Real Estate Market Stats you should you know for Metro Vancouver?
Posted by Tony Cikes on
it's Summer and the 2nd quarter of the year is done. The sun is shinning and the blue skies are clear! Both the weather and the Vancouver real estate market are phenomenal this time of the year!
I have analyzed the 2nd Quarter stats and here are my insights:
- We have entered a Seller's market for houses with 28.5% homes selling within a month. The attached market is at the tail end of a balanced market with 19.9% of the homes selling within the 1st month.
- Sales for houses are up 27% and for attached homes they are up 23%.
- Inventory is down -13% for houses and up 4% for attached homes.
- The detached housing market has 3.8 months of inventory while our attached market has 5.5Â months.
- The average price of a house is $1,264,000.
- The…
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