Market update

Vancouver Detached Housing Market Real Estate Update – September 2017

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Vancouver Detached Housing Market Real Estate Update – September 2017

vancouver housing market update september 2017

Here are statistics for the Vancouver detached housing market for September 2017. We will look at resale properties only. No new construction. Strata units such as condos and townhouses have a separate market update.

Average Sales Price

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

Vancouver East: $1,639,802 | +3.1% (change since September 2016)

Vancouver West: $4,105,927 | +10.9% (change since September 2016)

Average Percent of Original Price

Average Percent of Original Price for the detached houses in Vancouver BC in September 2017 (see graph below)

Vancouver East: 98.0% | +0.1% (change since September 2016)

Vancouver West: 93.5% | -1.0% (change since September 2016)

Total Inventory

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

Vancouver East: 765 | +6.4% (change since September 2016)

Vancouver West: 810 | +12.5% (change since September 2016)

New Listings

All new listings of detached houses in Vancouver BC in September 2017 (see graph below)

Vancouver East: 264 | -7.7% (change since September 2016)

Vancouver West: 302 | +25.8% (change since September 2016)

Sales

All sales of detached houses in Vancouver BC in September 2017 (see graph below)

Vancouver East: 91 | +35.8% (change since September 2016)

Vancouver West: 73 | +17.7% (change since September 2016)

Sales to Actives Ratio

All sales to active listings ratio of detached houses in Vancouver BC in September 2017 (see graph below)

Vancouver East: 0.119 | +28.0% (change since September 2016)

Vancouver West: 0.119 | +28.0% (change since September 2016)

In conclusion, Vancouver housing market is showing signs of slowing down. Vancouver West is a strong buyer’s market with Vancouver East slowly shifting towards a buyer’s market. High inventory levels of available houses for this season. Average sale price for detached houses is holding strong with Vancouver West increasing by 10% as compared to September 2016.

 

 

Vancouver Detached Housing Update for August 2017

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Vancouver Detached Housing Update for August 2017

vancouver detached housing market update august 2017

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.

Downtown Vancouver Condo Market Update for Aug 2017 (1 bedroom)

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Downtown Vancouver Condo Market Update for Aug 2017 (1 bedroom)

downtown Vancouver condo market update for August 2017

Downtown Vancouver real estate market update for August 2017. We will only focus on resale 1 bedroom and studio units. Townhouses and detached houses are not included in this real estate update. All graphs go back 3 years.

Average Sales Price

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

Coal Harbour: $722,354 | +10.4% (change since August 2016)

Downtown VW: $649,275 | +19.8% (change since August 2016)

West End: $572,085 | +17.6% (change since August 2016)

Yaletown: $754,735 | +28.4% (change since August 2016)

Average Percent of Original Price

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

Coal Harbour: 100.5% | 0.0% (change since August 2016)

Downtown VW: 103.1% | +1.4% (change since August 2016)

West End: 103.2% | +1.5% (change since August 2016)

Yaletown: 97.8% | -3.9% (change since August 2016)

 

Average Price Per Square Foot

Average Price per Square Foot of ONE bedroom condo units in downtown Vancouver in August 2017 (see graph below)

Coal Harbour: $1,201 | +13.9% (change since August 2016)

Downtown VW: $1,090 | +21.0% (change since August 2016)

West End: $970 | +28.1% (change since August 2016)

Yaletown: $1,132 | +18.9% (change since August 2016)

 

Total Inventory

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

Coal Harbour: 15 | -34.8% (change since August 2016)

Downtown VW: 54 | -67.9% (change since August 2016)

West End: 37 | +12.1% (change since August 2016)

Yaletown: 16 | -72.9% (change since August 2016)

 

New Listings

New Listings of ONE bedroom condo units in downtown Vancouver in August 2017 (see graph below)

Coal Harbour: 12 | -14.3% (change since August 2016)

Downtown VW: 63 | -17.1% (change since August 2016)

West End: 34 | +13.3% (change since August 2016)

Yaletown: 22 | -47.6% (change since August 2016)

 

