Here are the latest real estate market statistics from Macdonald Realty on Vancouver Westside and Eastside listings and sales in December 2017.
In the Vancouver Westside, there were 37 sales of detached homes and 553 active listings at the end of the month. The benchmark sale price was $3,556,100, with an average days on market of 64. The hottest markets for sales were Kerrisdale and Kitsliano with 5 sales each.
In comparison, the condo market had 253 sales, 511 active listings and a benchmark sale price of $807,100 with an average of 22 days on market. The hottest market for sales was Downtown VW, 65 sales.
Townhome sales were 22, active listings were 98. The benchmark sale price was $1,242,400 with an average days on market of 29. Downtown VW with 3 sales was the hottest market of the month.
It’s a seller’s market for condos.
The Vancouver Eastside had 88 sales and 575 active listings for detached homes at the end of the month. The benchmark sales price was $1,559,900, and the average days on market were 39. The hottest sales market was Grandview with 14 sales.
The condo market featured 116 sales, 127 active listing, and a benchmark sales price was $545,600. The average days on market were 16 days, and the hottest markets for sales were Collingwood VE and Mount Pleasant VE with 21 sales each.
The townhome market, on the other hand, had 20 sales and 68 active listings. The benchmark sale price was $879,200 with 21 average days on market. Collingwood VE and Mount Pleasant VE, with 4 sales each, had the most sales of the month.
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.rebgv.org