: 105.7% | +5.9% (change since November 2016)

West End: 101.2% | +3.7% (change since November 2016)

Yaletown: 99.8% | -1.2% (change since November 2016)

 

Average Price Per Square Foot

Average Price Per Square Foot for ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: $1,526 | +59.0% (change since November 2016)

Downtown VW: $1,143 | +26.0% (change since November 2016)

West End: $1,170 | +18.7% (change since November 2016)

Yaletown: $979 | +18.1% (change since November 2016)

Total Inventory

Total Inventory of ONE bedroom and studio condo units in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: 12 | -50.0% (change since November 2016)

Downtown VW: 56 | -65.0% (change since November 2016)

West End: 23 | -51.1% (change since November 2016)

Yaletown: 27 | -44.9% (change since November 2016)

New Listings

All New Listings of ONE bedroom and studio condo units in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: 11 | +37.5% (change since November 2016)

Downtown VW: 66 | +26.9% (change since November 2016)

West End: 26 | -13.3% (change since November 2016)

Yaletown: 28 | -3.4% (change since November 2016)

Sales

Total Sales of ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: 9 | +125.0% (change since November 2016)

Downtown VW: 50 | +19.0% (change since November 2016)

West End: 28 | +27.3% (change since November 2016)

Yaletown: 30 | +50.0% (change since November 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)

Coal Harbour: 0.750 | +349.1% (change since November 2016)

Downtown VW: 0.893 | +239.5% (change since November 2016)

West End: 1.217 | +160.0% (change since November 2016)

Yaletown: 1.111 | +172.3% (change since November 2016)

In conclusion, Downtown Vancouver condo market is still a very strong seller’s market. A lot of units are selling over the asking price. We smallest inventory numbers in years. Prices are continuously climbing up month-after-month. This condo market is not showing any signs of slowing down.

Real Estate Market Update – Vancouver Detached Housing Market for November 2017

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Here is a closer look at the detached housing market in Vancouver BC in November 2017. We will only consider resale houses. New construction and condo units are not included.

MLS Home Price Index

MLS Home Price Index of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: $1,573,500 | +6.7% (change since November 2016)

Vancouver West: $3,573,700 | +1.5% (change since November 2016)

Average Sales Price

Average Sales Price of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: $1,564,770 | +8.9% (change since November 2016)

Vancouver West: $3,749,045 | -2.4% (change since November 2016)

Average Percent Of Original Price

Average Percent of Original Asking Price of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: 96.5% | +2.6% (change since November 2016)

Vancouver West: 93.2% | +0.5% (change since November 2016)

Total Inventory

Total Inventory of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: 750 | -0.7% (change since November 2016)

Vancouver West: 731 | +17.7% (change since November 2016)

New Listings

New Listings of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: 209 | +2.5% (change since November 2016)

Vancouver West: 133 | +12.7% (change since November 2016)

Sales

Total Sales of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: 88 | +14.3% (change since November 2016)

Vancouver West: 79 | +23.4% (change since November 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio of detached houses in Vancouver BC in November 2017 (see graph below)

Vancouver East: 0.117 | +14.7% (change since November 2016)

Vancouver West: 0.108 | +4.9% (change since November 2016)

In conclusion, Vancouver East and Vancouver West detached housing market are both balanced markets. Housing prices are for the most part staying flat. Inventory and sales levels are average for the season.