Greater Vancouver Real Estate Market Statistics – May 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in May 2018.

Vancouver-West

In the Vancouver Westside, there were 91 sales of detached homes and 898 active listings at the end of the month. The benchmark sale price was $3,430,500, with average days on market of 39. The hottest markets for sales were Point Grey and Cambie with 10 sales each and and Dunbar with 12 sales.

In comparison, the condo market had 359 sales, 1,149 active listings and a benchmark sale price of $845,400 with an average of 16 days on market. The hottest market for sales was Downtown VW, 71 sales.

Townhome sales were 42, active listings were 215. The benchmark sale price was $1,304,500 with an average days on market of 26. Fairview VW with 10 sales was the hottest market of the month.

It’s a seller’s market for condos in Vancouver-West.

MarketHotSheet_May2018_VancouverWest

Vancouver-East

The Vancouver Eastside had 141 sales and 860 active listings for detached homes at the end of the month. The benchmark sales price was $1,543,600, and the average days on market were 56. The hottest sales market was Renfrew VE with 18 sales.

The condo market featured 175 sales, 312 active listing, and a benchmark sales price was $575,800. The average days on market were 14 days, and the hottest market for sales was Mount Pleasant VE with 60 sales each.

The townhome market, on the other hand, had 29 sales and 98 active listings. The benchmark sale price was $925,800 with 30 average days on market. Champlain Heights, Killarney VE, Mount Pleasant VE with 6 sales each had the most sales of the month.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_May2018_VancouverEast

North Shore

In May, the North Vancouver market had 90 sales and 460 active listings for detached homes. The benchmark sale price was $1,708,500 with an average days on market of 28. Lynn Valley with 16 sales each had the most sales activity.

There were 107 sales and 215 active listings for condos. The benchmark sale price was $603,600 with 14 average days on market. The neighbourhood of Lower Lonsdale with 31 sales was the hottest sales market.

Townhome sales were 36, active listings were 79, the benchmark sale price was $1,035,500, and the average days on market were 11. Hamilton with 6 sales, Central Lonsdale and Lynnmour with 5 sales each had the most sales activity.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_May2018_NorthVancouver

West Vancouver

The West Vancouver market had 39 sales and 615 active listings for detached homes. The benchmark sale price was $3,020,100 with 59 average days on market. Dundarave with 6 sales was the neighborhood with the most sales activity.

Condo sales were 21 and active listings were 77 at the end of the month. The benchmark sales price was $1,280,600 with an average days on market of 41. Ambleside had the most sales at 7.

In comparison, townhome market had no sales and 29 active listings.

It’s a buyer’s market for single family homes and townhomes.

MarketHotSheet_May2018_WestVancouver

Coquitlam

In the Coquitlam market, there were 74 sales and 489 active listings for detached homes at the end of the month. The benchmark sale price was $1,319,800, and the average days on market were 29. Central Coquitlam with 15 sales experienced the most sales activity.

The condo market had 90 sales and 234 active listings. The benchmark sale price was $550,900 with 18 average days on market. The hottest market for sales was North Coquitlam, 36 sales.

Townhome featured 34 sales and 67 active listings. The benchmark sales price was $705,100 with an average days on market of 13. Burke Mountain, with 12 sales, had the most sales activity.

It’s a buyer’s market for houses and townhomes.

MarketHotSheet_May2018_Coquitlam

Port Coquitlam

The Port Coquitlam had 37 sales and 167 active listings for detached homes. The benchmark sale price was $1,049,400 with an average days on market of 17. Glenwood PQ with 8 sales experienced the most sales activities of the month.

Condo featured 43 sales, 74 active listings, a $483,300 benchmark sales price, and 9 average days on market. Central Pt Coquitlam had the most sales activity at 32.

In comparison, townhome had 23 sales and 46 active listings. The benchmark sales price was $691,600 with an average days on market of 13. Glenwood PQ was the hottest markets with 4 sales.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_May2018_PortCoquitlam

Port Moody

There were 16 sales and 100 active listings for detached homes in the Port Moody market. The benchmark sale price was $1,529,200, and the average days on market were 29. College Park PM with 7 sales 7 had the most sales activities.

The condo market featured 27 sales, 49 active listings, $693,000 benchmark sale price, and 13 average days on market. Port Moody Centre, 21 sales, had most sales activity.

In comparison, townhome sales were 19, active listings were 29 and the benchmark sale price was $685,000. The average days on market were 10. Port Moody Centre with 6 sales each were the hottest market for sales.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_May2018_PortMoody

Maple Ridge

In the Maple Ridge market, there were 90 sales and 383 active listings for detached homes at the end of the month. The benchmark sale price was $875,800, and the average days on market were 29. East Central with 21 sales experienced the most sales activity.

The condo market had 58 sales and 90 active listings. The benchmark sale price was $325,500 with 14 average days on market. The hottest market for sales was East Central, 38 sales.

Townhome featured 35 sales and 115 active listings. The benchmark sales price was $580,500 with an average days on market of 26. Cottonwood MR with 13 sales had the most sales activity.

It’s a seller’s market for condos and townhomes.

MarketHotSheet_May2018_MapleRidge

The followings are the summaries of the surrounding areas:

Burnaby East

MarketHotSheet_May2018_BurnabyEast

Burnaby North

MarketHotSheet_May2018_BurnabyNorth

Burnaby South

MarketHotSheet_May2018_BurnabySouth

New Westminster

MarketHotSheet_May2018_NewWestminster

Richmond

MarketHotSheet_May2018_Richmond

Ladner

MarketHotSheet_May2018-Ladner

Tsawwassen

MarketHotSheet_May2018_Tsawwassen

Pitt Meadows

MarketHotSheet_May2018_PittMeadows

Bowen Island

MarketHotSheet_May2018_BowenIsland

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver

Macdonald Realty has offices across the Greater Vancouver.  Please email macrealty@macrealty.staging.irewebsites.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org