Real estate market update for the detached housing market in Vancouver BC in January 2018. All statistics have been taken from the Real Estate Board of Greater Vancouver.
MLS Home Price Index
MLS Home Price Index of detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: $1,564,000 | +8.6% (change since January 2017)
Vancouver West: $3,548,400 | +3.8% (change since January 2017)
Average Sales Price
Average sales price of detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: $1,664,333 | +19.1% (change since January 2017)
Vancouver West: $3,905,627 | +14.6% (change since January 2017)
Average Percent of Original Price
Average percent of original asking price for the detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: 96.1% | -0.3% (change since January 2017)
Vancouver West: 91.4% | -4.0% (change since January 2017)
Total Inventory
Total Inventory of the detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: 626 | -4.9% (change since January 2017)
Vancouver West: 674 | +8.9% (change since January 2017)
New Listings
All new listings of the detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: 176 | -18.1% (change since January 2017)
Vancouver West: 269 | -12.7% (change since January 2017)
Total Sales
All sales of the detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: 45 | -11.8% (change since January 2017)
Vancouver West: 46 | +24.3% (change since January 2017)
Sales to Actives Ratio
Sales to active listings ratio of the detached houses in Vancouver BC in January 2018 (see graph below)
Vancouver East: 0.072 | -7.7% (change since January 2017)
Vancouver West: 0.068 | +13.3% (change since January 2017)
In conclusion, detached housing market in Vancouver East and Vancouver West are seller markets. Prices remained without a change for the last few months. Historically January is a slow month in real estate and we this January was no exception. It will be interesting to see what effect (if any) new mortgage regulations have on the detached housing market.