Metro Vancouver Market update – November 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 2389 listings and home sales in the area totaled 1618 showing a Seller’s Market within the Metro Vancouver.

For all residential properties in Metro Vancouver the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $1,104,600. This shows a 6.3% change over a yearly period and a 0.3% increase compared to the previous month.

Vancouver Market Stats – Novermber 2020

In November there were 834 sales out of a total 1277 residential properties listed in Vancouver. The sales-to-active listings ratio is 76.1% for detached homes, 64% for townhomes, and 61.4% for condominiums bringing the average residential property to 65.3% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $2,327,850, a 0.9% increase from the previous month and a 8.3% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4% compared to the year before, reaching a benchmark price of $1,025,900

The HPI Benchmark price of a condominium sits at $675,100; a -1.4% decrease compared to last month and a 4.3% increase from the same time last year.

North Vancouver Market Stats – Novermber 2020

In November there were 261 sales out of a total 333 residential properties listed in North Vancouver. The sales-to-active listings ratio is 91.3% for detached homes, 59.1% for townhomes, and 78% for condominiums bringing the average residential property to 78.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,671,500, a 0.4% increase from the previous month and a 11.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 10.1% compared to the year before, reaching a benchmark price of $1,031,400

The HPI Benchmark price of a condominium sits at $585,300; a -0.6% decrease compared to last month and a 7.3% increase from the same time last year.

West Vancouver Market Stats – Novermber 2020

In November there were 88 sales out of a total 109 residential properties listed in West Vancouver. The sales-to-active listings ratio is 84.9% for detached homes, 0% for townhomes, and 83.3% for condominiums bringing the average residential property to 80.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $2,741,500, a -0.1% decrease from the previous month and a 7.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 0% compared to the year before, reaching a benchmark price of $0

The HPI Benchmark price of a condominium sits at $1,092,100; a -0.2% decrease compared to last month and a -0.1% decrease from the same time last year.

Richmond Market Stats – Novermber 2020

In November there were 333 sales out of a total 519 residential properties listed in Richmond. The sales-to-active listings ratio is 67.2% for detached homes, 80.7% for townhomes, and 56.3% for condominiums bringing the average residential property to 64.2% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,580,100, a -0.1% decrease from the previous month and a 6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 7.8% compared to the year before, reaching a benchmark price of $821,500

The HPI Benchmark price of a condominium sits at $651,900; a -0.7% decrease compared to last month and a 3.9% increase from the same time last year.

Delta South Market Stats – Novermber 2020

In November there were 102 sales out of a total 151 residential properties listed in Delta South. The sales-to-active listings ratio is 65.9% for detached homes, 87.1% for townhomes, and 53.1% for condominiums bringing the average residential property to 67.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,114,600, a 1.6% increase from the previous month and a 13.8% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 1.8% compared to the year before, reaching a benchmark price of $629,350

The HPI Benchmark price of a condominium sits at $525,100; a -1.9% decrease compared to last month and a 1.9% increase from the same time last year.

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