- TWO GENERATIONS OF EXPERIENCE

Increased demand helps housing market reach balanced territory

VANCOUVER, BC – October 2, 2019 –

Home buyer demand has returned to more historically typical levels in Metro Vancouver* over the last three months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August 2019. Last month’s sales were 1.7 per cent below the 10-year September sales average.

“We’re seeing more balanced housing market conditions over the last three months compared to what we saw at this time last year,” Ashley Smith, REBGV president said. “Home buyers are more willing to make offers today, particularly in the townhome and apartment markets.”

There were 4,866 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2019. This represents a 7.8 per cent decrease compared to the 5,279 homes listed in September 2018 and a 29.9 per cent increase compared to August 2019 when 3,747 homes were listed. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,439, a 2.7 per cent increase compared to September 2018 (13,084) and a 0.3 per cent increase compared to August 2019 (13,396). For all property types, the sales-to-active listings ratio for September 2019 is 17.4 per cent. By property type, the ratio is 12.7 per cent for detached homes, 18.9 per cent for townhomes, and 21.9 per cent for apartments. Generally, analysts say that 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 per cent over several months.

“This is a more comfortable market for people on both sides of a real estate transaction,” said Smith. “Home sale and listing activity were both at typical levels for our region in September.”

The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $990,600. This represents a 7.3 per cent decrease over September 2018 and a 0.3 per cent decrease compared to August 2019. Sales of detached homes in September 2019 reached 745, a 46.7 per cent increase from the 508 detached sales recorded in September 2018. The benchmark price for a detached home is $1,406,200. This represents an 8.6 per cent decrease from September 2018 and is virtually unchanged compared to August 2019. Sales of apartment homes reached 1,166 in September 2019, a 43.6 per cent increase compared to the 812 sales in September 2018. The benchmark price of an apartment property is $651,500. This represents a 6.5 per cent decrease from September 2018 and a 0.4 per cent decrease compared to August 2019. Attached home sales in September 2019 totalled 422, a 53.5 per cent increase compared to the 275 sales in September 2018. The benchmark price of an attached home is $767,500. This represents a 7.2 per cent decrease from September 2018 and a 0.6 per cent decrease compared to August 2019.

*Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

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The real estate industry is a key economic driver in British Columbia. In 2018, 24,619 homes changed ownership in the Board’s area, generating $1.7 billion in economic spin-off activity and an estimated 11,720 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $26 billion in 2018. The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org

Here are some schools that may be of interest in the following area(s):

North Vancouver :	53 schools
West Vancouver :	20 schools

Schools - Kindergarten to Grade 8

Argyle Secondary
1131 Frederick Rd
North Vancouver

Balmoral Jr Secondary
3365 Mahon Ave
North Vancouver

Blueridge Elementary
2650 Bronte Dr
North Vancouver

Bodwell Academy
955 Harbourside Dr
North Vancouver

Bodwell High School
955 Harbourside Dr
North Vancouver

Boundary Community Elementary
750 26th St E
North Vancouver

Braemar Elementary
3600 Mahon Ave
North Vancouver

Brockton Preparatory School
3467 Duval Rd
North Vancouver

Brooksbank Elementary School
980 13th St E
North Vancouver

Canyon Heights Elementary
4501 Highland Blvd
North Vancouver

Capilano Elementary
1230 20th St W
North Vancouver

Carisbrooke Elementary
510 Carisbrooke Rd E
North Vancouver

Carson Graham Secondary
2145 Jones Ave
North Vancouver

Caulfeild Elementary
4685 Keith Rd
West Vancouver

Cedardale Primary
595 Burley Drive
West Vancouver

Chartwell Elementary
1300 Chartwell Dr
West Vancouver

Cleveland Elementary
1255 Eldon Rd
North Vancouver

Collingwood School
70 Morven Dr
West Vancouver

Continuing Ed SD 44
2132 Hamilton Ave
North Vancouver

Cove Cliff Elementary
1818 Banbury Rd
North Vancouver

Cypress Park Primary
4355 Marine Dr
West Vancouver

Dorothy Lynas Elementary
4000 Inlet Cres
North Vancouver

Eagle Harbour Primary
5575 Marine Dr
West Vancouver

Eastview Elementary
1801 Mountain Hwy
North Vancouver

Ecole Andre Piolat
380 Kings Rd W
North Vancouver

Ecole Pauline Johnson Elementary
1150 22nd St
West Vancouver

Fromme Elementary
3657 Fromme Rd
North Vancouver

Gleneagles Elementary
6350 Marine Dr
West Vancouver

Handsworth Secondary School
1044 Edgewood Rd
North Vancouver

Highlands Elementary
3150 Colwood Dr
North Vancouver

Hollyburn Elementary
1329 Duchess Ave
West Vancouver

Holy Trinity School
128 27th St W
North Vancouver

Horseshoe Bay Christian School
885-22nd St
West Vancouver

Irwin Park Elementary
2455 Haywood Ave
West Vancouver

Keith Lynn Alternative Secondary School
1290 Shavington St
North Vancouver

L'ecole Francaise Int'l de Vancouver
4343 Starlight Way
North Vancouver

Larson Elementary
2605 Larson Rd
North Vancouver

Lions Gate Christian Academy
420 Seymour River Pl
North Vancouver

Lynn Valley Elementary
3207 Institute Road
North Vancouver

Lynnmour Community School
800 Forsman Ave
North Vancouver

Montroyal Elementary
5310 Sonora Dr
North Vancouver

Mulgrave School
2330 Cypress Bowl Lane
West Vancouver

Norgate Community Elementary
1295 Sowden St
North Vancouver

North Vancouver Christian Academy
2800 Mountain Hwy
North Vancouver

North Vancouver Distributed Learning Sch
2132 Hamilton Ave
North Vancouver

Plymouth Elementary
919 Tollcross Rd
North Vancouver

Queen Mary Elementary
230 Keith Rd W
North Vancouver

Queensbury Elementary
2020 Moody Ave
North Vancouver

Ridgeview Elementary
1250 Mathers Ave
West Vancouver

Ridgeway Annex
450 5th St E
North Vancouver

Ridgeway Elementary
420 8th St E
North Vancouver

Rockridge Secondary
5350 Headland Dr
West Vancouver

Ross Road Elementary
2875 Bushnell Pl
North Vancouver

Sentinel Secondary
1250 Chartwell Dr
West Vancouver

Seycove Secondary Community
1204 Caledonia Ave
North Vancouver

Seymour Heights Elementary
2640 Carnation St
North Vancouver

Sherwood Park Elementary
4085 Dollar Rd
North Vancouver

St Anthony's
595 Keith Rd
West Vancouver

St Edmund's
535 Mahon Ave
North Vancouver

St Pius X Elementary School
1150 Mount Seymour Rd
North Vancouver

St Thomas Aquinas
541 Keith Rd W
North Vancouver

Sutherland Secondary
1860 Sutherland Ave
North Vancouver

Upper Lynn Elementary
1540 Coleman St
North Vancouver

Vancouver Waldorf School
2725 St. Christophers Rd
North Vancouver

West Bay Elementary
3175 Thompson Pl
West Vancouver

West Vancouver Secondary
1750 Mathers Ave
West Vancouver

Westcot Elementary
760 Westcot Rd
West Vancouver

Westview Elementary
641 17th St W
North Vancouver

Windsor House Program
2132 Hamilton Ave
North Vancouver

Windsor Secondary
931 Broadview Dr
North Vancouver

Schools - Grade 9 to Grade 12