September 2016 Statistics

(October 19, 2016 )

Is the bubble bursting? There are signs from our latest Great Vancouver statistics as well as the up and coming mortgage qualifying changes that our market is in the direction of a correction.

There is a significant difference in the price spread between condos and single family homes which has been growing further apart at a speedy rate without much increase to the average salaries. That said, price adjustments can be a good thing.

There is always positive news in any adjusting market so do call us for advice on what to do! Never fear, there’s always a light at the end of the tunnel.

We chose to post the North Shore 1 yr, 3 yr & 5 yr changes simply because it's where we live. For more information about another Metro Vancouver area, please contact us directly.

NORTH VANCOUVER

Detached Homes Benchmark Price $1,663,000
1yr up 37.2%
3yr up 74.1%
5yr up 81.7%

Townhouse Benchmark Price $878,600
1yr up 33.3%
3yr up 51.8%
5yr up 52.3%

Apartments Benchmark Price $467,100
1yr up 21.5%
3yr up 29.9%
5yr up 32.7%

WEST VANCOUVER

Detached Homes Benchmark Price $3,363,700
1yr up 36.5%
3yr up 81.1%
5yr up 89.2%

Apartments Benchmark Price $906,700
1yr up 31.7%
3yr up 47.0%
5yr up 44.7%