November 2019 Vancouver Real Estate Market Update
Average Home Prices Increase For Second Month In A Row
The average home price in Vancouver ticked upwards for a second month in a row, this follows price declines that began back in July 2018.
Home sales in the region totalled 2,498 in November 2019, a 55.3% increase from the 1,608 sales recorded in November 2018, and a 12.6% decline from the 2,858 homes sold in October 2019.
Last month’s sales were 4% above the 10-year November sales average.
For all property types, the sales-to-active listings ratio for November 2019 is 23.2%. By property type, the ratio is 17.2% for detached homes, 24.9% for townhomes, and 29.3% for apartments. Any amount above 20% is considered a 'Sellers Market'
Focusing in on the Vancouver West area (from Downtown to Marpole, and everything West of Ontario St.)
Sales of detached properties in November 2019 reached 66, an 8.2% increase from November 2018. The benchmark price for detached properties is $2,904,200. This represents a 9.3% decrease from November 2018.
Sales of Townhomes in November 2019 reached 29, a 16.0% increase from November 2018. The benchmark price for Townhome is $1,133,900. This represents a 3.1% decrease from November 2018.
Sales of Condos in November 2019 reached 305, a 47.3% increase from November 2018. The benchmark price for condo properties is $750,400. This represents a 4.0% decease from November 2018.