In Vancouver’s real estate scene from September to October 2023, there were notable changes in North Vancouver, Vancouver East, Vancouver West, and West Vancouver. Property listings in these areas declined, averaging a 17.3% reduction for detached homes, townhomes, and condos. Despite this, the sales market showed resilience, experiencing an overall 14.35% increase in sales across various housing types. These dynamics highlight the multifaceted nature of the real estate environments during this period, offering a nuanced perspective on the changing market conditions.
North Vancouver – Listing are down but sells are up!
In North Vancouver, the real estate landscape experienced notable shifts from September to October 2023.
- Listing decline across the board averaging an overall of -22.5%
- Single family homes in North Vancouver: -21.8% decline in new listings.
- Townhomes in North Vancouver: -19.4% decrease in new listing.
- Condos in North Vancouver: -26.3% reduce in new listing.
- The the sales market displayed resilience, seeing a positive movements increase with the average sales growth across all property types stood at an impressive 14.8%, highlighting a robust market during this period.
- Detached homes in North Vancouver: 15.7% improve in sales.
- Attached homes in North Vancouver : 12.1% growth in sales.
- Condos in North Vancouver: 16.7% increase in sales.
Vancouver East – following the same trends as North Van
Moving to Vancouver East. The real estate dynamics from September to October 2023 showcased a mixed trend.
- Property listings experienced declines. The market averaged an overall decrease of -8.86%
- Detached homes in Vancouver East: -11.1% decrease in new listings.
- Townhomes in Vancouver East: -5.5% reduce in new listing.
- Condos in Vancouver East: -10% decline in new listing.
- However, the sales market painted a different picture, indicating a vibrant real estate scene. The average sales growth for Vancouver East reached an impressive 36.8%.
- Single family homes in Vancouver East: 14.7% improve in sales.
- Attached homes in Vancouver East: remarkable growth of 92.6% in sales.
- Condos in Vancouver East: 3.1% growth in sales.
Vancouver West – Listing trends similar to previous areas
In Vancouver West, the real estate market demonstrated a balanced yet slightly subdued performance from September to October 2023.
- Property listings collectively decreased by an average of -15.77%.
- Detached homes in Vancouver West: -18.7% reduce in new listings.
- Attached in Vancouver West: -17.4% decrease in new listing.
- Condos in Vancouver West: -11.2% decline in new listing.
- However, the sales market showed resilience. The overall average sales growth in Vancouver West during this period was a respectable 11%.
- Single family homes in Vancouver West: 29.1% increase in sales was observed.
- Townhomes homes in Vancouver West: modest improve of 6.8% in sales.
- Condos in Vancouver West: marginal decline of -2.9% in sales.
West Vancouver – Listing trends down but moderate increase on selling
West Vancouver’s real estate landscape underwent distinctive changes from September to October 2023.
- Property listings saw significant reductions, with detached homes, attached homes, and condos decreasing by an average of -22.1%.
- Single family homes in West Vancouver: -41.1% decline in new listings.
- Attached in West Vancouver: -33.3% reduce in new listing.
- Condos in West Vancouver: 8.1% increase in new listing.
- However, the sales market displayed varying trends. The average sales growth for West Vancouver stood at a moderate 5.2%, reflecting a nuanced and diverse market response during this period.
- Detached homes in West Vancouver: 15.6% increase in sales was observed.
- Townhomes homes in West Vancouver: notable decrease of -33.3% in sales.
- Condos in West Vancouver : surged with a substantial increase of 33.3% in sales.
In summary, the real estate markets in North Vancouver, Vancouver East, Vancouver West, and West Vancouver experienced unique dynamics in the transition from September to October 2023. While property listings generally decreased, the sales markets exhibited varied levels of resilience and growth across different housing types, offering a nuanced perspective on the regional real estate landscape during this timeframe.
