Real Estate Market Statistics, Vancouver Townhouse Blog
Vancouver Townhouses: Townhouse Selling Stats for September
Demand for Vancouver townhouses and condos is still on an upward trend. As a specialized townhouse realtor in Vancouver, Ariane Benjamin tracks the market so she can offer the best advice to people buying and selling townhouses.
Here is a synopsis of last month’s performance for Vancouver Eastside & Westside, Downtown and North Vancouver.
Eastside
For Eastside townhouses and condos, there was inventory of 201 with 131 sales. The average price was $625,000, up from $608,000 in August.
Inventory Sales Sales Ratio*
TOTAL 223 161 72%
EASTSIDE Townhouses and Condos:
- Sellers market at 72% Sales Ratio average (7.2 in 10 homes selling rate)
- Homes are selling on average 5% above list price
- Most Active Price Band** $600,000 to $700,000 with average >100% Sales Ratio (Sellers market)
- Buyers Best Bet** Homes between $1.25 m to $1.5 m, Victoria and minimum 4 bedroom properties
- Sellers Best Bet** Selling homes in Collingwood, Fraser, Grandview, Hastings and up to 1 bedroom properties
Vancouver Westside
For condos and townhouses in Vancouver Westside, there was inventory of 424 with 224 sales. The average price was $866,500, up from $798,000 in August.
Inventory Sales Sales Ratio*
TOTAL 424 224 53%
WESTSIDE Townhouses and Condos:
- Sellers market at 53% Sales Ratio average (5.3 in 10 homes selling rate)
- Homes are selling on average 2% above list price
- Most Active Price Band** $400,000 to $500,000 with average >100% Sales Ratio (sellers market)
- Buyers Best Bet** Homes between $1.75 m to $2 m Quilchena, South Cambie and minimum 3 bedroom
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 201 with 131 sales. The average price was $689,000, up from $665,000 in August.
Inventory Sales Sales Ratio*
TOTAL 207 131 63%
NORTH VANCOUVER Townhouses and Condos
- Sellers market at 63% Sales Ratio average (6.3 in 10 homes selling rate). Homes are selling on average at list price $689,000 which is up from $665,000 in August.
- Most Active Price Band** $400,000 to $600,000 with average >100% Sales Ratio (Sellers market)
- Buyers Best Bet** Homes between $700,000 to $800,000, Lynnmour and 3 bedroom properties
- Sellers Best Bet** Selling homes in Hamilton, Roche Point and up to 2 bedroom properties
“Townhouses and duplexes are a distinct kind of property,” explains Ariane. “Whether a client is buying or selling, it’s important to understand how these properties function.”
As a realtor with over 15 years of experience, Ariane leverages her expertise to assist clients with successful purchases and sales. To speak with Ariane about purchasing or selling your property please call her directly at (604) 779-1500.
*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