Total Sales

Total Sales of ONE bedroom condo units in downtown Vancouver in August 2017 (see graph below)

Coal Harbour: 11 | +83.3% (change since August 2016)

Downtown VW: 64 | +45.5% (change since August 2016)

West End: 32 | +39.1% (change since August 2016)

Yaletown: 23 | +9.5% (change since August 2016)

 

Sales to Active Listings Ratio

Sales to Active Listings Ratio for ONE bedroom condo units in downtown Vancouver in August 2017 (see graph below)

Coal Harbour: 0.733 | +180.8% (change since August 2016)

Downtown VW: 1.185 | +352.3% (change since August 2016)

West End: 0.865 | +24.1% (change since August 2016)

Yaletown: 1.438 | +303.9% (change since August 2016)

This August we have seen record low inventory numbers, for the season. The buyer demand is outpacing the supply. Sales to active listing ratios are high and the average sale prices continue climbing.

Burnaby BC Detached Housing Market Update for July 2017

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Burnaby BC Detached Housing Market Update for July 2017

Burnaby housing market update July 2017

It’s been 1 year since the Provincial government introduced “foreign buyers” tax. Here an update of Burnaby detached housing market for July 2017. We will only look at detached properties; townhouses and condos are not included.

Average Sales Price

Average Sales Price of detached house in Burnaby in July 2017 (see graph below)

Burnaby East: $1,550,369 | +8.9% (change since July 2016)

Burnaby North: $1,777,200 | +4.5% (change since July 2016)

Burnaby South: 1,916,196 | -5.0% (change since July 2016)

Average Percent of Original Price

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

Burnaby East: 96.9% | -0.9% (change since July 2016)

Burnaby North: 96.4% | -2.1% (change since July 2016)

Burnaby South: 97.7% | -4.6% (change since July 2016)

Total Inventory

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

Burnaby East: 54 | -22.9% (change since July 2016)

Burnaby North: 196 | +9.5% (change since July 2016)

Burnaby South: 244 | +8.4% (change since July 2016)

New Listings

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

Burnaby East: 18 | -35.7% (change since July 2016)

Burnaby North: 75 | -15.7% (change since July 2016)

Burnaby South: 99 | -2.9% (change since July 2016)

Total Sales

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

Burnaby East: 13 | +62.5% (change since July 2016)

Burnaby North: 17 | -41.4% (change since July 2016)

Burnaby South: 23 | -34.3% (change since July 2016)

Sales to Actives Ratio

Sales to the Active Listings Ratio for detached houses in Burnaby in July 2017 (see graph below)

Burnaby East: 0.241 | +111.4% (change since July 2016)

Burnaby North: 0.087 | -46.3% (change since July 2016)

Burnaby South: 0.094 | -39.7% (change since July 2016)

In conclusion, Burnaby detached housing market is a seller’s market in July 2017. There are healthy inventory levels and a good amount of new listings. Prices have gone up slightly since July 2016 but mostly remain about the same. A lot of buyers still lack confidence in the Burnaby housing market.

Burnaby BC Condo Market Update for July 2017 (One Bedroom Units)

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Burnaby BC Condo Market Update for July 2017 (One Bedroom Units)

Burnaby condo market update for July 2017

Metro Vancouver condo market has been very active in the last few months. Here is a detailed look at the Burnaby BC condo market for July 2017. The statistics include one bedroom condo units,only. Detached properties and townhouses are excluded.

Average Sales Price

Average Sales Price of one bedroom condo in Burnaby in July 2017 (see graph below)

Burnaby East: $458,300 | +9.6% (change since July 2016)

Burnaby North: $380,776 | +8.8% (change since July 2016)

Burnaby South: 458,538 | +23.9% (change since July 2016)

Average Percent of Original Price

Average Percent of Original Asking Price of one bedroom condo in Burnaby in July 2017 (see graph below)

Burnaby East: 105.4% | +4.0% (change since July 2016)

Burnaby North: 100.7% | -3.1% (change since July 2016)

Burnaby South: 106.5% | +4.4% (change since July 2016)

