October 2019 - Market News
Source: Real Estate Board of Greater Vancouver
Market Stats: Residential Detached
NORTH VANCOUVER: September was a good month for sales compared to the performance in 2018. The number of sales of detached homes in September 2019 reached 59, a 43% increase from the 41 detached sales recorded in September 2018. However, the numbers weren’t quite as high as August which saw 64 sales transactions this year. Overall, the numbers are still positive for 2019 with a total of 581 detached sold compared to 525 for same period last year. The number of detached listings for September 2019 are far less than last September, with 172 and 240 respectively, however this is up from August which saw 92 homes listed for sale. Year to date, the numbers of homes listed for sale is down, which could be good news for Sellers if this trend continues. That being said, the benchmark price for detached homes is $1,463,000. This represents a 7.5% decrease from September 2018 and a 0.8% decrease compared to August 2019.
WEST VANCOUVER: Sales in September were great for West Vancouver with 35 units sold compared to 25 in September 2018, a 40% increase. August was stronger with 40 units sold, but overall the numbers of detached homes sold to date in 2019 is higher, with 308 sales versus 252 for the same time period in 2018. As for listings, this has remained similar with 166 detached properties listed for sale in September 2019, 162 in September 2018, and 107 for August 2019. The benchmark price for detached homes is $2,520,100. This represents a 9.3% decrease from September 2018 and a 0% change compared to August 2019.
VANCOUVER WEST: September wasn’t as strong as the other areas, with sales of 61 detached homes compared to 38 units in September 2018. This represents a 60% increase. There was a slight increase of 0.2% from the July sales of 60 units. However, year to date the figures are higher for 2019 with a total of 550 detached homes sold compared to the 545 sales in 2018. Listings were also down substantially in September (182) compared to September 2018 (211) and August 2019 (126). The benchmark price for detached homes is $2,894,400. This represents a 10.8% decrease from September 2018 and a 0.5% increase compared to August 2019.
SUNSHINE COAST: September sales weren’t great for this area, with 46 detached homes sold, up from 37 last September, and 49 in August 2019. Overall, sales year to date have dropped by 11%, with 371 homes sold so far in 2019 versus 421 in 2018. The number of units listed were down as well in September, with a total of 56 for the month compared to 74 in July. The benchmark price for detached homes is $594,900. This represents a 0.9% decrease from September 2018 and a 1.8% increase compared to August 2019.
For a complete breakdown of the stats for each area please see below.
North Vancouver: Here
West Vancouver: Here
Vancouver West: Here
Sunshine Coast: Here