What you need to know about the Real Estate Market in Metro Vancouver
Posted by Tony Cikes on
November was another very busy month for real estate here in Vancouver. In fact, it was one of the strongest November months we have seen in the last five years! Here are some of the market insights:
- We are in a Seller's market for houses with 29% of the homes selling within a month and we are also in a Seller's Market for attached homes with 20% of the homes selling within a month.
- Sales are up 4.1% from a year ago!
- Inventory is down -8.5% from a year ago.
- The detached housing market has 3.9 months of inventory while our attached market has 5.6 months.
- The average price of a house is $1,321,214
- The average price of an attached home is $502,210.
If we compare from a year ago (November 2013):
Prices are up 11.1% for houses and…
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