Average Price Per Square Foot

Average Price Per Square Foot for one bedroom condos in Burnaby in July 2017 (see graph below)

Burnaby East: $743 | +14.3% (change since July 2016)

Burnaby North: $579 | +10.3% (change since July 2016)

Burnaby South: $728 | +30.9% (change since July 2016)

Total Inventory

Total Inventory of one bedroom condos in Burnaby in July 2017 (see graph below)

Burnaby East: 4 | -50.0% (change since July 2016)

Burnaby North: 27 | -37.2% (change since July 2016)

Burnaby South: 37 | -17.8% (change since July 2016)

New Listings

Total New Listings of one bedroom condos in Burnaby in July 2017 (see graph below)

Burnaby East: 5 | 0.0% (change since July 2016)

Burnaby North: 28 | -26.3% (change since July 2016)

Burnaby South: 42 | -17.6% (change since July 2016)

Sales

Total Sales of one bedroom condo units in Burnaby in July 2017 (see graph below)

Burnaby East: 4 | +100.0% (change since July 2016)

Burnaby North: 21 | -22.2% (change since July 2016)

Burnaby South: 26 | -38.1% (change since July 2016)

Sales to Actives Ratio

Sales to Active Listings Ratio for one bedroom condo units in Burnaby in July 2017 (see graph below)

Burnaby East: 1.000 | +300.0% (change since July 2016)

Burnaby North: 0.778 | +23.9% (change since July 2016)

Burnaby South: 0.703 | -24.7% (change since July 2016)

In conclusion, Burnaby condo market in July was a very strong sellers’ market. One bedroom units were selling 1-2% over the original asking price. Low inventory and few new listings are the contributing factors fuelling this hot sellers’ market. Not surprisingly average sales price and average price per square foot are up in July 2017.

Vancouver BC Housing Market Real Estate Update for July 2017

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Vancouver housing market update July 2017

It’s been one year since “foreign buyer’s” tax was introduced in Metro Vancouver. Here is a real estate update for detached housing in Vancouver East and Vancouver West in July 2017. Brand new construction and attached units are excluded form this update.

Average Sales Price

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

Vancouver East: $1,604,689 | -5.8% (change since July 2016)

Vancouver West: $4,465,498 | +6.3% (change since July 2016)

 

Average Percent of Original Price

Average Percent of the Original Asking Price of detached homes in Vancouver BC in July 2017 (see graph below)

Vancouver East: 98.7% | -3.5% (change since July 2016)

Vancouver West: 95.5% | -5.3% (change since July 2016)

Total Inventory

Total Inventory of detached homes available in Vancouver BC in July 2017 (see graph below)

Vancouver East: 791 | +23.8% (change since July 2016)

Vancouver West: 728 | +7.2% (change since July 2016)

New Listings

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

Vancouver East: 248 | -20.3% (change since July 2016)

Vancouver West: 224 | -12.8% (change since July 2016)

Sales

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

Vancouver East: 104 | -9.6% (change since July 2016)

Vancouver West: 72 | -30.8% (change since July 2016)

Sales to Actives Ratio

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

Vancouver East: 0.131 | -27.2% (change since July 2016)

Vancouver West: 0.099 | -35.3% (change since July 2016)

In conclusion, Vancouver housing market is currently a buyer’s market. Inventory levels are a bit high. Sales are slowing down as we head into late summer real estate market. Housing prices in Vancouver are “treading water”.

Downtown Vancouver Condos Market Update for July 2017 (1 bedroom)

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vancouver downtown condo market update july 2017

Downtown Vancouver condo units are in high demand. Here a detailed condo market update for 1 bedroom units in downtown Vancouver. We’ve excluded townhouses and detached houses form the statistics.

