Here are the latest real estate market statistics from Macdonald Realty on Vancouver West and Vancouver East listings and sales in March 2017.
In the Vancouver Westside, there were 95 sales of detached homes and 595 active listings at the end of March. The benchmark sale price was $3,461,700, with an average days on market of 35. The hottest market for sales was Dunbar with 23 sales.
In comparison, the condo market had 455 sales, 656 active listings and a benchmark sale price of $692,400 with an average of 24 days on market. The hottest market for sales was Downtown VW, 109 sales.
Townhome sales were 57, active listings were 111. The benchmark sale price was $1,079,100 with an average days on market of 57. Fairview VW with 13 sales was the hottest market in March.
It’s a buyer’s market for single family homes.
The Vancouver Eastside had 156 sales and 686 active listings for detached homes at the end of the month. The benchmark sales price was $1,452,200, and the average days on market were 36. The hottest sales market was Renfrew VE with 21 sales.
The condo market featured 179 sales, 201 active listing, and a benchmark sales price was $464,900. The average days on market were 19 days, and the hottest markets for sales were Collingwood VE and Mount Pleasant VE with 49 sales each.
The townhome market, on the other hand, had 29 sales and 49 active listings. The benchmark sale price was $734,700 with 22 average days on market. Champlain Heights, 9 sales, had the most sales in March.
It’s a seller’s market for condos and townhomes.
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
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.rebgvkv.org