Greater Vancouver Real Estate Market Statistics – May 2016

Here are the latest real estate market statistics from Macdonald Realty on Greater Vancouver listings and sales in May 2016.

Vancouver

In the Vancouver Westside, there were 191 sales of detached homes and 587 active listings at the end of May. The benchmark sale price was $3,442,100, with an average days on market of 30. The hottest market for sales was Fairview VW with 37 sales.

In comparison, the condo market had 573 sales, 764 active listings and a benchmark sale price of $673,000 with 22 average days on market. The hottest market for sales was Downtown VW, 115 sales.

Townhome sales were 74, active listings were 83. The benchmark sale price was $1,035,400 with an average days on market of 16. Kitsilano, 14 sales, was the hottest market for sales in May.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_VanWest

The Vancouver Eastside had 221 sales and 479 active listings for detached homes at the end of the month. The benchmark sales price was $1,456,700, and the average days on market were 22. The hottest sales market was Knight with 25.

The condo market featured 182 sales, 219 active listing, and a benchmark sales price was $403,800. The average days on market were 20 days, and the hottest market for sales was Mount Pleasant VE with 54 sales.

The townhome market, on the other hand, had 27 sales and 39 active listings. The benchmark sale price was $725,500 with 17average days on market. Champlain Height, 8 sales, had the most sales in May.

MarketHotSheet_May2016_VanEast

North Shore

In May, the North Vancouver market had 137 sales and 229 active listings for detached homes. The benchmark sale price was $1,607,600 with an average days on market of 15. Canyon Heights NV, 22 sales, had the most sales activity.

There were 145 sales and 164 active listings for condos. The benchmark sale price was $422,600 with 14 average days on market. The neighbourhood of Lower Lonsdale with 45 sales was the hottest sales market.

Townhome sales were 49, active listings were 31, the benchmark sale price was $798,400, and the average days on market were 17. Lower Lonsdale with 13 sales had the most sales activity.

MarketHotSheet_May2016_NorthVan

The West Vancouver market had 103 sales and 408 active listings for detached homes. The benchmark sale price was $3,129,100 with 26 average days on market. Ambleside with 14 sales was the neighbourhoods with the most sales activity.

Condo sales were 35 and active listings were 53 at the end of the month. The benchmark sales price was $851,800 with an average days on market of 36. Ambleside had the most sales in May at 15.

In comparison, townhome market had 7 sales and 9 active listings; the average days on market were 17.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_WestVan

Tri Cities

In the Coquitlam market, there were 195 sales and 316 active listings for detached homes at the end of May. The benchmark sale price was $1,187,100, and the average days on market were 17. Central Coquitlam, 37 sales, experienced the most sales activity.

The condo market had 178 sales and 176 active listings. The benchmark sale price was $327,100 with 15 average days on market. The hottest market for sales was North Coquitlam, 63 sales.

Townhome featured 65 sales and 50 active listings. The benchmark sales price was $522,900 with an average days on market of 12. Westwood Plateau, 16 sales, was the neighbourhood with the most sales activity.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_Coquitlam

The Port Coquitlam had 81 sales and 101 active listings for detached homes. The benchmark sale price was $906,100 with an average days on market of 14. Glenwood PQ with 18 sales experienced the most sales activity of the month.

Condo featured 63 sales, 72 active listings, a $280,000 benchmark sales price, and 29 average days on market. Central Pt Coquitlam had the most sales activity at 53.

In comparison, townhome had 38 sales and 27 active listings. The benchmark sales price was $497,900 with an average days on market of 12. Citadel PQ was the hottest market with 13 sales.

MarketHotSheet_May2016_PortCoquitlam

There were 35 sales and 65 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,352,700, and the average days on market were 18. Anmore had the most sales activity of 8.

The condo market featured 55 sales, 48 active listings, $443,000 benchmark sale price, and 23 average days on market. Port Moody Centre, 23 sales, had most sales activity.

In comparison, townhome sales were 32, active listings were 25 and the benchmark sale price was $541,200. The average days on market were 15, and Heritage Woods with 9 sales was the hottest market for sales.

MarketHotSheet_May2016_PortMoody

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_May2016_BurnabyEast

Burnaby North

MarketHotSheet_May2016_BurnabyNorth

Burnaby South

MarketHotSheet_May2016_BurnabySouth

New Westminster

MarketHotSheet_May2016_NewWest

Richmond

MarketHotSheet_May2016_Richmond

Maple Ridge

MarketHotSheet_May2016_MapleRidge

Ladner

MarketHotSheet_May2016_Ladner

Tsawwassen

MarketHotSheet_May2016_Tsawwassen

Pitt Meadows

MarketHotSheet_May2016_PittMeadows

Bowen Island

MarketHotSheet_May2016_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