The November graphs for Greater Vancouver real estate show the average price of Greater Vancouver homes, townhomes and condos are back to the top, having regained what they lost last year. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1989,1993 and 2008. Vancouver real estate didn’t appreciate much between 1994 and 2002 but they did between 2002 and 2008 and are now testing the highs of 2008.
Following are the stats for Vancouver West Side
Listings decreased from October and so did sales.
Listings – in November there were a total of 834 new listings vs 1155 in October, 1244 in Sept, 1069 in July and 1128 in June. In Nov 2008 there were 713 new listings. Total new listings for Jan-Oct 2009 were 11,076 Same period for 2008 were 13,288
Sales - in Nov there were a total of 688 west side sales vs 807 in Oct, 733 in Sept, 795 in Aug, 774 in July and 949 in June. In Nov 2008 there were 170. Year to date sales 7,511 . Same period last year 4,838
1 Year change in Benchmark Price - houses up 29.5% , townhomes are up 25.5% and condos are up 14.9%.
Benchmark Price over the last 5 years - condos are up 61.9%, townhomes are up 61.4% and houses are up 81.1%
November Median price – House $1,600,000, Townhouse $729,000, Condo $463,000
October Median Price - House $1,570,000, Townhouse $770,400, Condo $477,000
September Median Price – House $1,523,000, Townhouse $750,000, Condo $447,000
When you’re ready to buy or sell Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981.
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