Karen Tsao | 604-422-0855

Greater Vancouver Housing Market Update for Jan 2019

Greater Vancouver Housing Market Update for Jan 2019

Summary:  Home sales went down 39.3% from the same month a year ago and up 2.9% from Dec 2018.  Last month’s sales were 36.3% below the 10-year January sales average and were the lowest January-sales total since 2009.  Home listings continue to increase across all housing types and we see more traffic at open houses for well-priced homes compared to recent months.  However, home buyers are taking a wait-and-see approach.  We also see home prices have edged down across all housing types over the last 7 months. 
Housing Market Condition: Housing market condition and pricing can vary depending on area and property type so please consult 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: Buyer's market with a sales ratio of 10.2%.
  • Detached House: Buyer's market with a sales ratio of 6.8%.
  • Townhouse:  Buyer's market with a sales ratio of 11.9%.
  • Apartment:  Balanced market with a sales ratio of 13.6%
Residential Sales
  • Total 1,103 residential sales in Jan 2019.
  • 2.9% increase compared to Dec 2018. 
  • 39.3% decrease compared to Jan 2018.
New Listings
  • Total 4,848 residential new listings in Jan 2019.
  • 244.6% increase compared to Dec 2018.
  • 27.7% increase compared to Jan 2018.
Total Number of Listings
  • Total 10,808 residential listings on the MLS® in Jan 2019.
  • 5.2% increase compared to Dec 2018.
  • 55.6% increase compared to Jan 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 9.1% from Jan 2018 to $1,453,400.
  • Townhouse: Benchmark price decrease 0.5% from Jan 2018 to $800,600.
  • Apartment: Benchmark price decrease 1.7% from Jan 2018 to $658,600.
Average Days on Market
  • Detached House: Jan 2019, 64 days. Jan 2018, 54 days. Jan 2017, 57 days.
  • Townhouse:  Jan 2019, 52 days. Jan 2018, 30 days. Jan 2017, 43 days.
  • Apartment:  Jan 2019, 47 days. Jan 2018, 28 days. Jan 2017, 34 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.