Telf Maynard : Your West-Side Vancouver Specialist. : Telf Maynard, REALTOR®, Vancouver, BC

The following is a summary of stats released by the Real Estate Board of Greater Vancouver. Most of it is specific to detached houses on the Westside of Vancouver. 

 

 

September: $1,315,517

October: $1,279,528

November: $1,116,267

December: $1,165,007

January: $1,134.773

 

3-Month Average: $1,138,682

 

1-Year Change: -19.3%

3-Year Change: +13.7%

5-Year Change: +54.5% 

 

 

September: 46

October: 52

November: 25

December: 56

January: 46

 

 

September: 314

October: 232

November: 128

December: 74

January: 195

 

 

September: 4314

October: 4241

November: 4112

December: 3424

January: 3230

 

 

September: 323

October: 285

November:  185

December: 211

January: 189

 

 

The number of listings for sale is down for the 4th month in a row!  Sales for the month are down a tiny bit, but most of them were in the second half of the month.  Real estate sales always come to a crawl during Vancouver snow storms (ie the first 2 weeks of January)!  From being out in the trenches, I can tell you that sales are actually WAY up.  The stats will reflect that next month.

 

Prices are down a tiny bit since December, but still way up over November. The median pricing stats are actually way down (over 30% since December), but that just reflects a massive increase in the volume of entry level housing being sold.  The first-time buyers are back en masse!  Condos are flying off the shelves.  Multiple offers and sales over list price are becoming common, and well priced entry-level homes are selling in a matter of days. 

 

Prices are low -- relatively speaking, quite likely the lowest they have EVER been in Vancouver.  They're not going down any more, and you've only got 6-12 months before they start to shoot back up.  (We're already seeing people raising asking prices...)  And with interest rates the lowest in over 50 years, why WOULDN'T you be buying?