Vancouver’s West Side House Prices decline in January 2017 as did sales, but listings saw an uptick..
Listings – House listings are 595, up 14% from a year ago. Townhomes are 87, down 10% from a year ago and condos sit at 691 which is 15% less than a year ago. 1373 listings in total, which is 4.6% less than a year ago.
New Listings – January saw 862 new listings which is 10.7% less than a year ago.
Sales – totalled 269 for the month, a drop of 42% from a year ago and equal to October’08. Only 37 West Side house sales for the month, a 72% drop from Jan’16 and down from 64 in December. Condos had 213 sales, a 30% drop from a year ago and townhomes had 19 sales, a 38% drop from a year ago. This is the lowest month for sales since Dec’12.
Average Sale Price – for all property types is down 27% from a year ago and equal to Feb’13. Houses topped in July’16 at $4.2M and are down to $3.4M, a 10% decline from a year ago. Townhomes and condos are more stable. Townhomes sit at $1.16M which is 6% higher than a year ago and condos sit at $843,000, also 6% higher than a year ago. Overall the average sale price is now equal to Sept’15 and is due to the drop in houses.
Best Selling Price Range – for condos 4500,000-$600,000. Townhomes $1.3-$1.4M, houses over $3M.
Days on Market – 35 overall. Houses averaged 51, townhomes 28 and condos 33
Sales to Active Ratio – only 6% for houses compared to the peak the in May last year when it was 30%. Townhomes are 21% and condos 30%
Percentage of Original Price –on average houses are selling at 95%, townhomes and condos are 98.5%.
Dollar Volume – total dollar volume is down 58% from a year ago and the lowest its been since Dec’12.
as per REBGV stats feb 2/17
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