Greater Vancouver Market Update – October 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 2005 listings and home sales in the area totaled 1410 showing a Seller’s Market within the Greater Vancouver.

For all residential properties in Greater Vancouver the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $809,000. This shows a 6.5% change over a yearly period and a 0.8% increase compared to the previous month.

Burnaby Market Stats – October 2020

In October there were 394 sales out of a total 642 residential properties listed in Burnaby. The sales-to-active listings ratio is 59.8% for detached homes, 83.7% for townhomes, and 56.3% for condominiums bringing the average residential property to 61.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,449,300, a -0.1% decrease from the previous month and a 9.1% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5% compared to the year before, reaching a benchmark price of $753,033

The HPI Benchmark price of a condominium sits at $667,000; a -0.2% decrease compared to last month and a 2.8% increase from the same time last year.

New Westminster Market Stats – October 2020

In October there were 168 sales out of a total 268 residential properties listed in New Westminster. The sales-to-active listings ratio is 72% for detached homes, 56.8% for townhomes, and 61.3% for condominiums bringing the average residential property to 62.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,127,200, a 1.1% increase from the previous month and a 10.8% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.4% compared to the year before, reaching a benchmark price of $756,500

The HPI Benchmark price of a condominium sits at $531,600; a 0.1% increase compared to last month and a 4.6% increase from the same time last year.

Coquitlam Market Stats – October 2020

In October there were 341 sales out of a total 452 residential properties listed in Coquitlam. The sales-to-active listings ratio is 92.1% for detached homes, 93.3% for townhomes, and 57.8% for condominiums bringing the average residential property to 75.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,262,100, a 1.7% increase from the previous month and a 9.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 3.7% compared to the year before, reaching a benchmark price of $699,800

The HPI Benchmark price of a condominium sits at $534,500; a 0.5% increase compared to last month and a 3.4% increase from the same time last year.

Port Coquitlam Market Stats – October 2020

In October there were 117 sales out of a total 176 residential properties listed in Port Coquitlam. The sales-to-active listings ratio is 90% for detached homes, 92.1% for townhomes, and 46.9% for condominiums bringing the average residential property to 66.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,034,400, a 1.1% increase from the previous month and a 13.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.5% compared to the year before, reaching a benchmark price of $662,500

The HPI Benchmark price of a condominium sits at $466,400; a -0.8% decrease compared to last month and a 6.6% increase from the same time last year.

Port Moody Market Stats – October 2020

In October there were 87 sales out of a total 127 residential properties listed in Port Moody. The sales-to-active listings ratio is 69.4% for detached homes, 83.9% for townhomes, and 60% for condominiums bringing the average residential property to 68.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,515,600, a 2.1% increase from the previous month and a 8.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.6% compared to the year before, reaching a benchmark price of $648900

The HPI Benchmark price of a condominium sits at $648,100; a 1.1% increase compared to last month and a 2.8% increase from the same time last year.

Maple Ridge Market Stats – October 2020

In October there were 303 sales out of a total 340 residential properties listed in Maple Ridge. The sales-to-active listings ratio is 98.3% for detached homes, 87.4% for townhomes, and 71.3% for condominiums bringing the average residential property to 89.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $884,200, a 1.9% increase from the previous month and a 10% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.6% compared to the year before, reaching a benchmark price of $554,000

The HPI Benchmark price of a condominium sits at $369,000; a 3.1% increase compared to last month and a 5.3% increase from the same time last year.

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