Eyes on Vancouver Average Home Price
Posted November 1st, 2012 in Real Estate, Statistics | 
Eye Popping
Many eyes watch as Vancouver average home prices are served up in October.
October’s Average Residential price boiled in only one of three segments. Not feeling the heat detached and apartment prices remained cool while attached prices cooked.
Average Price 1977 – 2012
Detached
Although detached prices dropped from September’s $1,119,166 to October’s $1,116,108, Vancouver’s detached average price burbled to a level higher than most months in 2012 with the exception of February’s $1,235,244.
Detached Active listings dropped from the year to date high of 8,231 with an October total of 7,619.
Attached
Vancouver’s Attached market segment served up an average October price of $583,376 – the second highest average eclipsed only by March 2012′s $593,139.
Apartment
October 2012′s average apartment price of $429,371 stayed raw as the second lowest average price for 2012. July remained at the bottom of the cauldron at $406,366.
Vancouver Real Estate Average Prices:
| Detached | Attached | Apartment |
| October 12 – $1,116,108 | October 12 – $583,376 | October 12 – $429,371 |
| October 11 – $1,162,349 | October 11 – $571,425 | October 11 – $446,296 |
| October 10 – $1,058,578 | October 10 – $519,187 | October 10 – $441,969 |
Vancouver Real Estate Inventory – Active Listings
| Detached | Attached | Apartment |
| October 12 – 7,619
+ 17%
|
October 12 – 2,689
+ 09%
|
October 12 – 7,062
+ 09%
|
| October 11 – 6,494 | October 11 – 2,449 | October 11 – 6,434 |
Vancouver Real Estate – Units Sold
| Detached | Attached | Apartment |
| October 12 – 798
-18%
|
October 12 – 338
-11%
|
October 12 – 803
-16%
|
| October 11 – 977 | October 11 – 382 | October 11 – 958 |
*Percent = YOY
Thanks for the stats. Larry with the assessed values coming out soon do you expect the new assessed values to reflect the moderation in real estate prices.
interesting stats Larry,
based on info from CREA we can expect home prices to experience downward pressure if MOI ( months of inventory) is higher than 7. According to the numbers provided above this is where Vancouver is :
detached = 9.54 MOI
attached = 7.95 MOI
apartment = 8.79 MOI
in Kelowna where I live, MOI has been higher than 12 ( at times approaching 20 ) for 3 years now. As one would expect, prices have been falling the entire time……..
I for one think the average price will be firm or tick up as places listed at $6million or so get sold in the low $4million range.
JMHO
@rabbit
probably but they will be pegged as of July 01
@form man
well then your numbers might imply that things aren’t so bad here
@smoking
yup that makes sense
As always Larry, thanks for the prompt average price updates.
aren’t bad yet anyway……..
Good info Larry as always. But please don’t use Cam’s predictions anymore. He said we have strong employment which should keep RE stable. In fact, our job market has struggled and is deteiriating in the last report.
@van guy
perfection evades all
http://www.statcan.gc.ca/pub/71-001-x/2012010/t015-eng.htm
Employment in Vancouver grew 0.1% over the last year. Cam is not even in the same ball-park using the word “strong”.
@reason
write him and let him know.