The Real Estate Insider Blog

It's Autumn... the hockey season has started and the Blue Jays are making a run to take October!  The Vancouver real estate market is still going strong! Here are 5 things you should know about the real estate market in Greater Vancouver:

1. Supply:  We had 3,081 properties listed thru the month of September which is down -36.6% from this time last year (September 2014) and down -3.4% from last month (August 2015). 
   If we look into those stats further.... we have 2.3 months of inventory for detached houses and 2.8 months of inventory for attached homes.
   
   
2. Demand: 1,178 properties sold in September which is up +20.1% from this time last year (September 2014) and is down -1.2% from last month (August 2015).
   
   
3. Time:  The average time for a detached house to sell was 11 days.  For attached homes it was 26 days.
   
   
4. Prices: The average price of detached house is $829,597 which is up +18.4% from last year (September 2014) and down -2.1% from last month (August 2015). 
   The average price of an attached home is $337,689 which is up +15.4% from last year (September 2014) and down -5.5% from last month (August 2015).
   
   
5. Hottest Areas

For Detached houses, the following areas saw the largest price increases from this time last year (September 2014):

• Burnaby with an increase of +31.6% to an Average price of $1,270,000.  There is also just 3.6 months of supply for detached houses.
  
• Port Coquitlam with an increase of +22.7% to an Average price of $705,300.  There is also just 1.3 months of supply for detached houses.
  
• Maple Ridge with an increase of +22.3% to an Average price of $527,450.  There is also just 1.7 months of supply for detached houses.
  

For Attached homes, the following areas saw the largest price increases from this time last year (September 2014):  

• Maple Ridge with an increase of +20.9% to an Average price of $290,000.  There is also just 3.8 month of inventory for attached homes.
  
• Pitt Meadows with an increase of +16.2% to an Average price of $305,850.  There is also just 2.5 months of supply of attached homes.
  
• Port Coquitlam with an increase of +10.3% to an Average price of $303,000.  There is also just 3.2 months of supply of condos, townhomes and 1/2 duplexes.
  

Tags

• Real Estate Market Report (6)
• Greater Vancouver (3)
• Greater Vancouver Real Estate stats (3)
• September market stats (2)