Here is a real estate market update for the detached housing market in Vancouver BC for December 2017. We will look at the statistics and break down market activity for the past month. The statistics will only include detached houses, condos and townhouses are not included.
MLS Home Price Index
MLS Home Price Index of detached houses in Vancouver BC in December 2017 (see graph below)
Vancouver East: $1,559,900 | +7.1% (change since December 2016)
Vancouver West: $3,556,100 | +3.3% (change since December 2016)
Average Sales Price
Average Sales Price of detached houses in Vancouver BC in December 2017 (see graph below)
Vancouver East: $1,792,136 | +24.1%(change since December 2016)
Vancouver West: $3,500,979 | -5.4% (change since December 2016)
Average Percent of Original Price
Average Percent of Original Asking Price of detached houses in Vancouver BC in December 2017 (see graph below)
Vancouver East: 95.3% | +3.8%(change since December 2016)
Vancouver West: 92.0% | -1.1% (change since December 2016)
Total Inventory
Total Inventory of detached homes in Vancouver BC in December 2017 (see graph below)
Vancouver East: 543 | -4.7% (change since December 2016)
Vancouver West: 513 | +18.2% (change since December 2016)
New Listing
All New Listings of detached homes in Vancouver BC in December 2017 (see graph below)
Vancouver East: 83 | -3.5% (change since December 2016)
Vancouver West: 66 | +3.1% (change since December 2016)
Sales
Total Sales of detached homes in Vancouver BC in December 2017 (see graph below)
Vancouver East: 84 | +33.3% (change since December 2016)
Vancouver West: 34 | -44.3% (change since December 2016)
Sales to Actives Ratio
Sales to Active Listings Ratio of detached homes in Vancouver BC in December 2017 (see graph below)
Vancouver East: 0.155 | +39.6% (change since December 2016)
Vancouver West: 0.066 | -53.2% (change since December 2016)
In conclusion, the detached housing market in Vancouver is not moving much. We’ve seen a lot less inventory in December as compared to November. A lot of people are taking their properties off the market for the holidays to re-list in the spring. Vancouver East is a balanced market and Vancouver West is a buyer’s market with a lot of inventory not selling. It will be interesting to see how the new mortgage regulations will effect the market in the upcoming year.