Blog by Ann Hickey

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May 2019 - Market News

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


Written Summary:

North Vancouver: Overall North Vancouver is continuing to see a steady decrease in the number of units sold and an increase in the number of units listed. The average price has risen slightly,however,despite this the HPI saw a decrease of 12% in April. Interesting to note, the number of active listings for condos and townhomes are over 100% more than what we were seeing last year.  The number of sales are down considerably (36% for condos and 17% for townhomes), and the number of days on market are up over 44%. With the continuing decrease in sales for all property types, and the increase in the number of listings, this is indeed becoming a Buyer's market.

West Vancouver: Good news for West Vancouver with the gross sales for the month of April increasing by 36% compared to last year, and up ever so slightly (1%) year to year. The number of units sold also increased in April compared to last year, and are up year to to year as well. The number of listed in April was down slightly, however the total number of listings is still higher than last year.

Vancouver West: Vancouver West took a dip this April compared to its performance in April 2018, with Gross Sales down 23% year to year. The number of units sold in April is down slightly compared to last year as are the number of units listed. The average price/unit is following the trend with a drop of 13% in April, and 17% year to year.




Statistics:

North Vancouver

 

 APRIL 2019

APRIL 2018

- % Increase -

Gross Sales

$ 104,464,904

$ 142,243,827

-26%

Units Listed

193

243

-20%

Units Sold

53

77

-31%

Sold- Year to Date

195

232

-15%

Avg Price/Unit

$ 1,971,035

$ 1,847,322

6%

Active Listings

426

391

8%

 

Benchmark Price

$ 1,499,400

$ 1,703,400

-12.0%

Price Index (HPI)

234.5

266.4

-12.0%

West Vancouver

 

APRIL 2019

APRIL 2018

- % Increase -

Gross Sales

$ 130,561,285

$ 95,816,000

36%

Units Listed

184

202

-8%

Units Sold

38

32

18%

Sold- Year to Date

104

97

7%

Avg Price/Unit

$ 3,435,823

$ 2,994,250

14%

Active Listings

528

521

1%

 

Benchmark Price

$ 2,574,100

$ 3,054,000

-15.7%

Price Index (HPI)

243.0

288.3

-15.7%

 

Vancouver West

 

APRIL 2019

APRIL 2018

- % Increase -

Gross Sales

$ 196,445,400

$ 243,820,888

-19%

Units Listed

226

293

-23%

Units Sold

63

68

-7%

Sold- Year to Date

204

220

-7%

Avg Price/Unit

$ 3,118,180

$ 3,585,601

-13%

Active Listings

737

829

-11%

 

Benchmark Price

$ 2,948,400

$ 3,404,200

-13.4%

Price Index (HPI)

302.7

349.5

-13.4%

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.