November 2019 Vancouver Real Estate Market Update

Average Home Prices Increase For Second Month In A Row

The average home price in Vancouver ticked upwards for a second month in a row, this follows price declines that began back in July 2018.

Home sales in the region totalled 2,498 in November 2019, a 55.3% increase from the 1,608 sales recorded in November 2018, and a 12.6% decline from the 2,858 homes sold in October 2019.

 Last month’s sales were 4% above the 10-year November sales average.

For all property types, the sales-to-active listings ratio for November 2019 is 23.2%. By property type, the ratio is 17.2% for detached homes, 24.9% for townhomes, and 29.3% for apartments.  Any amount above 20% is considered a 'Sellers Market'

Vancouver West

Focusing in on the Vancouver West area (from Downtown to Marpole, and everything West of Ontario St.) 

DETACHED HOMES

Sales of detached properties in November 2019 reached 66, an 8.2% increase from November 2018. The benchmark price for detached properties is $2,904,200. This represents a 9.3% decrease from November 2018.

TOWNHOMES

Sales of Townhomes in November 2019 reached 29, a 16.0% increase from November 2018. The benchmark price for Townhome is $1,133,900. This represents a 3.1% decrease from November 2018. 

CONDOS

Sales of Condos in November 2019 reached 305, a 47.3% increase from November 2018. The benchmark price for condo properties is $750,400. This represents a 4.0% decease from November 2018.