Greater Vancouver Real Estate Market Statistics – August 2017

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

Vancouver

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

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

North Shore

In August, the North Vancouver market had 75 sales and 306 active listings for detached homes. The benchmark sale price was $1,711,100 with an average days on market of 31. Upper Lonsdale with 8 sales had the most sales activity.

There were 112 sales and 106 active listings for condos. The benchmark sale price was $551,000 with 17 average days on market. The neighbourhoods of Lower Lonsdale with 39 sales was the hottest sales market.

Townhome sales were 26, active listings were 49, the benchmark sale price was $968,400, and the average days on market were 15. Central Lonsdale, Hamilton Heights, Lower Lonsdale, and Lynn Valley, with 4 sales each, had the most sales activities.

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

MarketHotSheet_August2017_NorthVan

The West Vancouver market had 30 sales and 501 active listings for detached homes. The benchmark sale price was $3,189,500 with 40 average days on market. British Properties with 5 sales was the neighbourhood with the most sales activity.

Condo sales were 19 and active listings were 47 at the end of the month. The benchmark sales price was $1,128,000 with an average days on market of 36. Ambleside had the most sales at 11.

In comparison, townhome market had 0 sales and 13 active listings.

It’s a buyer’s market for single family homes and townhouses.

MarketHotSheet_August2017_WestVan

Tri Cities

In the Coquitlam market, there were 85 sales and 412 active listings for detached homes at the end of the month. The benchmark sale price was $1,279,200, and the average days on market were 34. Central Coquitlam with 19 sales experienced the most sales activity.

The condo market had 126 sales and 149 active listings. The benchmark sale price was $476,900 with 15 average days on market. The hottest market for sales was North Coquitlam, 46 sales.

Townhome featured 34 sales and 62 active listings. The benchmark sales price was $640,300 with an average days on market of 15. Burke Mountain with 11 sales had the most sales activity.

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

MarketHotSheet_August2017_Coquitlam

The Port Coquitlam had 48 sales and 117 active listings for detached homes. The benchmark sale price was $1,002,900 with an average days on market of 21. Glenwood PQ and Oxford Heights, with 7 sales each, experienced the most sales activities of the month.

Condo featured 45 sales, 50 active listings, a $412,200 benchmark sales price, and 12 average days on market. Central Pt Coquitlam had the most sales activity at 32.

In comparison, townhome had 18 sales and 38 active listings. The benchmark sales price was $642,800 with an average days on market of 23. Riverwood was the hottest market with 6 sales.

It’s a seller’s market for all product types.

MarketHotSheet_August2017_PortCoquitlam

There were 13 sales and 92 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,491,300, and the average days on market were 50. College Park PM and Heritage Woods PM with 3 sales each had the most sales activities.

The condo market featured 33 sales, 30 active listings, $580,700 benchmark sale price, and 17 average days on market. Port Moody Centre, 22 sales, had most sales activity.

In comparison, townhome sales were 19, active listings were 16 and the benchmark sale price was $608,700. The average days on market were 15. North Shore Pt Moody and Port Moody Centre, with 5 sales each, were the hottest markets for sales.

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

MarketHotSheet_August2017_PortMoody

Maple Ridge

In the Maple Ridge market, there were 120 sales and 393 active listings for detached homes at the end of the month. The benchmark sale price was $803,800, and the average days on market were 26. Cottonwood MR with 20 sales experienced the most sales activity.

The condo market had 29 sales and 28 active listings. The benchmark sale price was $252,000 with 12 average days on market. The hottest market for sales was East Central, 15 sales.

Townhome featured 47 sales and 44 active listings. The benchmark sales price was $508,100 with an average days on market of 11. Cottonwood MR with 14 sales had the most sales activity.

It’s a seller’s market for all product types.

MarketHotSheet_August2017_MapleRidge

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_August2017_BurnabyEast

Burnaby North

MarketHotSheet_August2017_BurnabyNorth

Burnaby South

MarketHotSheet_August2017_BurnabySouth

New Westminster

MarketHotSheet_August2017_NewWest

Richmond

MarketHotSheet_August2017_Richmond

Ladner

MarketHotSheet_August2017_Ladner

Tsawwassen

MarketHotSheet_August2017_Tsawwassen

Pitt Meadows

MarketHotSheet_August2017_PittMeadows

Bowen Island

MarketHotSheet_August2017_BowenIsland

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.rebgv.org