MARKET SNAPSHOT

While the market is still very active we are not seeing the same frenzy as we did over the last 12 – 18 months. For the most part we are in a Seller’s market due to the lack of inventory and high demand from Buyers. This is a major contributor to the competitive nature of the market. Covid has played a roll as well. People have been re-evaluating their homes and what they need from them.

However, lately buyers are not competing for just any property as that seemed to be the case in the past. They are being more selective on the properties they are willing to compete for. We know this because we’ve seen listings, some of ours included, that set up for offers on a particular day and don’t get any or perhaps just 1. Realtors are now, depending on the property, suggesting that their clients look at offers as they come, first come first served. And hope it’s early in the listing to still achieve a great price.

AREA SNAPSHOT

N o r t h  V a n c o u v e r –  D e t a c h e d

  • Sellers Market at 71% Sales Ratio average (7.1 in 10 homes selling rate).
  • North Vancouver has been the talk of the town!
  • Homes are selling on average 4% above list price and inventory is down by 24%.
  • Most Active Price Band is $1.5 mil to $2.5 mil with average >100% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Edgemont, Lynn Valley, Upper Lonsdale and 3 to 4 bedroom properties.
  • Buyers are having the least amount of competition in homes between $2.75 mil to $3 mil, Canyon Heights and up to 2 bedroom properties.

W e s t  V a n c o u v e r –  D e t a c h e d

  • West Vancouver has a balanced Market at 16% Sales Ratio average (1.6 in 10 homes selling rate.
  • Homes are selling on average 3% below list price and inventory is down by 8%.
  • Most Active Price Band $2 mil to $2.25 mil with average >100% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Cedardale and up to 2 bedroom properties.
  • Buyers are having the least amount of competition in Homes between $5.5 mil to $6 mil, Altamont, Bayridge, Dundarave and minimum 5 bedroom properties.

V a n c o u v e r  D o w n t o w n –  A t t a c h e d

  • Sellers Market at 23% Sales Ratio average (2.3 in 10 homes selling rate).
  • Homes are selling on average 1% below list price and inventory has stayed relatively the same as last month.
  • Most Active Price Band- $500,000 to $600,000 with average 51% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Downtown and up to 1 bedroom properties while buyers are having the least amount of competition in homes between $1.75 mil to $2 mil / $2.75 mil to $3 mil, Coal Harbour and minimum 3 bedroom properties.

V a n c o u v e r  W e s t s i d e –  D e t a c h e d
  • Balanced Market at 17% Sales Ratio average (1.7 in 10 homes selling rate).
  • Homes are selling on average 3% below list price and inventory is down by 8%.
  • Most Active Price Band -$1.75 mil to $2 mil with average >100% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Kitsilano and 3 to 4 bedroom properties.
  • Buyers are having the least amount of competition in homes between $6.5 mil to $7 mil, Mackenzie Heights, Southlands and up to 2 bedroom properties.

V a n c o u v e r  W e s t s i d e –  A t t a c h e d
  • Sellers Market at 35% Sales Ratio average (3.5 in 10 homes selling rate).
  • Homes are selling on average 3% above list price and inventory is down by 5%.
  • Most Active Price Band- $400,000 to $500,000 with average 88% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Fairview, Kitsilano and up to 1 bedroom properties.
  • Buyers are having the least amount of competition in homes between $1.5 mil to $1.75 mil, SW Marine and minimum 4 bedroom properties.

V a n c o u v e r  E a s t s i d e –  D e t a c h e d
  • Sellers Market at 34% Sales Ratio average (3.4 in 10 homes selling rate).
  • Homes are selling on average 2% above list price and inventory was down over 10% from last month leaving us in a strong sellers market.
  • Most Active Price Band- $1.5 mil to $1.75 mil with average 80% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Killarney, Main and 3 to 4 bedroom properties.
  • Buyers are having the least amount of competition in homes between $2.75 mil to $3 mil, Collingwood, Grandview Woodland, Hastings and up to 2 / minimum 7 bedrooms.

V a n c o u v e r  E a s t s i d e –  A t t a c h e d
  • Sellers Market at 49% Sales Ratio average (4.9 in 10 homes selling rate).
  • Homes are selling on average 1% below list price and inventory is down by 12%.
  • Most Active Price Band- $500,000 to $600,000 with average 78% Sales Ratio (Sellers market).
  • Sellers are having the best results selling homes in Champlain Heights, Killarney, Renfrew and up to 1 bedroom properties.
  • Buyers are having the least amount of competition in homes between $1.5 mil to $1.75 mil, South Vancouver and minimum 4 bedroom properties.

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