The reports contained in Canadian Mortage and Housing Corporation's third-quarter record some major developments. These reports won't cause disbelief to anyone following the Vancouver real estate collapse. During which sales and prices started running down in early to mid-2018 after numerous years of exceptional gains that had Vancouver among the profitable markets in the world.
Higher availability of homes can is clear. Buyers have more options. It was not difficult to predict what actions policy-makers may take or inverse as the Vancouver market goes from being at a boom to more balance. Currently, houses sold are of an average of $1.1M.
In Hamilton, high ratings for all four aspects were preserved as being at high units, even though overheating, price increase and overvaluation have relieved since the first quarter of 2019. There has been a monthly change of 7.4%, a quarterly change of 9.2% and a yearly change of 9.6%.
For detached, the highest difference has been for four beds, while today it costs $1.9M with a fall of 20%, the same four beds cost $2.4M a year ago. However, the lowest change has been for two beds, with the current price of $1.5M with an increase of 5% in the prices. However, it cost $1.4M a year ago.
A Comparison Between the Past and Present Real Estate Trends
As per the Vancouver housing history, 980 new houses have been listed in the last 28 days, 591 are homes sold in the previous 28 days while the ratio for selling to listing is 95% The highest fall in the listing is for three beds detached, which is 22 new listings only within the last 28 days which is a reduction of 58%. However, the least reduction for detached is 59 new listings, with a change of 0%.
For townhouses in Vancouver, the highest increase in the listing is for 2 Beds at 46 new listings, at a rise of 28%, while the most significant fall is in listings of 3 Bed townhouse at 64 with a fall of 10%.
Overall, the Vancouver real estate market ranks 3rd, with an average price of $1.1M and a median price of $813K.