Average Sales Price

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

Coal Harbour: $705,322 | +5.8% (change since July 2016)

Downtown VW: $631,732 | +15.9% (change since July 2016)

West End: $603,633 | -5.3% (change since July 2016)

Yaletown: $722,642 | +18.6% (change since July 2016)

Average Percent of Original Listing Price

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

Coal Harbour: 103.4% | +0.1% (change since July 2016)

Downtown VW: 103.5% | -2.3% (change since July 2016)

West End: 99.3% | -4.9% (change since July 2016)

Yaletown: 103.3% | -0.2% (change since July 2016)

Average Price Per Square Foot

Average Price Per Square Foot of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)

Coal Harbour: $1,191 | +6.0% (change since July 2016)

Downtown VW: $1,057 | +15.1% (change since July 2016)

West End: $940 | +6.1% (change since July 2016)

Yaletown: $1,133 | +15.5% (change since July 2016)

Total Inventory

Total Available Inventory of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)

Coal Harbour: 15 | -16.7% (change since July 2016)

Downtown VW: 108 | +24.1% (change since July 2016)

West End: 43 | +43.3% (change since July 2016)

Yaletown: 25 | -47.9% (change since July 2016)

New Listings

All New Listings of ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)

Coal Harbour: 16 | +23.1% (change since July 2016)

Downtown VW: 84 | -6.7% (change since July 2016)

West End: 37 | +48.0% (change since July 2016)

Yaletown: 32 | -25.6% (change since July 2016)

Sales

Total Number of Sales of ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)

Coal Harbour: 9 | +28.6% (change since July 2016)

Downtown VW: 59 | +3.5% (change since July 2016)

West End: 18 | +28.6% (change since July 2016)

Yaletown: 24 | -14.3% (change since July 2016)

Sales to Active Listings Ratio

Sales to Actives Ratio for ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)

Coal Harbour: 0.600 | +54.2% (change since July 2016)

Downtown VW: 0.546 | -16.6% (change since July 2016)

West End: 0.419 | -10.3% (change since July 2016)

Yaletown: 0.960 | +64.7% (change since July 2016)

In conclusion, downtown Vancouver condo market is a strong seller’s market. Most condo units are selling for more than the original asking price. Average sales price and average price per square foot is significantly higher as compared to last year.

Burnaby Condo Market Update (1 bedroom) – June 2017

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Burnaby BC condo market update

Here is a real estate market update of one bedroom condo unit in Burnaby BC in June 2017. This market update only includes condos; townhouses and houses are excluded. Statistics only include 1 bedroom condos, but the 2+ condo market is very similar.

Average Sales Price

Average Sales Price of one bedroom condo in Burnaby in June 2017 (see graph below)

Burnaby East: $457,500 | +22.5% (change since June 2016)

Burnaby North: $392,209 | +20.7% (change since June 2016)

Burnaby South: $470,880 | +34.5% (change since June 2016)

Average Percent of Original Listing Price

Average Percent of Original Price of one bedroom condo in Burnaby in June 2017 (see graph below)

Burnaby East: 105.6% | +2.9% (change since June 2016)

Burnaby North: 104.2% | +1.6% (change since June 2016)

Burnaby South: 108.0% | +5.8% (change since June 2016)

Average Price Per Square Foot

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

Burnaby East: $809 | +43.7% (change since June 2016)

Burnaby North: $572 | +18.9% (change since June 2016)

Burnaby South: $729 | +29.3% (change since June 2016)

Total Inventory

Total Inventory of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 4 | -20.0% (change since June 2016)

Burnaby North: 26 | -21.2% (change since June 2016)

Burnaby South: 25 | -47.9% (change since June 2016)

New Listings

Total number of New Listings of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 6 | +20.0% (change since June 2016)

Burnaby North: 27 | -15.6% (change since June 2016)

Burnaby South: 40 | -11.1% (change since June 2016)

Sales

Total number of Sales of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 2 | -66.7% (change since June 2016)

Burnaby North: 39 | -4.9% (change since June 2016)

Burnaby South: 42 | -14.3% (change since June 2016)

Sales to Active Listings Ratio

Sales to Actives Ration of one bedroom condos in Burnaby in June 2017 (see graph below)

Burnaby East: 0.500 | -58.3% (change since June 2016)

Burnaby North: 1.500 | +20.8% (change since June 2016)

Burnaby South: 1.680 | +64.5% (change since June 2016)

In conclusion, Burnaby condo market is very active. On average condos are selling 5-8% over the original listing price. Sales to actives ratio indicates very strong sellers market. Prices continuously climbing and inventory levels are unusually low for the season.

