October 2018 Stats Update



While Townhouses and Apartments are leaning toward Seller's market, Houses are in favor of Buyers (in Greater Vancouver in October 2018)! This is a great time if you are shopping for houses; whether you are a first time buyer or you have a property to sell. If so, contact me now and let's have a conversation! 
In a summary, Detached, Apartment and Townhouse in October 2018 in Greater Vancouver are as following:



Regional Home Sales

1,966 in October 2018 à 34.9% decrease (less buyers) from the 3,022 sales recorded in October 2017, and a 23.3% increase compared to September 2018 when 1,595 homes sold. Last month’s sales were 26.8% below the 10-year October sales average.

Total properties listed in October 2018

4,873 new listings for sale in Metro Vancouver à 7.4% increase compared to the 4,539 homes listed in October 2017 and a 7.7% decrease compared to September 2018 when 5,279 homes were listed.

Numer of homes currently listed for sale in Metro Vancouver in Total

12,984 à 42.1% increase (More sellers in the market and less buyers!) compared to October 2017 (9,137) and a 0.8% decrease compared to September 2018 (13,084).

Sales-to-active listings ratio

15.1% in Metro Vancouver for all property types (Buyer’s Market < 12% Balanced Market < 20% Seller’s Market)
·       Detached: 10.3% - Buyer's Market
·       Apartment: 20.6% - Seller's Market
·       Townhouse: 17.3% - Balanced Market

Sales

1,966 in October 2018 à 34.9% decrease from the 3,022 sales recorded in October 2017, and a 23.3% increase compared to September 2018 when 1,595 homes sold. Last month’s sales were 26.8 per cent below the 10-year October sales average. Times like this are great, just get in touch with me and I’ll tell you why! 
·       Detached: 637 à 32.2% decrease from the 940 detached sales recorded in October 2017
·       Apartment: 985 à 35.7% decrease compared to the 1,532 sales in October 2017.
·       Townhouse: 344 à 37.5% decrease compared to the 550 sales in October 2017


MLS HPI

$1,062,100 for all residential homes in Metro Vancouver à 1% increase from October 2017 and a 3.3% decrease over the last three months 

·       Detached: $1,524,000 à 5.1% decrease from October 2017 and a 3.9% decrease over the last three months

·       Apartment: $683,500 à 5.8% increase from October 2017 and a 3.1% decrease over the last three months
·       Townhouses: $829,200 à 4.4
% increase from October 2017 and a 2.8
% decrease over the last three months





North Vancouver House prices have decreased 6.2% since October 2017!



 Vancouver West House prices have decreased 9.9% since October 2017!



West Vancouver House prices have decreased 10.9% since October 2017!

Given the continuous high sales to active ratio for apartments and townhouse and low houses sales ratio, this simply means that IT IS TIME FOR UP-SIZING!
Contact me now for more details!


What is MLS HPI?

Thank you for taking the time and reading my blog. I hope you have learned something from this. Please contact me if you have any questions or need Consultation!

Source: REBGV