Live, interactive charts. Updated monthly!
These Vancouver Westside housing market trends are for the combined sub-areas of Arbutus, Cambie, Coal Harbour, Downtown (West), Dunbar, Fairview, False Creek, Kerrisdale, Kitsilano, MacKenzie Heights, Marpole, Mount Pleasant (West), Oakridge, Point Grey, Quilchena, SW Marine, Shaughnessy, South Cambie, South Granville, Southlands, University, West End and Yaletown.
Graphs for other areas are available. Please get in touch for more information.
The BC government began collecting the residency status of buyers in June 2016, and swiftly introduced an additional 15% Property Transfer Tax for foreign entities on 2nd August 2016.
The MLS® Home Price Index (HPI) measures home price trends and home price inflation/deflation in residential markets within territories of participating boards in Canada. Prices quoted in the monthly news release from REBGV and in the media typically refer to the MLS® HPI Price. For more information about this tool, visit homepriceindex.ca
Generally, analysts say that a balanced market occurs when the sales-to-active-listings ratio (SALR) is between 15% and 20%.
A SALR below 15% is deemed a “buyer’s market” with downward pressure on prices.
A SALR above 20% is deemed a “seller’s market” with upward pressure on prices.
2008 and 2012 were noticeably slower years for selling detached homes on Vancouver’s Westside.
Inventory levels are typically lower around the Christmas period, but that does not mean that it’s a bad time to have your home on the market!
Number of Sales
Generally, the number of real estate transactions peak in the spring, and there is a second, lower peak in the fall. Transactions are reported to the Real Estate Board when the contract becomes “subject-free” so there is usually a time delay between writing an offer and recording the sale.