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November sales update


November was a busy month with 2,795 sales, a 17% above all Novembers of past ten years.

buyers are very active in the attached segment of the market, particularly on apartment and townhouse purchase.

On November 2017, REBGV MLS system recorded 4109 single family, apartments, and townhouses listings, which compare to November 2016 has 30.6% increase in the number of listings. (please see the full report for price increase for every city).

the sale to listing ration in November was 32%. The break for sale to listing ration was single family 15.9%, for townhomes 36.4% and 67% for apartments.

In November average days on market for Downtown apartments were 16 days.

In general, when sale-to-listing ration falls below 12% for a sustained period a downward pressure on home prices occurs.

The MLS Home Price index composite benchmark price for all residential properties in Metro Vancouver in November was 1,046,900, a 14%increase compared to November 2016, and 0.4% compared to October 2017.

sales number for the single family was 841 units, for apartment 1508 units and for townhomes 446 units.

 

November sales full report by Real Estate Board of Greater Vancouver