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April 2019 - Market News

Source: Real Estate Board of Greater Vancouver
Market Stats: Residential Detached 

Written Summary:

North Vancouver: Total sales this month are down from last year by 12%. The units sold this month verses last year has increased counteracting some of the price drop for the gross sales decrease. More houses remain unsold and new listings have slowed. January was a very good month for North Vancouver compared to last year and February fell short in comparison, but this march is making its way back.

West Vancouver: Total sales have declines by 16% since March 2018 and the average price has declined. More units were listed, more remain unsold and sales are down by 11%. West Vancouver’s statistics have been trending downwards for the last couple months and this does not seem to have stopped. West Vancouver had a very active start to the year, slowing in February and starting to pick back up this month.

Vancouver West: Relative to the north shore, Vancouver West is doing quite well. The total sales and units sold are up and fewer houses seem to remain on the market. Listings have decreased by 18% and the HPI Benchmark has also dropped by 12.3%. House prices are decreasing but the sales compared to March 2018 are an improvement. Vancouver West began the year poorly compared to last year but made a comeback this month.




Statistics:

North Vancouver

 

 MARCH 2019

MARCH 2018

- % Increase -

Gross Sales

$ 117,390,492

$ 134,075,569

-12%

Units Listed

147

157

-6%

Units Sold

70

67

4%

Sold- Year to Date

142

155

-8%

Avg Price/Unit

$ 1,677,007

$ 2,001,127

-16%

Active Listings

368

313

17%

 

Benchmark Price

$ 1,502,600

$1,670,100

-12.8%

Price Index (HPI)

235.0

261.2

-12.8%

 

West Vancouver

 

MARCH 2019

MARCH 2018

- % Increase -

Gross Sales

$ 66,618,262

$ 79,560,619

-16%

Units Listed

120

109

10%

Units Sold

23

26

-11%

Sold- Year to Date

66

65

1%

Avg Price/Unit

$ 2,896,446

$ 3,060,023

-5%

Active Listings

489

464

5%

Benchmark Price

$ 2,583,600

$3,099,500

-17.1%

Price Index (HPI)

243.9

292.6

-17.1%

Vancouver West

 

MARCH 2019

MARCH 2018

- % Increase -

Gross Sales

$ 193,913,286

$ 177,675,888

9%

Units Listed

188

230

-18%

Units Sold

64

53

20%

Sold- Year to Date

141

152

-7%

Avg Price/Unit

$ 3,029,895

$ 3,352,375

-9%

Active Listings

694

772

-10%

Benchmark Price

$ 3,026,300

$3,548,400

-12.3%

Price Index (HPI)

310.7

364.3

-12.3%

                                                                                                                                      

Benchmark Price: Estimated sale price of a typical property, based on a set of common qualities of homes within each market.

Price Index (HPI): Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales.