Let's get started to see the changes that occurred during November.
As per the statistics of housing prices, the average costs of houses sold from October 25 – 22 November were $1.2M. It must be noticed that the average housing prices from September 27 to October 25 were also the same. There was a monthly change of 0.4% (Increase), quarterly change of 2% (Increase), and yearly change of 2.6% (Fall).
As per Zolo.ca, the prices of detached houses fell by 10% from October 25 to November 22, making it $2.1M. The costs for detached dwellings in July-August were $2.2M, while the prices six months ago were also 2 $2.2M. One must notice that the rates a year ago were much higher at $2.3M, meaning that the prices have fallen, starting from $2.3M a year ago to $2.1 currently.
Even though this trend might show the prices have significantly fallen over time, it can be an option for long-term investors to have a good share of profit.
As per the Vancouver housing inventory, there has been a total of 259 new listings, amounting to a fall of 9% listings while the sales to the list are currently 96.075, with an increase of 3%.
According to the Zolo.ca statistics, there has been a fall in the prices of townhouses by 13%. The current rates are $1.0M. However, it was recorded three months ago that the prices were 41.3M.
There has been an increase in the new listings for townhouses by 15%. Making it 140, while the sale to list has increased by 1%, making it 96.53%.
This time may be suitable for investors to make the most out of the long-term benefits of the townhouses.
As per Zolo.ca, there has been a fall of 1% in the prices for condos, making the prices fall to $851K, while the costs a year ago amounted to $859K.
Referring to the Vancouver housing inventory, there has been a fall of 14% in the house listing, making it 572 from October 25 to November 22. The sales to list also faced a low at 95.64%, with a fall of 1%.
The market has kept fluctuating in Vancouver for the entire month. Even though it may be a good time for long-term investments as the process might rise later, but for now, there aren't many chances of an increase in the value of the property.
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