Zolo.ca Latest Monthly Market Report Summary for Vancouver, BC

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).

Detached Houses:

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%.

Townhouses:

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.

Condos:

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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