October 2015 - Market News
The 21st Annual REALTORS Care® Blanket Drive will take place
November 16th - 23rd!
Join us and help warm up the Lower Mainland. Click here for more information.
Market Overview for September 2015
With Gross Sales up 52% in North Vancouver compared to one year ago, it seems like North Vancouver is in the “hot market” spot light. The Average Price per Unit steadily increased 30% over the past year from $1,158,594 to $1,571,530. Like in previous months, the Active Listings for the month of September, 2015 are down 32%, from 317 to 214, when compared with September, 2014. An increase of 16% in Year to Date Sales combined with a solid growth of 17.8% for the Price Index (HPI) and the Benchmark Price validate a healthy market.
West Vancouver shined with the number of Units Sold Year to Date. For September, 2014, there had been 641 Units Sold Year to Date while this past September, the number reached 805. Gross Sales dipped 1% from September, 2014 but there is little room for concern. A solid increase of 17% in the Average Price per Unit in West Vancouver (from $2,588,191 to $3,047,917) shows a leap in price while Units Listed are up a vigorous 18% from September 2014 from 170 to 202. This month, West Vancouver shows the strongest HPI and Benchmark Price on the North Shore with an increase of 21%
Unlike North Vancouver, Vancouver West reports a decrease of 19% in Gross Sales as well as a 26% decline in Units Sold, down from 171(September, 2014) to 125 (September, 2015). This should come as no surprise as there has been much news lately on the dwindling supply of homes available in Vancouver. The Average Price did rise 10% from September, 2014 when it was reported at $2,863,463 and now September 2015 reports at $3,165,207. The confidence in the strong Vancouver market is continuing with a solid Price Index (HPI) and Benchmark Price increase of 19.2%
MARKET OVERVIEW: Residential Detached
Source: Real Estate Board of Greater Vancouver
North Vancouver
West Vancouver
Vancouver West
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.
North Vancouver
| September 2015 | September 2014 | % Increase | |
| Gross Sales | $162,375,805 | $106,590,433 | 52% |
| Units Listed | 192 | 181 | 6% |
| Units Sold | 107 | 92 | 16% |
| Sold- Year to Date | 1171 | 1006 | 16% |
| Avg Price/Unit | $1,517,530 | $1,158,591 | 30% |
| Active Listings | 214 | 317 | -32% |
| Benchmark Price | $1,212,400 | $1,027,600 | 17.8% |
| Price Index (HPI) | 193.0 | 164.0 | 17.8% |
West Vancouver
| September 2015 | September 2014 | % Increase | |
| Gross Sales | $204,210,477 | $207,055,332 | -1% |
| Units Listed | 202 | 170 | 18% |
| Units Sold | 67 | 80 | -16% |
| Sold- Year to Date | 805 | 641 | 25% |
| Avg Price/Unit | $3,047,917 | $2,588,191 | 17% |
| Active Listings | 495 | 519 | -4% |
| Benchmark Price | $2,447,700 | $2,015,500 | 21% |
| Price Index (HPI) | 232.7 | 191.9 | 21% |
Vancouver West
| September 2015 | September 2014 | % Increase | |
| Gross Sales | $395,650,959 | $489,652,232 | -19% |
| Units Listed | 309 | 307 | 0% |
| Units Sold | 125 | 171 | -26% |
| Sold- Year to Date | 1570 | 1412 | 11% |
| Avg Price/Unit | $3,165,207 | $2,863,463 | 10% |
| Active Listings | 666 | 828 | -19% |
| Benchmark Price | $2,743,800 | $2,299,900 | 19.2% |
| Price Index (HPI) | 281.7 | 236.3 | 19.2% |
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.
There's an App for That.
These days it seems there is literally an App for everything. There are thousands of App’s available and it is hard to tell which ones are actually useful and which ones are not. The following are some of Metro Vancouver’s most popular smart phone Apps. Have a look and let me know if I missed any of your favorites!
- Vancouver Travel Guide with Offline City Street Maps- With E-tips Travel Guides you have a full city guide in your iPhone, iPod Touch or iPad.
- Vancouver Free WiFi- This app helps you find a Cafe or Restaurant with a free WiFi hotspot. The locations of these Cafes and Restaurants are stored on your iPhone or iPod Touch, so that you can find them even without internet access.
- Tap Map- Access Metro Vancouver’s mountain fresh and pure tap water when you’re on the go anywhere in the region. Metro Vancouver’s Tap Map contains the locations of over 550 public drinking fountains in member municipalities spanning from West Vancouver to Langley.
- We Heart Local- This app connects you to the delicious flavours of your local BC food community. Find local anywhere, anytime, right in your neighbourhood, explore what’s in season, or browse our collection of delicious recipes.
- On the Go Kids- Find out what’s going on for kids and families in and around Vancouver right now, this weekend or next week!
- Transklink Mobile- TransLink's mobile website makes taking public transportation around Vancouver easy! Use this site to access complete schedules for buses, SkyTrain, Canada Line, WestCoast Express and SeaBus. You can also see service alerts and all GVRD transit maps.
- City Fix-Snap it, Send it!- City Fix is a mobile application for reporting things that need to be fixed in the City of North Vancouver such as potholes, graffiti and street lights. Issues can be reported in real time with GPS technology to assist accurate reporting.
- Local guide to North Shore Rides- Vancouver’s North Shore bike trails are technically challenging, but there are those days when it all comes together and the results are magic. Local Guides app helps navigate where some of the best rides are on our wonderful North Shore mountains.
Buying or selling your home? You will need more than an App for that. Give me a call, I’d love to help.
Ann Hickey
604 220-6249
604 220-6249
