“Demand remains elevated and listings scarce in the attached and apartment markets across Metro Vancouver,” Real Estate Board of Vancouver president, Jill Oudil, remarked on the numbers that categorized the first month of 2018. Residential home sales were 7.1% above the 10-year average for January. While by property type, detached sales were 24.8% down from the 10-year average for the same period and attached sales 14.3% up, as were apartment sales at a 31.6% increase.
“Buyers in the detached market are facing less competition and have much more selection to choose. For detached home sellers to be successful, it’s important to set prices that reflect today’s market trends,” she cautioned those looking to sell their Vancouver property this year.
Total Homes Listed for Sale (detached, attached, and apartment): 1,818
9.8% decrease from December 2017
19.4% increase from January 2017
New Property Listings (detached, attached, and apartment): 3,796
100.7% increase from December 2017
8.3% increase from January 2017
Total Property Listings (detached, attached, and apartment): 6,947
0.2% decrease from December 2017
4.0% decrease from January 2017
Sales-to-Active Listings Ratio: 26.2%
Detached: 11.6%
Townhomes: 32.8%
Apartments: 57.2%
Benchmark price for all properties is $1,056,500
16.6% increase from January 2017
0.6% increase from December 2017
Benchmark price for a detached property is $1,601,500
0.3% decrease from December 2016
8.3% increase from January 2017
Detached property sales totaled 487
9.7% increase from January 2017
Benchmark price for an apartment property is $665,400
1.5% increase from December 2017
27.4% increase from January 2017
Apartment property sales totaled 1,012
22.7% increase from January 2017
Benchmark price for an attached unit is $803,700
Unchanged from December 2017
17.5% increase from January 2017
Attached property sales totaled 319
25.6% increase from January 2017
If you’re interested in seeing the complete breakdown, visit rebgv.org for all of the detailed comparisons. Oudil suggests navigating this seller’s market with savvy advice from your Realtor. Want some advice on how your home fits in? Call us for a consultation today!
*REBGV Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
Register for free to access all we has to offer including premium data and advanced features.
Enter your email address to have temporally password emailed to you. It will be valid for 24h
You can use this dashboard to help your search for a new property.
The save searches tab will show you all the searches you have saved. A saved search will let you come back to view new property listings with your given search parameters. For example if you are looking for a 2 bedroom apartment in Burnaby you can save that search and quickly check for new listings or even get us to send you an email when new properties are listed.
The saved listings tab will show all your saved listings. If you are interested in a few properties and want to save them to come back to later this gives you quick access to that.
