Greater Vancouver Real Estate Market Statistics – July 2018

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

Vancouver-West

In the Vancouver Westside, there were 57 sales of detached homes and 858 active listings at the end of the month. The benchmark sale price was $3,356,500, with average days on market of 54. The hottest markets for sales were Dunbar, Kitsilano and Southlands with 7 sales each.

In comparison, the condo market had 295 sales, 1,203 active listings and a benchmark sale price of $835,200 with an average of 26 days on market. The hottest market for sales was Downtown VW, 55. sales.

Townhome sales were 39, active listings were 198. The benchmark sale price was $1,288,600 with an average days on market of 29. Kitsilano with 8 sales was the hottest market of the month.

It’s a buyer’s market for houses in Vancouver-West.

MarketHotSheet_July2018_VancouverWest

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Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – June 2018

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in June 2018.

Squamish

In June 2018, there were 11 sales of detached homes and 156 active listings in Squamish. The benchmark sale price was $1,039,000 with an average days on market of 49.

The Condo market had 14 sales and 52 active listings at the end of the month.  The benchmark sale price was $530,300 with an average days on market of 57.

Townhome sales were 13 sales, active listings were 39. The benchmark sale price was $899,800 and the average days on market were 23.

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

MarketHotSheet_June2018_Squamish

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Greater Vancouver Real Estate Market Statistics – January 2018

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

Vancouver

In the Vancouver Westside, there were 46 sales of detached homes and 672 active listings at the end of the month. The benchmark sale price was $3,548,400, with an average days on market of 68. The hottest markets for sales were Dunbar and Point Grey with 8 sales each.

In comparison, the condo market had 245 sales, 579 active listings and a benchmark sale price of $812,400 with an average of 28 days on market. The hottest market for sales was Downtown VW, 54 sales.

Townhome sales were 18, active listings were 105. The benchmark sale price was $1,247,900 with an average days on market of 26. Yaletown with 6 sales was the hottest market of the month.

It’s a seller’s market for condos.

MarketHotSheet_January2018_Vancouver-West

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Squamish, Whistler and Sunshine Coast Real Estate Market Statistics – January 2018

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler, and Sunshine Coast listings and sales in January 2018.

Squamish

In January 2018, there were 6 sales of detached homes and 99 active listings in Squamish. The benchmark sale price was $1,003,000 with an average days on market of 104.

The Condo market had 6 sales and 27 active listings at the end of the month. The benchmark sale price was $490,400 with an average days on market of 28.

Townhome sales were 9, active listings were 18. The benchmark sale price was $786,900, and the average days on market were 34.

It’s a buyer’s market for houses.

MarketHotSheet_January2018_Squamish

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Are Prices Down, or Not? Average Price vs. Benchmark Price

Why are some articles saying prices are going down, and others saying that for the same product category, they’re not? How is that even possible? Whenever you read real estate reports, it is important to understand how the data used is interpreted by the author. With the high price points of Vancouver’s heated real estate market, conversations about predicting where property values will go next seems to have become a daily conversation wherever we go. In this video, I discuss the difference between the two common ways of measuring price points: Average Price vs. (HPI) Benchmark Price.

 Are prices down, or not? Two ways to measure prices.

When looking at activity for a given period of time, the Average Price per unit is exactly that – an average of all of the sales for that period within a certain market segment.

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