Greater Vancouver Real Estate Market Statistics – March 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in March 2018.

Vancouver – West

In the Vancouver Westside, there were 54 sales of detached homes and 800 active listings at the end of the month. The benchmark sale price was $3,449,000, with average days on market of 37. The hottest markets for sales were Kitsliano and Dunbar with 11 and 8 sales respectively.

In comparison, the condo market had 352 sales, 719 active listings and a benchmark sale price of $844,700 with an average of 18 days on market. The hottest market for sales was Downtown VW, 72 sales.

Townhome sales were 31, active listings were 142. The benchmark sale price was $3,449,000 with an average days on market of 16. Fairview VW with 6 sales was the hottest market of the month.

It’s a seller’s market for condos in Vancouver-West.

MarketHotSheet_March2018_VancouverWest

Vancouver – East

The Vancouver Eastside had 84 sales and 715 active listings for detached homes at the end of the month. The benchmark sales price was $1,553,100, and the average days on market were 42. The hottest sales market was Kilarney with 11 sales.

The condo market featured 156 sales, 197 active listing, and a benchmark sales price was $577,600. The average days on market were 19 days, and the hottest market for sales was Mount Pleasant VE with 50 sales each.

The townhome market, on the other hand, had 31 sales and 65 active listings. The benchmark sale price was $908,200 with 21 average days on market. Fraser VE and Mount Pleasant VE, with 5 sales each, had the most sales of the month.

It’s a seller’s market for condos and townhomes.MarketHotSheet_March2018_VancouverEast

North Shore

In March, the North Vancouver market had 67 sales and 341 active listings for detached homes. The benchmark sale price was $1,723,200 with an average days on market of 38. Lynn Valley with 12 sales had the most sales activity.

There were 117 sales and 127 active listings for condos. The benchmark sale price was $601,400 with 14 average days on market. The neighbourhood of Lower Lonsdale with 31 sales was the hottest sales market.

Townhome sales were 29, active listings were 54, the benchmark sale price was $1,005,400, and the average days on market were 20. Lynnmour and Central Lonsdale with 7 and 6 sales respectively had the most sales activity.

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

MarketHotSheet_March2018_NorthVancouver

West Vancouver

The West Vancouver market had 26 sales and 479 active listings for detached homes. The benchmark sale price was $3,115,400 with 48 average days on market. Ambleside and West Bay with 4 sales each were the neighborhoods with the most sales activity.

Condo sales were 14 and active listings were 62 at the end of the month. The benchmark sales price was $1,278,600 with an average days on market of 24. Ambleside had the most sales at 8.

In comparison, townhome market had 2 sales and 25 active listings.

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

MarketHotSheet_March2018_WestVancouver

Tri Cities

In the Coquitlam market, there were 79 sales and 392 active listings for detached homes at the end of the month. The benchmark sale price was $1,290,900, and the average days on market were 35. Burke Mountain with 19 sales experienced the most sales activity.

The condo market had 91 sales and 107 active listings. The benchmark sale price was $536,300 with 12 average days on market. The hottest market for sales was North Coquitlam, 41 sales.

Townhome featured 31 sales and 32 active listings. The benchmark sales price was $689,300 with an average days on market of 12. Westwood Plateau, with 13 sales, had the most sales activity.

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

MarketHotSheet_March2018_Coquitlam

The Port Coquitlam had 31 sales and 102 active listings for detached homes. The benchmark sale price was $1,028,000 with an average days on market of 24. Glenwood PQ with 9 sales experienced the most sales activities of the month.

Condo featured 41 sales, 36 active listings, a $478,600 benchmark sales price, and 24 average days on market. Central Pt Coquitlam had the most sales activity at 29.

In comparison, townhome had 27 sales and 26 active listings. The benchmark sales price was $673,600 with an average days on market of 11. Riverwood was the hottest markets with 15 sales..

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

MarketHotSheet_March2018_PortCoquitlam

There were 7 sales and 84 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,484,800, and the average days on market were 47. Anmore with 3 sales had the most sales activities.

The condo market featured 33 sales, 26 active listings, $675,000 benchmark sale price, and 15 average days on market. Port Moody Centre, 26 sales, had most sales activity.

In comparison, townhome sales were 16, active listings were 20 and the benchmark sale price was $659,800. The average days on market were 9. College Park PM, North Shore Pt Moody and Port Moody Centre with 4 sales each were the hottest market for sales.

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

MarketHotSheet_March2018_PortMoody

Maple Ridge

In the Maple Ridge market, there were 103 sales and 297 active listings for detached homes at the end of the month. The benchmark sale price was $852,300, and the average days on market were 32. East Central with 23 sales experienced the most sales activity.

The condo market had 39 sales and 54 active listings. The benchmark sale price was $316,100 with 9 average days on market. The hottest market for sales was East Central, 18 sales.

Townhome featured 37 sales and 76 active listings. The benchmark sales price was $575,100 with an average days on market of 19. East Central with 11 sales had the most sales activity.

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

MarketHotSheet_March2018_MapleRidge

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_March2018_BurnabyEast

Burnaby North

MarketHotSheet_March2018_BurnabyNorth

Burnaby South

MarketHotSheet_March2018_BurnabySouth

New Westminster

MarketHotSheet_March2018_NewWestminster

Richmond

MarketHotSheet_March2018_Richmond

Ladner

MarketHotSheet_March2018_Ladner

Tsawwassen

MarketHotSheet_March2018_Tsawwassen

Pitt Meadows

MarketHotSheet_March2018_PittMeadows

Bowen Island

MarketHotSheet_March2018_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