Since August 1, 2016 we've seen some drastic changes in buyer demand for real estate in Metro Vancouver*. While attached propeties continue to perform in strong seller's markets, In just over two months Metro Vancouver* Detached properties moved from accellerated seller's markets to buyer's markets, the only exception was in North Vancouver which is now balanced. While we have seen a slow down in sales for single family homes, we are not seeing the same for sales prices.

 

The median price of a single family home in September 2016 vs September 2015

• North Vancouver 18% higher
• West Vancouver 13.3% higher
• Vancouver West 3.5% higher
• Vancouver East 20% higher
• Richmond 31.4% higher
• Tsawwassen 29.6% higher
• Ladner 17% higher

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Here are the highlights for September: 

• September 2016 Metro Vancouver sales dropped 9.6% below the 10-year-average for the month 
• Sales of North Vancouver Detached Properties were 50% lower than September 2015 with 56.3% more inventory
• Sales of North Vancouver Attached Properties were 12.4% lower than September 2015 with 38.6% less inventory
• Sales of West Vancouver Detached Properties were 66% lower than September 2015 with 12.5% less inventory
• Sales of West Vancouver Attached Properties were 43% lower than September 2015 with 34.4% less inventory
• Sales of Downtown Condo Properties were 26.7% lower than September 2015 with 10.9% less inventory

Market types in September 2016: 

• Metro Vancouver's Sales-to-Active listing ratio is the lowest since February 2015
• Metro Vancouver's market type is a seller's market at 24.1% with 2.4 out of every 10 properties sold
• North Vancouver Detached properties is a balanced market at 17% with 54 sales out of 311 listings
• North Vancouver Attached properties is a seller's market at 61% with 127 sales out of 207 listings
• West Vancouver Detached properties is a buyer's market at 6% with 23 sales out of 412 listings
• West Vancouver Attached properties is a seller's market at 29% with 17 sales out of 59 listings
• Coal Harbour Condos are in a seller's market at 39% with 24 sales out of 62 listings

Read your full reports here: North Vancouver September 2016, West Vancouver September 2016, Vancouver West September 2016.

 

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

 

The accuracy and completeness of the information is not guaranteed. Data was captured on October 3, 2016, from the Real Estate Board Of Greater Vancouver.