According to the Real Estate Board of Greater the Metro Vancouver housing market experienced below-average sales activity and moderate price declines in 2019.
“We didn’t see typical seasonal patterns in 2019. Homebuyer demand was quieter in the normally busy spring season and it picked up in the second half of the year,” Ashley Smith, REBGV president said. “In terms of home values, prices dipped between two and four percent across the region last year depending on the property type.”
Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in December 2019.
Vancouver-East had 74 sales and 348 active listings for detached homes at the end of the month. The benchmark sales price was $1,390,100.
The condo market featured 98 sales, 252 active listings, and a benchmark sales price was $559,300.
The townhome market had 17 sales and 37 active listings. The benchmark sale price was $880,800.
It’s a seller’s market for condos and townhomes in Vancouver-East.
In December, Vancouver West market had 60 sales and 497 active listings for detached homes. The benchmark sale price was $2,920,800.
There were 260 sales and 847 active listings for condos. The benchmark sale price was $760,300.
The townhome market had 30 sales and 177 active listings. The benchmark sale price was $1,135,600.
It’s a buyer’s market for homes in Vancouver West.
In West Vancouver, there were 28 sales of detached homes and 324 active listings at the end of the month. The benchmark sale price was $2,588,900.
In comparison, the condo market had 11 sales, 82 active listings and a benchmark sale price of $1,009,900.
The townhome market had 5 sales and 15 active listings.
It’s a buyer’s market for homes and condos in West Vancouver .
Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
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