Karen Tsao | 604-422-0855

Greater Vancouver Housing Market Update for September 2019

Greater Vancouver Housing Market Update for September 2019

Summary:  Metro Vancouver home sales increased 46.3% from the same month last year.  Last month’s sales were 1.7% below the 10-year September sales average.  We are seeing more balanced market conditions since May this year, particularly in the townhouse and apartment markets.  Detached house market is still lacking behind.  Home sale and listing activity were both at typical levels for our region in September.

Housing Market Condition: Housing market condition and pricing can vary depending on area and property type so please consult with me for your area of interest. Generally analysts say that a buyer’s market condition occurs when the sales ratio is 12% or less.  Balanced market occurs when the ratio is between 13% and 20%. Seller’s market occurs when the ratio is 21% or more.  
  • All Properties: Balanced market with a sales ratio of 17.4%.
  • Detached House: Buyer's market with a sales ratio of 12.7%.
  • Townhouse:  Balanced market with a sales ratio of 18.9%.
  • Apartment:  Balanced/Seller's market with a sales ratio of 21.9%
Residential Sales
  • Total 2,333 residential sales in Sept 2019.
  • 4.6% increase compared to Aug 2019. 
  • 46.3% increase compared to Sept 2018.
New Listings
  • Total 4,866 residential new listings in Sept 2019.
  • 29.9% increase compared to Aug 2019.
  • 7.8% decrease compared to Sept 2018.
Total Number of Listings
  • Total 13,439 residential listings on the MLS® in Sept 2019.
  • 0.3% increase compared to Aug 2019.
  • 2.7% increase compared to Sept 2018.
Home Benchmark Price:  Home benchmark price represents estimated sale price of a benchmark property.  Benchmark property represents a typical property within each market. 
  • Detached House: Benchmark price decrease 8.6% from Sept 2018 to $1,406,200.
  • Townhouse: Benchmark price decrease 7.2% from Sept 2018 to $767,500.
  • Apartment: Benchmark price decrease 6.5% from Sept 2018 to $651,500.
Average Days on Market
  • Detached House: Sept 2019, 58 days. Sept 2018, 53 days. Sept 2017, 42 days.
  • Townhouse:  Sept 2019, 45 days. Sept 2018, 33 days. Sept 2017, 24 days.
  • Apartment:  Sept 2019, 43 days. Sept 2018, 31 days. Sept 2017, 22 days.
Download the complete stats package here.
Karen Tsao
Cell:604-422-0855
Office:604-602-1111
RE/MAX Crest Realty
1428 West 7th Avenue
Vancouver, BC
V6H 1C1 CA
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.