Vancouver Real Estate Market Statistics – January 2017

Here are the latest real estate market statistics from Macdonald Realty on Vancouver Westside and Eastside listings and sales in January 2017.

Vancouver Westside

In the Vancouver Westside, there were 37 sales of detached homes and 595 active listings at the end of January. The benchmark sale price was $3,419,800, with an average days on market of 51. The hottest market for sales was Point Grey with 9 sales.

In comparison, the condo market had 213 sales, 691 active listings and a benchmark sale price of $662,400 with an average of 33 days on market. The hottest market for sales was Downtown VW, 54 sales.

Townhome sales were 19, active listings were 87. The benchmark sale price was $1,066,700 with an average days on market of 28. Kitsilano with 5 sales was the hottest market in January.

It’s a buyer’s market for single family homes.

MarketHotSheet_January2017_VanWest

Vancouver Eastside

The Vancouver Eastside had 52 sales and 623 active listings for detached homes at the end of the month. The benchmark sales price was $1,440,500, and the average days on market were 55. The hottest sales market was South Vancouver with 7 sales.

The condo market featured 76 sales, 182 active listing, and a benchmark sales price was $438,800. The average days on market were 23 days, and the hottest market for sales was Mount Pleasant VE with 30 sales.

The townhome market, on the other hand, had 8 sales and 35 active listings. The benchmark sale price was $739,200 with 42 average days on market. Champlain Heights, 5 sales, had the most sales in January.

It’s a buyer’s market for single family homes.

MarketHotSheet_January2017_VanEast

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver

Macdonald Realty has offices across the Greater Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org