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Home sale and listing activity remained at near record levels for the month of October, with “home” becoming a focus for Vancouver residents during the pandemic. With more time spent at home this year and in the foreseeable future, many people are reevaluating their housing situation.
The Real Estate Board of Greater Vancouver (REBGV) reported a 29% increase in home sales from October of 2019, with 3687 sales in the region. This is also a 1.2% increase from the 3643 homes sold in September 2020, which was yet another record breaking month.
October’s sales were 34.7% above the 10-year sales average, and currently stands as the second highest total on record for the month.
For all property types the sales-to-active listings ratio for October 2020 is 29.7%. By property type, the ratio is 30.9% for detached homes, 43.5% for townhomes and 24.9% for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
Keep in mind these statistics are for all of Metro Vancouver. Markets and housing types perform differently relative to area and also price segment for example. To see how your particular “neighbourhood” is performing in your area of town, go to the neighbourhood profiles on this site and find yours. Or just us a call us, we will help you navigate.
Have an awesome rest of autumn!
Featured Listings
Four Hearts Ranch,
South Cariboo
$23,800,000
1143 Highway 3,
Okanagan
$8,700,000
Seven Stones Winery – 1143 Hwy 3,
Okanagan
$8,700,000
4572 West 3rd Avenue,
Vancouver West
$6,998,000
1001-1633 Ontario Street,
Vancouver West
$6,800,000
Butedale Bay,
Princess Royal Island
$6,200,000
The River House Estate,
Telkwa
$4,998,000
8596 Squilax-Anglemont Road,
North Shuswap
$3,280,000
301 – 2102 West 48th Avenue,
Vancouver West
$3,280,000
2791 Alamein Avenue,
Vancouver West
$2,998,000
2787 Alamein Avenue,
Vancouver West
$2,688,800
5880 Clarendon Street,
Vancouver East
$2,338,000
2789 Alamein Avenue,
Vancouver West
$2,199,000
9380 Francis Road,
Richmond
$1,799,000
5254 Sherbrooke Street,
Vancouver East
$1,699,000
2006 West 14th Avenue,
Vancouver West
$1,688,000
58-10199 River Drive,
Richmond
$1,074,000
1803-889 Homer Street,
Vancouver West
$998,000
188 Longview Place,
Okanagan
$970,000
405-2755 Maple Street,
Vancouver West
$825,000
2-5152 Canada Way,
Burnaby South
$821,800
1348 Ladner Road,
Okanagan
$775,000
125-6033 Katsura Street,
Richmond
$729,000
1001-7555 Alderbridge Way,
Richmond
$649,000
Cottage Siavonga,
Africa
$499,900 USD
503 – 5003 Oleander Drive,
Okanagan
$459,000
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Head Office: 1838 West 1st Avenue Vancouver, B.C V6J 1G5 Fax: 604-224-5279 Email: info@faithwilsongroup.com