Metro Vancouver Market update – October 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 3286 listings and home sales in the area totaled 1864 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 $1,025,000. This shows a 6.3% change over a yearly period and a 0.9% increase compared to the previous month.

Vancouver Market Stats – October 2020

In October there were 937 sales out of a total 1873 residential properties listed in Vancouver. The sales-to-active listings ratio is 60.9% for detached homes, 54% for townhomes, and 45.3% for condominiums bringing the average residential property to 50% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,185,250, a 0.8% increase from the previous month and a 7.5% 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 $1,030,200

The HPI Benchmark price of a condominium sits at $686,050; a -0.6% decrease compared to last month and a 3.8% increase from the same time last year.

North Vancouver Market Stats – October 2020

In October there were 332 sales out of a total 442 residential properties listed in North Vancouver. The sales-to-active listings ratio is 87.1% for detached homes, 92.5% for townhomes, and 62.3% for condominiums bringing the average residential property to 75.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,665,100, a 1.1% increase from the previous month and a 13.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 9.6% compared to the year before, reaching a benchmark price of $1,026,400

The HPI Benchmark price of a condominium sits at $588,900; a 0.5% increase compared to last month and a 6.3% increase from the same time last year.

West Vancouver Market Stats – October 2020

In October there were 97 sales out of a total 204 residential properties listed in West Vancouver. The sales-to-active listings ratio is 49.2% for detached homes, 0% for townhomes, and 37.9% for condominiums bringing the average residential property to 47.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $2,743,600, 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 0% compared to the year before, reaching a benchmark price of $0

The HPI Benchmark price of a condominium sits at $1,094,600; a 3.2% increase compared to last month and a 4.4% increase from the same time last year.

Richmond Market Stats – October 2020

In October there were 380 sales out of a total 619 residential properties listed in Richmond. The sales-to-active listings ratio is 59.4% for detached homes, 72% for townhomes, and 58% 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 $1,581,600, a 1.1% increase from the previous month and a 5.3% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.8% compared to the year before, reaching a benchmark price of $817,600

The HPI Benchmark price of a condominium sits at $656,600; a 0.2% increase compared to last month and a 5% increase from the same time last year.

Delta South Market Stats – October 2020

In October there were 118 sales out of a total 148 residential properties listed in Delta South. The sales-to-active listings ratio is 85.2% for detached homes, 64.3% for townhomes, and 78.1% for condominiums bringing the average residential property to 79.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,097,650, a 1.6% increase from the previous month and a 12.3% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 0.4% compared to the year before, reaching a benchmark price of $568,050

The HPI Benchmark price of a condominium sits at $534,750; a -2.8% decrease compared to last month and a 2.3% increase from the same time last year.

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