Vancouver Estate Trends for October

Welcome to the October stats! Fall is raising questions for real estate in Vancouver. Current Vancouver MLS data indicates an average house price of $1,761,616. There have been 1,358 new listings for October.

Vancouver Real Estate Sales Data

As of today, Vancouver housing data shows median days on market for a home is 20 days. Zolo stats data is showing sales are up 10% with a big boost in detached home sales with 3+ bedrooms.

• 3+ bedroom detached homes are selling at a large ~+20% sales increase
• Condos are selling at an average ~+10% increase
• Townhomes are selling at an average ~+15% increase

Vancouver Real Estate Inventory

Ah, the common question. It's true - inventory is lower than usual, but that's no reason to panic:

• Detached homes inventory are down ~20%
• Townhomes inventory are also down an average ~20%
• Condo inventory are also down an average ~20% but sales are up an average ~18%

Summary

It seems the majority of detached home buyers are moving outside of Vancouver, perhaps picking up cheaper home prices. But, with the lower amount of inventory for detached homes, comes an increase in the sales price!

With Paul Eviston, top Vancouver realtor, we're always optimistic with Vancouver real estate!