As we get into the full swing of fall, the Vancouver real estate market is starting to show some effects of the recently implemented Foreign Buyer’s Tax and the impending proposed Vacancy Tax. September’s sales were 9.6% below the 10-year sales average for the month.
“Changing market conditions are easing upward pressure on home prices in our region,” REBGV president Dan Morrison said. “There’s uncertainty in the market at the moment and home buyers and sellers are having difficulty establishing price as a result. To help you understand the factors affecting prices, it’s important to talk with a realtor.”
Vancouver’s top realtor is pleased to assist potential home sellers in determining their home’s market value. Especially in the condo and townhome market, which is seeing a higher demand these days. Home sales of all types reached 2,253 last month, a 32.6% decrease from September 2015 and a 9.5% decrease from August 2016.
The September Vancouver Real Estate Market Stats:
New Listings (detached, attached, and apartment): 4,799
1% decrease from September 2015
11.8% increase from August 2016
Total Active listings on MLS®: 9,354
13.4% decrease from September 2015
10% increase from August 2016
Sales-to-Active-Listings ratio: 24.1%
Lowest since February 2015
Benchmark price for all residential properties: $931,900
28.9% increase from September 2015
0.1% decrease from August 2016
Benchmark price for a detached property is $1,579,400
33.7% increase from September 2015
0.1% increase from August 2016
Detached property sales totaled 666
47.6% decrease from September 2015
Benchmark price for an apartment property is $511,800
23.5% increase from September 2015
0.5% decrease from August 2016
Apartment property sales totaled 1,218
20.3% decrease from September 2015
Benchmark price for an attached unit is $677,000
29.1% increase from September 2015
0.1% decrease from August 2016
Attached property sales totaled 369
32.2% decrease from September 2015
For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me today.
*REBGV Editor’s Note: Areas covered by 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, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.