July 2018 Vancouver West Stats

July 2018


Typically, the real estate market will slow down in the summer months, with an increase slightly in mid - September and then take a slower turn as it approaches November. Below are the statistics for July 2018 in comparison to July 2017.

Detached Properties:                                                         One year Change


Total Active Listings                          858                                        +6.3%

Sales                                                  57                                         -23%
Days on Market Average                   54                                         +50%
MLS HPI Benchmark Price                $3,356,500                           -8.4%
             
Condos:

Total Active Listings                         1203                                       +20.2%

Sales                                                 295                                         -25.5%

Days on Market Average                    17                                         +52.9%
MLS HPI Benchmark Price              $835,200                                 +6.6%

Townhomes:

Total Active Listings                          198                                          +22%
Sales                                                  39                                           -2.5%
Days on Market Average                   29                                          +107%
MLS HPI Benchmark Price              $1,288,600                              +4.0%



What does all this mean?

In the detached home market on the west side of Vancouver, prices are down around 8% from last year, sales activity is down as well, and listings are up. All of this creates a BUYER'S MARKET - great time to BUY!


For condos, activity continues to be strong, with prices up, listing numbers up, but activity down in the summer months. It is a SELLER'S MARKET.


For townhomes, which is a small market on the west side, listings are up, sales slightly down but prices still on the rise. One reason for this is lack of supply and high demand, especially amonst the down sizing crowd. This is a BALANCED MARKET.



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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.