The Real Estate Insider Blog

Hello summer!  Our kids our out of school and the real estate market in Vancouver market has seen one of the strongest June's in history.  I have analyzed all of the stats from June and here are 5 things you should know about the real estate market in Metro Vancouver:

1. Supply:  We had 5,960 properties listed thru the month of June which is down -36.5% from this time last year (June 2014) and another -5.5% from last month (May 2015). 
   If we look into those stats further.... we have 2.2 months of inventory for detached houses and 2.5 months of inventory for attached homes.
   
   
2. Demand: 2,415 properties sold in June which is up +26.3% from this time last year (June 2014) and is up -3.2% from last month (May 2015).
   
   
3. Time:  The average time for a detached house to sell was 15.7 days.  For attached homes it was 24.4 days.
   
   
4. Prices: The average price of detached house is $1,557,571 which is up +23.2% from last year (June 2014) and up 2.4% from last month (May 2015). 
   The average price of an attached home is $503,938 which is up +2.7% from last year (June 2014) and down .9% from last month (May 2015).
   
   
5. Hottest Areas

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

• the Vancouver Westside with an increase of +29% to an Average price of $2,967,500.  There is also just 2.5 months of supply for detached houses.
  
• Ladner with an increase of +28.5% to an Average price of $810,000.  There is also just 2.2 months of supply for detached houses.
  
• North Vancouver with an increase of +24.3% to an Average price of $1,261,500.  There is also just 1.5 months of supply for detached houses.
  

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

• the Vancouver Westside with an increase of +19.7% to an Average price of $608,000.  There is also just 2.6 month of inventory for attached homes.
  
• the Vancouver Eastside with an increase of +9.1% to an Average price of $412,000.  There is also just 2 months of supply of attached homes.
  
• North Vancouver with an increase of +8.9% to an Average price of $488,000.  There is also just 2.2 months of supply of condos and townhomes.
  

Tags

• Real Estate Market Stats (4)
• Vancouver Real Estate Market (3)
• June Real Estate Stats (1)