What Happened with the Vancouver Real Estate Market in September?

Housing market is expected to remain active for Q4 of 2020 due to pent-up demand and low inventory levels, and historically low interest rates.

Median sales prices were higher across the board. Total of 5,759 sales – the highest number since June 2017! That’s also 59% more sales vs Sep 2019 while inventory for detached is down about 23% and down 15% for townhouses but up for condos at 13%.

I am highlighting a few neighbourhoods as well as the overall markets here, but feel free to send a message in regards to any other specific neighbouroods.

Westside Detached September 2020 Numbers:

WESTSIDE DETACHED
Active Listings 606
Sold Listings 104
Average Sales Price $3,244,000
New Listings 207
Days On Market 17

East Vancouver September 2020 Detached Numbers:

EAST VAN DETACHED
Active Listings 545
Sold Listings 171
Average Sales Price $1,552,000 (+10.9%)
New Listings 294
Days On Market 10

North Vancouver September 2020 Detached Numbers:

NORTH VAN DETACHED
Active Listings 296
Sold Listings 133
Average Sales Price $1,750,000 (+9.5%)
New Listings 201
Days On Market 8

Westside Vancouver Condos, Townhomes, 1/2 Duplex Market September 2020

WESTSIDEOVERALL1 BEDS2 BEDSTOWNHOMESDUPLEX
Active Listings2,18574196612414
Sold Listings427197153422
Average Sales Price$788,500$628,000$985,000$1,075,000$1,486,666
Price Per Foot$1,039$1,044$1,036$916$822
Days On Market13111873

East Vancouver Condos, Townhomes, 1/2 Duplex Market September 2020

EAST VANOVERALL1 BEDS2 BEDSTOWNHOMESDUPLEX
Active Listings719255295113105
Sold Listings23499893711
Average Sales Price$656,000$512,000$720,000$940,000$1,323,000
Price Per Foot$870$887$861$794$976
Days On Market141414124

North Vancouver Condos, Townhomes, 1/2 Duplex Market September 2020

EAST VANOVERALL1 BEDS2 BEDSTOWNHOMESDUPLEX
Active Listings59114028312414
Sold Listings1825180422
Average Sales Price$727,500$528,000$747,500$1,040,000$1,486,666
Price Per Foot$764$814$776$662$822
Days On Market131214123

Westside: Kitsilano Market September 2020

KITSILANOOVERALL1 BEDS2 BEDSTOWNHOMESDUPLEX
Active Listings11329402215
Sold Listings662422127
Average Sales Price$1,025,000$640,000$975,000$1,355,000$2,010,000
Price Per Foot$1,021$960$960$1,050$1,262
Days On Market1723181114
Median Price for Houses in Greater Vancouver for 2020 is $1,507,500 | +7.8% vs 2019 |+ 87.4% since 2010!
Median Price for Condos in Greater Vancouver for 2020 is $683,500 | +4.5% since 2019 | +82% since 2010!