Don's Greater Vancouver Real Estate Market Report

Vancouver Real Estate board overall

 
Single family houses year to date sales totalled 11,550 with the average sale price of $1,174,587. This 21% increase in number of sales and a 19% increase in average price year to date over last year same time period. Townhouse year to date sales totalled 4393 with an average sale price of $565,662. This is a 5% increase in the number of sales and a 3% increase in average price year to date over the same time period last year. Condominiums year to date sales totalled 10,153 with the average sale price of $457,887. This 0% change in number of sales and a 5% increase in average price year to date over the same time period last year.
Total of all types year to date here has been 26,096 sales with an average sale price of $793,239. This is a 9% increase in number of sales and a 18% increase in average price over last year same time period.

Note - The volume of sales on the Real Estate Board of Greater Vancouver overall decreased about 5.6% August to September.

Local Maple Ridge

Single family houses year to date sales totalled 762 with the average sale price of $500,159. This almost identical in number of sales and in average price year to date over last year same time period. Townhouse year to date sales totalled 327 with an average sale price $312,314. This is a 20% increase in the number of sales and a .5% decrease in average price year to date over last year same time period . Condominiums year to date sales totalled 160 with the average sale price of $206,283. This 3% decrease in number of sales and a 7% decrease in price year to date over last year same time period .Total of all types year to date here has been 1249 sales with an average sale price of $413,333. This is a 4% increase in number of sales and a 1% decrease in average price over last year same time period .

Note - Our housing market has remained stable in regards to volume and prices for the last 12 -18 months. We had a decrease sales in of about 30% from August to September which is unusual. The fall market is usually the second busiest of the year with the spring being busiest. We have seen some increased activity in October and expect a substantial increase in the number of sales with prices remaining steady.

 
For more detail just call 604-466-4549 or emailpearceteam@telus.net .

Prime Rate remains at 3% with 3-5 year term variable rate mortgages available at 2.1% - A $300,000 mortgage at 2.5% for 30 years is $1175 month. Prime rate is stable with minimal increases in 1-5year term fixed mortgages. Five year fixed term is available below 3.5% with some places offering as low as $3.19% for a five year fixed. The United States has indicated their rates will likely not change in the next 2 years and our rates tend to mirror theirs.