Vancouver February Market Trends Summary

The latest Vancouver MLS figures suggests a median house price in the last 28 days of $1,121,486 and 957 new listings. As of now, data on houses in Vancouver indicates median days for a home to be 21 days on the market.

While it may seem like that the Vancouver real estate market is jumping back, it won't be wrong to assume that it will be an excellent season for a Vancouver realtor.

Read below to find the statistics for each type of property in Vancouver:

Vancouver Housing Prices

Vancouver housing prices have experienced a 5.5%  Monthly change, 5.4% Quarterly change, and a 3.2% Yearly change with an average sales of houses of $1.1M in February 2020.

1. Detached:

For detached houses with two bedrooms, there have been 9 new listings that are a 13% rise. Moreover, the sold listing encountered an even more significant increase of 75% with 7 new sold listings. The active listings currently are 27 with a fall of 21%; however, for three bedrooms detached houses, there has been a fall of 405 with only 29 new listings. The sold listing remained constant with no difference and 12 newly sold listings. The active listings yet again suffered a decline of 46% with 82 active listings. They stayed 15 days on the market with a sales to list ratio of 99.17%.

2. Townhouses:

For one bed townhouses, there has been a 100% rise with 6 new listings. The sold listings were 1 facing a decline of 50% while the active listing rose to 18 with a rise of 157%. Overall, there was a 27% fall in all listing, with total new listings being 133. However, the sold listings rose to 45% with five new sold listings. The active listings fell by 12% while the active listings were 352. On average, all the houses remained on the market for 17 days, and the sales to list ratio was 99.31%.

3. Condos:

The one-bed condos had a new listing of 262 with a fall of 2% while the sold listing rose by 1% with 145 new sold condos. The active listings were 406 with a fall of 32%; on average, all one-bed condos remained on the market for 19 days. The sale to list ratio was 100.2%.

Overall, there were 641 new listings (-20%), 266 sold listings (+1%) and 1323 active listings (-16%). On average, all condos remained on the market for 21 days, while the sales to list ratio was 98.6%.

In February 2020, Vancouver ranks on the second position with Vancouver $1.1M average price and $844K median price. It seems to be a great time for potential home owners.

Need help or have questions? Ask Paul Eviston, who has been a Vancouver top realtor for over 25 years.