VANCOUVER WEST SIDE MARKET UPDATE - JANUARY 2018
Sales were equal to Dec'17 and listings remain low. Average sale price increased for all categories. Demand for listings over $3M has dropped substantially since the introduction of the Foreign Buyers Tax in August 2016.
LISTINGS - Total West Side listings clocked in at 1,370 which is 16% lower than a year ago and down from 1,779 in November. The peak this year was in July with 1961 listings.
Houses - 674 listings and the lowest since Dec'16.. Up 9% from a year ago.
Townhomes - 109 listings which is 4% less than a year ago
Condos - 587, which is 35% less than a year ago. The peak this year was July with 991 listings. May'14 had 2,239 and listings have been on a decline since then.
SALES - Total sales were 309 which is up 15% from a year ago. Sales peaked in Mar'16 at 981.
Houses had only 46 sales, up 24% from a year ago. Best month of the year was May with 186. The peak was June 2015 with 236 sales. This is the lowest point for sales since Nov'08.
Townhomes - 18 sales, 5% less than a year ago. Sales peaked in May at 67. Apr'15 had 84 sales which is the best month over the last 4 years.
Condos - 245 sales, 15% more than a year ago. Sales this year peaked in May with 527. Mar'16 was the best month over the last 4 years with 683 sales.
AVERAGE SALE PRICE - overall sale price hit an all time high at $1.734.000 in October 2017 and In Apr'16 it hit $1.728.000.
Condos - $1.195,000 which is 41% higher than a year ago and a record high.
Jan'14 ASP was $631,000.
Houses - $3.9M, up 14% from a year ago. The peak was Oct'17 at $4.4M
Jan'14 ASP was $2.7M.
Townhomes - $1.7M, up 48% from a year ago and a record high.
Jan'14 ASP was $855,000.
Best Selling Price Range
townhomes $1.2M to $1.3M
Luxury Sales Over $3M in 2017
condos - 86
townhomes - 19
houses - 685
Luxury Sales Over $3M in 2018 YTD
condos - 10
townhomes - 2
houses - 32
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