Vancouver Real Estate Market Statistics – February 2017

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

Vancouver West

In the Vancouver Westside, there were 93 sales of detached homes and 602 active listings at the end of February. The benchmark sale price was $3,422,700, with an average days on market of 35. The hottest market for sales was Dunbar with 18 sales.

In comparison, the condo market had 368 sales, 686 active listings and a benchmark sale price of $688,400 with an average of 21 days on market. The hottest market for sales was Downtown VW, 85 sales.

Townhome sales were 32, active listings were 108. The benchmark sale price was $1,069,800 with an average days on market of 24. Kitsilano with 8 sales was the hottest market in February.

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

MarketHotSheet_February2017_VanWest

Vancouver East

The Vancouver Eastside had 83 sales and 666 active listings for detached homes at the end of the month. The benchmark sales price was $1,425,600, and the average days on market were 40. The hottest sales market was Renfrew VE with 18 sales.

The condo market featured 122 sales, 200 active listing, and a benchmark sales price was $446,200. The average days on market were 17 days, and the hottest market for sales was Mount Pleasant VE with 50 sales.

The townhome market, on the other hand, had 19 sales and 53 active listings. The benchmark sale price was $741,000 with 24 average days on market. Champlain Heights, 5 sales, had the most sales in February.

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

MarketHotSheet_February2017_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