Search Vancouver Condos & Apartments For Sale

 

Only Vancouver’s West Side House Prices Decline January 2017 And Overall Sales Drop

by Maggie Chandler

Only Vancouver’s West Side House Prices Decline January 2017 And Overall Sales Drop

by Maggie Chandler

by Maggie Chandler

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

put my decades of hyper-local knowledge to work for you!

Comments

comments

Top

Contact Maggie Chandler today to find your Vancouver dream home