Vancouver Real Estate Market Statistics – July 2017

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

Vancouver West

In the Vancouver Westside, there were 74 sales of detached homes and 768 active listings at the end of the month. The benchmark sale price was $3,666,200, with an average days on market of 36. The hottest markets for sales were Dunbar and South Granville with 9 sales each.

In comparison, the condo market had 397 sales, 797 active listings and a benchmark sale price of $783,700 with an average of 17 days on market. The hottest market for sales was Downtown VW, 100 sales.

Townhome sales were 40, active listings were 146. The benchmark sale price was $1,232,000 with an average days on market of 14. Fairview VW with 9 sales was the hottest market in July.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_July2017_VanWest

Vancouver East

The Vancouver Eastside had 110 sales and 822 active listings for detached homes at the end of the month. The benchmark sales price was $1,561,700, and the average days on market were 22. The hottest sales market was Renfrew Heights with 15 sales.

The condo market featured 151 sales, 178 active listing, and a benchmark sales price was $524,700. The average days on market were 15 days, and the hottest market for sales was Mount Pleasant VE with 43 sales.

The townhome market, on the other hand, had 32 sales and 58 active listings. The benchmark sale price was $854,900 with 20 average days on market. Mount Pleasant VE, 9 sales, had the most sales in July.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_July2017_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