Vancouver Townhouse Blog

Market Trends for Vancouver Townhouses (and Condos!) Last Month

Vancouver townhouse

Did you know 30% of all homes listed in Vancouver sold last month? According to Vancouver townhouses relator Ariane Benjamin, total active listings (properties for sale) continue to trend at 10 year lows.

“Not many people are listing townhouses and condos,” says Ariane. “And that’s limiting sales and pushing prices higher. As a realtor who focusses on buying and selling townhouses, the trends are particularly interesting. It’s a great time for selling a townhouse. To help you understand why, we’ve put together a snapshot of what’s been happening around Metro Vancouver, including the Eastside and Westside, Downtown, and North Vancouver.”

Vancouver Eastside

For Eastside townhouses and condos, there was inventory of 278 homes with 181 sold. The average price was $628,000, up from $625,000 in September.

 

Inventory                   Sales               Sales Ratio*

 

TOTAL                       278                             181                 65%

 

EASTSIDE Townhouses and Condos:

  • Sellers market at 65% Sales Ratio average (6.5 in 10 homes selling rate)
  • Homes are selling on average 2% above list price
  • Most Active Price Band** $300,000 to $400,000 with average >100% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 m to $1.5 m, on Fraser, Knight, Victoria and minimum 3 bedroom properties
  • Sellers Best Bet** Selling homes in Hastings and Mount Pleasant up to 1 bedroom properties

 
Vancouver Westside

For condos and townhouses in Vancouver Westside, there was inventory of 446 with 225 sold. The average price was $875,000, up from $866,500 in September.

 

Inventory                   Sales               Sales Ratio*

 

TOTAL                       446                             225                 50%

 

WESTSIDE Townhouses and Condos:

  • Sellers market at 50% Sales Ratio average (5 in 10 homes selling rate)
  • Homes are selling on average 1% above list price
  • Most Active Price Band** $800,000 to $900,000 with average >100% Sales Ratio (sellers market)
  • Buyers Best Bet** Homes between $1.5 m to $1.75 m Point Grey, South Granville, and minimum 3 bedroom properties
  • Sellers Best Bet** Selling homes in Falsecreek, Kitsilano, Mount Pleasant, Quilchena and up to 1 bedroom properties 

 
Downtown Vancouver

For condos and townhouses in downtown Vancouver, last month saw an inventory of 414 properties downtown with 238 sold. The average sale price was $786,500, which was down from $811,250 in August.

Totals for Condos and Townhouses Downtown Vancouver

 

Inventory                   Sales               Sales Ratio*

 

TOTAL                       414                             238                 57%

 

DOWNTOWN Townhouses and Condos:

  • Sellers market at 57% Sales Ratio average (5.7 in 10 homes selling rate)
  • Homes are selling on average 2% above list price
  • Most Active Price Band** +/-$1 mil: $400k to $700k (>100% Sales Ratio) /$1.25 m to $1.5 m (52% Sales Ratio)
  • Buyers Best Bet** +/-$1 m: Homes between $800k to $900k /$2.75 to $3 m land Coal Harbour
  • Sellers Best Bet** Selling homes in Downtown Westend and up to 1 bedroom properties

 
North Vancouver

For condos and townhouses in North Vancouver, there was inventory of 212 with 162 sales. The average price was $745,500, up from $689,000 in August.

Inventory                   Sales               Sales Ratio*

 

TOTAL                       212                             162                 76%

 

NORTH VANCOUVER Townhouses and Condos

  • Sellers market at 76% Sales Ratio average (7.6 in 10 homes selling rate). Homes are selling on average at list price $745,500 which is up from $689,000 in August.
  • Most Active Price Band** $500,000 to $600,000 with average >100% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $300,000 to $400,000, Lynnmour, Northlands, Upper Lonsdale and 3 bedroom properties
  • Sellers Best Bet** Selling homes in Hamilton, Lynn Valley, Pemberton, Roche Pointand, and up to 2 bedroom properties

“As a townhouse realtor, I provide the one-on-one support for people who need some help getting their townhouse ready for market. Through vancouvertownhouse.ca, I offer an all-inclusive seller’s program that includes, staging, photographs, and comprehensive marketing campaign that includes a social media component. We’ve had wonderful results. In fact our last two listings sold well over asking in about two weeks.

Set up a complimentary consultation to discuss buying or selling a townhouse with Ariane. Call her directly at (604) 779-1500 or info@vancouvertownhouse.ca

 

*Sales Ratio defines market speed (higher is faster) and market type: Buyers up to 14% | Balanced 15 to 20% | Sellers 21% plus. If 100% M LS® data reported previous month’s sales exceeded current inventory.

**with minimum inventory of 10 in most instances

*Sales Ratio defines market speed (higher is faster) and market type: Buyers up to 14% | Balanced 15 to 20% | Sellers 21% plus. If 100% M LS® data reported previous month’s sales exceeded current inventory.

**with minimum inventory of 10 in most instances

Vancouver Townhouse Blog |
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