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October 2017 - Market News

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Market Stats: Residential Detached 

September 2017 Stats

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Source: Real Estate Board of Greater Vancouver


Much of the real estate news has been focused on condo’s and townhomes, and rightly so. Showing a strong sellers’ market, the sales to active listings for September for townhomes was 42.3% and an incredible 60.4% for condominiums. For detached homes, the ratio for sales to active listings for September 2017 was 14.6% a direction that moves us closer to a balanced market, if not  a buyers’ market.

North Vancouver saw a healthy gain of 49% in gross sales in September when compared to one year ago.  A healthy boost of increased sales, September 2017 gross sales were  $132,652,464 compared to $88,597,428 from September 2016.  Units sold grew 29% from 53 to 74 for the month of September but we saw a slump in year sold to date figures, down 23% from 1072 to 821. As the market balances out, September’s benchmark price rose 1.9% from $1,671,500 to $1,713,000.

A stunning 104% leap in gross sales for West Vancouver had gross sales soar from $61,629,376 in September 2016 to $125,768,571 for this past September. Units sold in September increased 59% from 22 to 35 but we did see a 45% fall in sold year to date figures from 755 to 413. Benchmark prices took a hit of -8.5% overall from one year ago which again shows that the markets are balancing out from a year of record breaking sales numbers.

Vancouver West saw a 35% increase in gross sales with a 21% jump in units sold in September, from 60 last year to 73 this year. Active listings were up 26% but as in the other markets, we saw the decline of 39% in sold year to date figures as well as a virtually unchanged benchmark price of $3,653,500.

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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.



Thinking of buying or selling your home? Give me a call, I’d love to help.

Ann Hickey
604 220-6249