Vancouver Real Estate Market Statistics – August 2017

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

Vancouver West

In the Vancouver Westside, there were 52 sales of detached homes and 789 active listings at the end of the month. The benchmark sale price was $3,654,500, with an average days on market of 36. The hottest market for sales was Dunbar with 12 sales.

In comparison, the condo market had 407 sales, 698 active listings and a benchmark sale price of $787,400 with an average of 21 days on market. The hottest market for sales was Downtown VW, 103 sales.

Townhome sales were 47, active listings were 136. The benchmark sale price was $1,254,200 with an average days on market of 22. Fairview VW and Kitsliano with 11 sales each were the hottest markets in August.

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

MarketHotSheet_August2017_VanWest

Vancouver East

The Vancouver Eastside had 115 sales and 771 active listings for detached homes at the end of the month. The benchmark sales price was $1,565,300, and the average days on market were 28. The hottest sales market was Killarney VE with 17 sales.

The condo market featured 143 sales, 152 active listing, and a benchmark sales price was $529,400. The average days on market were 16 days, and the hottest market for sales was Mount Pleasant VE with 46 sales.

The townhome market, on the other hand, had 24 sales and 53 active listings. The benchmark sale price was $858,500 with 17 average days on market. Champlain Heights with 6 sales had the most sales in August.

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

MarketHotSheet_August2017_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