June was a notably active month, marked by a flurry of activities. However, it is worth noting that our listing and sales volume still falls below the 10-year average. Over the past 12+ months, the dominant topic of discussion has revolved around interest rates, which are poised to witness another 0.25% increase on July 12th.
Despite the fluctuating interest rates, prospective buyers are displaying a strong willingness to proceed with their purchases. The demand for properties continues to surpass the available inventory, resulting in persistent multiple offer situations. This trend is likely to persist until we observe a significant increase in the supply of properties, which, unfortunately, does not appear imminent.
It is important to recognize that different areas, neighbourhoods, property types, and price points exhibit varying levels of performance. Therefore, it is crucial to equip oneself with accurate and reliable information. If you believe a conversation regarding your local market, the intricacies of the buying and selling process, or the valuation of your property would be beneficial, please do not hesitate to reach out.
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Attached Properties
Vancouver Downtown - Attached
- Sellers market at 22% sales ratio average (2.2 in 10 homes selling rate).
- Sale to List Price Ratio: homes are selling on average 1% below list price.
- Inventory: up by 1% over last month.
- Most Active Price Band: $500,000 to $600,000 with average 54% sales ratio (sellers market).
- Buyers Best Bet: homes between $2.5-$2.75 mil / $3-$4 mil, Coal Harbour and minimum 4 bedroom properties.
- Sellers Best Bet: selling homes in Westend and up to 1 bedroom properties.
- Sellers market at 38% sales ratio average (3.8 in 10 homes selling rate).
- Sale to List Price Ratio: homes are selling on average 1% above list price.
- Inventory: up by 3% over last month.
- Most Active Price Band: $800,000 to $900,000 with average 70% sales ratio (sellers market).
- Buyers Best Bet: homes between $2.5 mil to $2.75 mil, South Granville and minimum 4 bedroom properties.
- Sellers Best Bet: selling homes in Kitsilano, Point Grey and up to 1 bedroom properties.
- Sellers market at 44% sales ratio average (4.4 in 10 homes selling rate).
- Sales to List Price Ratio: homes are selling on average 100% of list price.
- Inventory: down by 1% over last month.
- Most Active Price Band: $500,000 to $600,000 with average 75% sales ratio (sellers market).
- Buyers Best Bet: home between $900,000 to $1 mil, Downtown, South Vancouver, and 3 bedroom properties.
- Sellers Best Bet: selling homes in Fraser, Hastings, Main, Victoria and minimum 4 bedroom properties.
- Sellers market at 60% sales ratio average (6 in 10 homes selling rate).
- Sales to List Price Ratio: homes are selling on average 1% above list price.
- Inventory: down by 2% over last month.
- Most Active Price Band: $500,000 to $600,000 with average >100% sales ratio (sellers market).
- Buyers Best Bet: home between $1.5 mil to $1.75 mil, Elgin Chantrell, White Rock and up to 1 bedroom properties.
- Sellers Best Bet: selling homes in Grandview, King George Corridor, 2 bedrooms and minimum 4 bedroom properties.
Detached Properties
Vancouver Westside - Detached
- Balanced market at 14% sales ratio average (1.4 in 10 homes selling rate).
- Sale to List Price Ratio: homes are selling on average 2% below list price.
- Inventory: up by 4% over last month.
- Most Active Price Band: $2.25 mil to $2.5 mil with average >100% sales ratio (sellers market).
- Buyers Best Bet: homes between $4 mil to $4.5 mil, Arbutus, Oakridge and minimum 7 bedroom properties.
- Sellers Best Bet: selling homes in Kitsilano, University and up to 2 bedroom properties.
- Sellers market at 22% sales ratio average (2.2 in 10 homes selling rate).
- Sales to List Price Ratio: homes are selling on average at 6% above list price.
- Inventory: up by 13% over last month.
- Most Active Price Band: $1.25 mil to $1.75 mil with average 51% sales ratio (sellers market).
- Buyers Best Bet: homes between $3 mil to $3.5 mil, Collingwood and minimum 7 bedroom properties.
- Sellers Best Bet: selling homes in Fraser, Grandview Woodland, Main, Renfrew and 3 to 4 bedroom properties.
North Vancouver - Detached
- Sellers market at 43% sales ratio average (4.3 in 10 homes selling rate).
- Sale to List Price Ratio: homes are selling on average 5% above list price.
- Inventory: up by 9% over last month.
- Most Active Price Band: $2 mil to $2.5 mil with average 81% sales ratio (sellers market).
- Buyers Best Bet: homes between $4 mil to $4.5 mil, Boulevard, Upper Lonsdale and minimum 7 bedroom properties.
- Sellers Best Bet: selling homes in Deep Cove, Edgemont and 3 to 4 bedroom properties.
West Vancouver - Detached
- Buyers market at 6% sales ratio average (6 in 100 homes selling rate.)
- Sale to List Price Ratio: homes are selling on average 6% below list price.
- Inventory: up by 9% over last month.
- Most Active Price Band: $5 mil to $5.5 mil with average 21% sales ratio (sellers market).
- Buyers Best Bet: homes between $5.5 mil to $6 mil in Ambleside, British Properties, Chartwell and 3 to 4/ minimum 7 bedroom properties.
- Sellers Best Bet: selling homes in Sentinel Hill and up to 2 bedroom properties.
South Surrey, White Rock - Detached
- Sellers market at 22% sales ratio average (2.2 in 10 homes selling rate.)
- Sale to List Price Ratio: homes are selling on average 100% of list price.
- Inventory: up by 4% over last month.
- Most Active Price Band: $1.25 mil to $1.5 mil with average 56% sales ratio (sellers market).
- Buyers Best Bet: homes between $3 mil to $3.5 mil Grandview, White Rock and up to 2 bedroom properties.
- Sellers Best Bet: selling homes in Crescent Beach, Ocean Park, Morgan Creek and 3 to 4 bedroom properties.
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