Vancouver Real Estate Market Statistics – May 2017

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

Vancouver Westside

In the Vancouver Westside, there were 188 sales of detached homes and 635 active listings at the end of the month. The benchmark sale price was $3,588,300, with an average days on market of 42. The hottest market for sales was Kitsilano with 25 sales.

In comparison, the condo market had 528 sales, 664 active listings and a benchmark sale price of $737,500 with an average of 20 days on market. The hottest market for sales was Downtown VW, 112 sales.

Townhome sales were 67, active listings were 110. The benchmark sale price was $1,154,200 with an average days on market of 24. Kitsilano with 19 sales was the hottest market in May.

It’s a seller’s market for all product types.

MarketHotSheet_May2017_VanWest

Vancouver Eastside

The Vancouver Eastside had 200 sales and 765 active listings for detached homes at the end of the month. The benchmark sales price was $1,513,800, and the average days on market were 29. The hottest sales market was Knight with 25 sales.

The condo market featured 213 sales, 220 active listing, and a benchmark sales price was $496,800. The average days on market were 18 days, and the hottest market for sales was and Mount Pleasant VE with 67 sales.

The townhome market, on the other hand, had 42 sales and 60 active listings. The benchmark sale price was $792,300 with 19 average days on market. Mount Pleasant VE, 8 sales, had the most sales in May.

It’s a seller’s market for all product types.

MarketHotSheet_May2017_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.rebgvkv.org