Greater Vancouver Real Estate Market Statistics – March 2017

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

Vancouver

In the Vancouver Westside, there were 95 sales of detached homes and 595 active listings at the end of March. The benchmark sale price was $3,461,700, with an average days on market of 35. The hottest market for sales was Dunbar with 23 sales.

In comparison, the condo market had 455 sales, 656 active listings and a benchmark sale price of $692,400 with an average of 24 days on market. The hottest market for sales was Downtown VW, 109 sales.

Townhome sales were 57, active listings were 111. The benchmark sale price was $1,079,100 with an average days on market of 57. Fairview VW with 13 sales was the hottest market in March.

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

MarketHotSheet_March2017_VanWest

The Vancouver Eastside had 156 sales and 686 active listings for detached homes at the end of the month. The benchmark sales price was $1,452,200, and the average days on market were 36. The hottest sales market was Renfrew VE with 21 sales.

The condo market featured 179 sales, 201 active listing, and a benchmark sales price was $464,900. The average days on market were 19 days, and the hottest markets for sales were Collingwood VE and Mount Pleasant VE with 49 sales each.

The townhome market, on the other hand, had 29 sales and 49 active listings. The benchmark sale price was $734,700 with 22 average days on market. Champlain Heights, 9 sales, had the most sales in March.

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

MarketHotSheet_March2017_VanEast

North Shore

In March, the North Vancouver market had 98 sales and 266 active listings for detached homes. The benchmark sale price was $1,575,500 with an average days on market of 21. Lynn Valley with 13 sales had the most sales activity.

There were 127 sales and 122 active listings for condos. The benchmark sale price was $474,000 with 18 average days on market. The neighbourhood of Lower Lonsdale with 37 sales was the hottest sales market.

Townhome sales were 28, active listings were 33, the benchmark sale price was $866,100, and the average days on market were 13. Central Lonsdale with 8 sales had the most sales activity.

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

MarketHotSheet_March2017_NorthVan

The West Vancouver market had 60 sales and 405 active listings for detached homes. The benchmark sale price was $2,961,800 with 47 average days on market. Ambleside and British Properties, with 8 sales each, were the neighbourhoods with the most sales activities.

Condo sales were 28 and active listings were 40 at the end of the month. The benchmark sales price was $963,900 with an average days on market of 29. Ambleside had the most sales in March at 10.

In comparison, townhome market had 3 sales and 18 active listings; the average days on market were 23.

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

MarketHotSheet_March2017_WestVan

Tri Cities

In the Coquitlam market, there were 99 sales and 274 active listings for detached homes at the end of March. The benchmark sale price was $1,150,500, and the average days on market were 35. Central Coquitlam with 22 sales experienced the most sales activity.

The condo market had 153 sales and 116 active listings. The benchmark sale price was $371,100 with 17 average days on market. The hottest market for sales was North Coquitlam, 66 sales.

Townhome featured 44 sales and 48 active listings. The benchmark sales price was $538,400 with an average days on market of 19. Burke Mountain with 16 sales had the most sales activity in March.

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

MarketHotSheet_March2017_Coquitlam

The Port Coquitlam had 49 sales and 91 active listings for detached homes. The benchmark sale price was $884,000 with an average days on market of 30. Licoln Par PQ with 10 sales experienced the most sales activity of the month.

Condo featured 56 sales, 60 active listings, a $331,200 benchmark sales price, and 14 average days on market. Central Pt Coquitlam had the most sales activity at 47.

In comparison, townhome had 32 sales and 29 active listings. The benchmark sales price was $548,000 with an average days on market of 14. Riverwood was the hottest market with 10 sales.

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

MarketHotSheet_March2017_PortCoquitlam

There were 22 sales and 64 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,347,800, and the average days on market were 32. North Shore Pt Moody with 5 sales had the most sales activity.

The condo market featured 45 sales, 34 active listings, $509,900 benchmark sale price, and 19 average days on market. Port Moody Centre, 31 sales, had most sales activity.

In comparison, townhome sales were 15, active listings were 20 and the benchmark sale price was $522,600. The average days on market were 34. College Park PM with 9 sales was the hottest market for sales.

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

MarketHotSheet_March2017_PortMoody

Maple Ridge

In the Maple Ridge market, there were 109 sales and 282 active listings for detached homes at the end of the month. The benchmark sale price was $718,500, and the average days on market were 34. Albion with 24 sales experienced the most sales activity.

The condo market had 77 sales and 77 active listings. The benchmark sale price was $216,600 with 28 average days on market. The hottest market for sales was West Central, 48 sales.

Townhome featured 60 sales and 69 active listings. The benchmark sales price was $408,400 with an average days on market of 27. East Central with 26 sales had the most sales activity in March.

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

MarketHotSheet_March2017_PortMoody

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_March2017_BurnabyEast

Burnaby North

MarketHotSheet_March2017_BurnabyNorth

Burnaby South

MarketHotSheet_March2017_BurnabySouth

New Westminster

MarketHotSheet_March2017_NewWest

Richmond

MarketHotSheet_March2017_Richmond

Ladner

MarketHotSheet_March2017_Ladner

Tsawwassen

MarketHotSheet_March2017_Tsawwassen

Pitt Meadows

MarketHotSheet_March2017_PittMeadows

Bowen Island

MarketHotSheet_March2017_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