Greater Vancouver Real Estate Market Statistics – May 2017

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

Vancouver

In the Vancouver Westside, there were 188 sales of detached homes and 635 active listings at the end of the month. The benchmark sale price was $3,588,300, with an average days on market of 42. The hottest market for sales was Kitsilano with 25 sales.

In comparison, the condo market had 528 sales, 664 active listings and a benchmark sale price of $737,500 with an average of 20 days on market. The hottest market for sales was Downtown VW, 112 sales.

Townhome sales were 67, active listings were 110. The benchmark sale price was $1,154,200 with an average days on market of 24. Kitsilano with 19 sales was the hottest market in May.

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

MarketHotSheet_May2017_VanWest

The Vancouver Eastside had 200 sales and 765 active listings for detached homes at the end of the month. The benchmark sales price was $1,513,800, and the average days on market were 29. The hottest sales market was Knight with 25 sales.

The condo market featured 213 sales, 220 active listing, and a benchmark sales price was $496,800. The average days on market were 18 days, and the hottest market for sales was and Mount Pleasant VE with 67 sales.

The townhome market, on the other hand, had 42 sales and 60 active listings. The benchmark sale price was $792,300 with 19 average days on market. Mount Pleasant VE, 8 sales, had the most sales in May.

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

MarketHotSheet_May2017_VanEast

North Shore

In May, the North Vancouver market had 139 sales and 334 active listings for detached homes. The benchmark sale price was $1,656,500 with an average days on market of 22. Lynn Valley with 19 sales had the most sales activity.

There were 135 sales and 118 active listings for condos. The benchmark sale price was $502,200 with 16 average days on market. The neighbourhood of Lower Lonsdale with 50 sales was the hottest sales market.

Townhome sales were 42, active listings were 38, the benchmark sale price was $917,500, and the average days on market were 10. Central Lonsdale with 7 sales had the most sales activity.

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

MarketHotSheet_May2017_NorthVan

The West Vancouver market had 63 sales and 482 active listings for detached homes. The benchmark sale price was $3,080,600 with 38 average days on market. Ambleside and British Properties, with 9 sales each, were the neighbourhood with the most sales activities.

Condo sales were 28 and active listings were 46 at the end of the month. The benchmark sales price was $1,033,000 with an average days on market of 17. Ambleside had the most sales in May at 10.

In comparison, townhome market had 4 sales and 19 active listings; the average days on market were 22.

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

MarketHotSheet_May2017_WestVan

Tri Cities

In the Coquitlam market, there were 144 sales and 351 active listings for detached homes at the end of May. The benchmark sale price was $1,231,200, and the average days on market were 21. Central Coquitlam with 27 sales experienced the most sales activity.

The condo market had 140 sales and 127 active listings. The benchmark sale price was $397,100 with 13 average days on market. The hottest market for sales was North Coquitlam, 52 sales.

Townhome featured 58 sales and 46 active listings. The benchmark sales price was $565,100 with an average days on market of 13. Burke Mountain with 18 sales had the most sales activity in May.

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

MarketHotSheet_May2017_Coquitlam

The Port Coquitlam had 68 sales and 106 active listings for detached homes. The benchmark sale price was $967,600 with an average days on market of 14. Oxford Heights with 19 sales experienced the most sales activity of the month.

Condo featured 60 sales, 48 active listings, a $349,900 benchmark sales price, and 13 average days on market. Central Pt Coquitlam had the most sales activity at 41.

In comparison, townhome had 40 sales and 38 active listings. The benchmark sales price was $574,100 with an average days on market of 18. Riverwood was the hottest market with 12 sales.

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

MarketHotSheet_May2017_PortCoquitlam

There were 30 sales and 82 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,430,100, and the average days on market were 23. Anmore with 7 sales had the most sales activity.

The condo market featured 42 sales, 46 active listings, $545,900 benchmark sale price, and 13 average days on market. Port Moody Centre, 29 sales, had most sales activity.

In comparison, townhome sales were 33, active listings were 19 and the benchmark sale price was $561,000. The average days on market were 13. North Shore Port Moody with 9 sales was the hottest market for sales.

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

MarketHotSheet_May2017_PortMoody

Maple Ridge

In the Maple Ridge market, there were 162 sales and 321 active listings for detached homes at the end of the month. The benchmark sale price was $760,300, and the average days on market were 33. Albion and East Central, with 26 sales each, experienced the most sales activity.

The condo market had 54 sales and 47 active listings. The benchmark sale price was $225,700 with 35 average days on market. The hottest market for sales was West Central, 34 sales.

Townhome featured 73 sales and 45 active listings. The benchmark sales price was $431,200 with an average days on market of 21. East Central with 16 sales had the most sales activity in May.

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

MarketHotSheet_May2017_MapleRidge

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_May2017_BurnabyEast

Burnaby North

MarketHotSheet_May2017_BurnabyNorth

Burnaby South

MarketHotSheet_May2017_BurnabySouth

New Westminster

MarketHotSheet_May2017_NewWest

Richmond

MarketHotSheet_May2017_Richmond

Ladner

MarketHotSheet_May2017_Ladner

Tsawwassen

MarketHotSheet_May2017_Tsawwassen

Pitt Meadows

MarketHotSheet_May2017_PittMeadows

Bowen Island

MarketHotSheet_May2017_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