Vancouver Real Estate Market Statistics – November 2017

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

Vancouver West

In the Vancouver Westside, there were 84 sales of detached homes and 796 active listings at the end of the month. The benchmark sale price was $3,573,700, with an average days on market of 47. The hottest market for sales was Dunbar with 15 sales.

In comparison, the condo market had 381 sales, 717 active listings and a benchmark sale price of $811,200 with an average of 22 days on market. The hottest market for sales was Downtown VW, 87 sales.

Townhome sales were 40, active listings were 128. The benchmark sale price was $1,268,200 with an average days on market of 16. Kitsliano with 14 sales was the hottest market of the month.

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

MarketHotSheet_November2017_VanWest

Vancouver East

The Vancouver Eastside had 94 sales and 801 active listings for detached homes at the end of the month. The benchmark sales price was $1,573,500, and the average days on market were 30. The hottest sales market was Renfrew VE with 15 sales.

The condo market featured 172 sales, 182 active listing, and a benchmark sales price was $540,300. The average days on market were 16 days, and the hottest market for sales was Mount Pleasant VE with 59 sales.

The townhome market, on the other hand, had 30 sales and 85 active listings. The benchmark sale price was $861,900 with 19 average days on market. Mount Pleasant VE, with 8 sales each, had the most sales of the month.

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

MarketHotSheet_November2017_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