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“I love this country. I love my idea of this country.” —  Ralph Waldo Emerson

 

Sales and listings stats are attached as of September 19, 2016. The real estate market has shown a state of change over the last 4 months. Overall in the Greater Vancouver market, September sales are down from August. Some areas and market segments around Greater Vancouver are showing differing levels of sales compared to August. But September typically slower to start as people come back from vacation and kids head back to school. Average prices in some areas are down while others are maintaining or slightly above August. West Vancouver has seen the largest decrease in average price, dropping to $785,928 so far for September compared to $2,139,647 in August. This doesn’t mean homes are selling for less, but that less homes are selling in the higher price ranges. In West Vancouver particularly, there hasn’t been a sale for a home over $2,000,000 – significantly bringing down the average price – a calculated value.

 

As much as everyone is looking to label the market, accurate labels come after the markets have happened. With stories of buyers making more inquiries into the Toronto or Seattle market, I would bet those inquiries were always there. Tell a buyer (Foreign) that there cost has immediately gone up 15 per cent, of course they will inquire where this tax doesn’t exist. Will they act on that inquiry and abandon the market they truly desire to be in? Probably not to the same degree as we are lead to believe. But it is too early to fully understand where the market is at. What is certain, is real estate markets don’t remain static.

 

Sales and Listings Report Houses Townhouses Condos Sept 18 2016

 

Sales and Listings Report All Residential Sept 18 2016

 

Here is a summary of the activity so far:

 

Greater Vancouver –1,126 Units Sold so far in September 2016 compared to 1,287 Units Sold at this time in August 2016. Total New Listings so far in September are 2,693 compared to 2,507 at this time in August 2016. Total Active Listings are at 9,716 (11,258 at the same time in September 2015), Sales To Listings Ratio is at 42% compared to 58% at this time in August 2016.

 

Vancouver West - 219 Units Sold so far in September 2016 compared to 230 Units Sold at this time in August 2016. Total New Listings so far in September are 517 compared to 457 at this time in August 2016. Total Active Listings are at 1,593 (2,017 at the same time in September 2015), Sales To Listings Ratio is at 42% compared to 57% at this time in August 2016.

 

Vancouver East – 80 Units Sold so far in September 2016 compared to 111 Units Sold at this time in August 2016. Total New Listings so far in September are 299 compared to 272 at this time in August 2016. Total Active Listings are at 959 (841 at the same time in September 2015), Sales To Listings Ratio is at 27% compared to 47% at this time in August 2016.

 

North Vancouver – 89 Units Sold so far in September 2016 compared to 84 Units Sold at this time in August 2016. Total New Listings so far in September are 274 compared to 156 at this time in August 2016. Total Active Listings are at 533 (650 at the same time in September 2015), Sales To Listings Ratio is at 32% compared to 59% at this time in August 2016.

 

West Vancouver – 14 Units Sold so far in September 2016 compared to 31 Units Sold at this time in August 2016. Total New Listings so far in September are 115 compared to 67 at this time in August 2016. Total Active Listings are at 493 (533 at the same time in September 2015), Sales To Listings Ratio is at 12% compared to 49% at this time in August 2016.

 

Richmond – 129 Units Sold so far in September 2016 compared to 161 Units Sold at this time in August 2016. Total New Listings so far in September are 299 compared to 344 at this time in August 2016. Total Active Listings are at 1,412 (1,689 at the same time in September 2015), Sales To Listings Ratio is at 43% compared to 55% at this time in August 2016.

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