Vancouver Housing Market Update – June 2017

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vancouver housing update

Here are the real estate stats for the Vancouver housing market in June 2017. We will only look at resale detached houses. Condos and townhouses are excluded. Brand new construction is also excluded. Each graph goes back 3 years.

Average Sales Price

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

Vancouver East: $1,692,376 | +1.8% (change since June 2016)

Vancouver West: $3,931,582 | -5.3% (change since June 2016)

Average Percent of Original Price

Average percent of original price of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 100.7% | -4.7% (change since June 2016)

Vancouver West: 97.9% | -4.4% (change since June 2016)

Total Inventory

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

Vancouver East: 785 | +37.5% (change since June 2016)

Vancouver West: 712 | +11.8% (change since June 2016)

New Listings

Total number of the new listings of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 332 | +4.7%(change since June 2016)

Vancouver West: 323 | +2.5% (change since June 2016)

Sales

Total number of detached houses sold in Vancouver BC in June 2017 (see graph below)

Vancouver East: 156 | +1.3% (change since June 2016)

Vancouver West: 108 | -27.5% (change since June 2016)

Sales to Active Listings Ratio

Sales to the active listings ratio of detached houses in Vancouver BC in June 2017 (see graph below)

Vancouver East: 0.199 | -26.3% (change since June 2016)

Vancouver West: 0.152 | -35.0% (change since June 2016)

In conclusion, Vancouver housing prices are holding steady. Properties are selling reasonably well. We see good inventory levels and good influx of new listings every month. The housing market in Vancouver East is stronger than in Vancouver West with more buyer activity. Overall both Vancouver East and Vancouver West are balanced markets (based on sales to active listings ratio).

Burnaby Housing Market Real Estate Update – June 2017

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burnaby housing market update

Here is a real estate update of Burnaby housing market for June 2017. We will look at detached market only. Condos and townhouses have their own market update in a separate blog post. We will only look at resale homes (no new construction).

Average Sales Price

Average Sales Price of detached house in Burnaby in June 2017 (see graph below)

Burnaby East: $1,634,000 | +12.6% (change since June 2016)

Burnaby North: $1,737,458 | -3.6% (change since June 2016)

Burnaby South: $1,846,264 | +4.6% (change since June 2016)

Average Percent of Original Asking Price

Average Percent of Original Price of houses in Burnaby in June 2017 (see graph below)

Burnaby East: 99.6% | -3.2% (change since June 2016)

Burnaby North: 97.3% | -3.4% (change since June 2016)

Burnaby South: 98.8% | -5.4% (change since June 2016)

Total Inventory

Total inventory of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East: 58 | 0.0% (change since June 2016)

Burnaby North: 177 | +13.5% (change since June 2016)

Burnaby South: 224 | +15.5% (change since June 2016)

New Listings

Total number of New Listings of detached houses in Burnaby in June 2017 (see graph below)

Burnaby East: 28 | -15.2% (change since June 2016)

Burnaby North: 101 | +6.3% (change since June 2016)

Burnaby South: 107 | 0.0% (change since June 2016)

Sales

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

Burnaby East:  9 | -55.0% (change since June 2016)

Burnaby North: 43 | -8.5% (change since June 2016)

Burnaby South: 46 | -8.0% (change since June 2016)

Sales to Active Listings Ratio

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

Burnaby East:  0.155 | -55.1% (change since June 2016)

Burnaby North: 0.243 | -19.3% (change since June 2016)

Burnaby South: 0.205 | -20.5% (change since June 2016)

In conclusion, Burnaby detached housing market is a little slower than it was at this time last year. Average sale price prices remain strong. Average sale price of detached houses in Burnaby East is at it’s all time high. We see healthy inventory levels in all the Burnaby areas. Total number of sales is about the same as June 2016.  Based on the Sales to Active Listings Ration all three Burnaby areas are in a balanced market with a slight favourability of sellers.