{"id":3212,"date":"2025-01-06T12:32:47","date_gmt":"2025-01-06T20:32:47","guid":{"rendered":"https:\/\/www.nestpresales.com\/blog\/?p=3212"},"modified":"2025-01-21T15:53:24","modified_gmt":"2025-01-21T23:53:24","slug":"vancouver-west-vancouver-east-real-estate-shifts-market-update-december-2024","status":"publish","type":"post","link":"https:\/\/www.nestpresales.com\/blog\/vancouver-west-vancouver-east-real-estate-shifts-market-update-december-2024\/","title":{"rendered":"Vancouver Real Estate Shifts: Market Update December 2024"},"content":{"rendered":"

December 2024 saw continued shifts in Vancouver\u2019s real estate market, with price adjustments and fluctuating demand across Vancouver East and Vancouver West.<\/p>\n

\"Vancouver<\/p>\n

Vancouver East \u2013 Townhouses Lead Price Growth, New Listings Decline, and Sales Ratios Strengthen for All Properties<\/h3>\n

Price Analysis:<\/h4>\n

House\/Detached:<\/h6>\n

The benchmark price for detached homes in Vancouver East declined by 0.4% month-over-month, settling at $1,855,700. Compared to December 2023, the price increased slightly by 0.3%. This remains below the Metro Vancouver benchmark of $1,997,000.<\/p>\n

Explore Vancouver East single-family homes priced under $1,850,000 here<\/a>, or above $1,850,000 here<\/a>.<\/p>\n

Townhouse\/Attached:<\/h6>\n

Townhouse prices in Vancouver East showed strong growth, rising 2.6% from November to $1,147,000. Year-over-year, they surged by 7.2%, significantly outpacing Metro Vancouver\u2019s benchmark of $1,114,600.<\/p>\n

Discover Vancouver East townhouses listed under $1,150,000 here<\/a>, or explore options priced above $1,150,000 here.<\/a><\/p>\n

Condo\/Apartment:<\/h6>\n

Condo prices dipped slightly by 0.3% month-over-month, reaching $690,200. However, they saw a modest year-over-year gain of 0.5%, remaining below Metro Vancouver\u2019s benchmark of $749,900.<\/p>\n

Search for Vancouver East condos under $690,000 here<\/a>, or explore those priced above $690,000 here.<\/a>.<\/p>\n

New Listings and Sales:<\/h4>\n

New listings fell across all property types in Vancouver East compared to November. House listings in Vancouver East<\/a> dropped to 57 from 126, though they remained 36.8% higher than December 2023. Vancouver East’s Townhouse listings<\/a> fell to 55 from November\u2019s 144 but still marked a 12.7% year-over-year increase. Condo listings in Vancouver East<\/a> saw a drop to 67 from 205 in November, with a 4.5% increase compared to the previous year.<\/p>\n

Sales activity in Vancouver East showed resilience, particularly for condos. Detached home sales reached 57, with a remarkable sales ratio of 100.0%, though this was down 25.0% from December 2023. Townhouse sales totaled 48, with an 87.3% sales ratio, up 10.2% year-over-year. Condos saw the most significant sales ratio increase, hitting 137.3%, a 41.7% rise compared to December 2023.<\/p>\n

Take a look at all the condos in East Vancouver with an open house coming up here.<\/a><\/p>\n

\"Vancouver<\/h3>\n

Vancouver West \u2013 Townhouse Prices See Strong Gains, Listings Drop, and Sales Ratios Hold Steady<\/h3>\n

Price Analysis:<\/h4>\n

House\/Detached:<\/h6>\n

The benchmark price for houses in Vancouver West increased by 0.5% month-over-month, reaching $3,384,400, though it remains 2.4% lower compared to the previous year. At $3,384,400, it remains significantly higher than Metro Vancouver’s benchmark price of $1,997,400.<\/p>\n

Browse homes in Vancouver West priced below $3,370,000 here<\/a>, or find those above $3,370,000 here.<\/a><\/p>\n

Townhouse\/Attached:<\/h6>\n

Townhouses in Vancouver West saw the strongest price growth, rising 4.3% from October and 6.7% year-over-year to a benchmark price of $1,519,600. This price is notably higher than Metro Vancouver’s benchmark of $1,117,600.<\/p>\n

Explore townhomes in Vancouver West for less than $1,530,000 here<\/a>, or view options exceeding $1,530,000 here.<\/a><\/p>\n

Condo\/Apartment:<\/h6>\n

Condo prices dipped slightly by 0.5% month-over-month to $825,900, reflecting a 1.2% decrease year-over-year. The benchmark price of $825,900 remains higher than Metro Vancouver’s benchmark of $752,800.<\/p>\n

Check out condos in Vancouver West under $820,000 here<\/a> and find higher-priced options over $820,000 here.<\/a><\/p>\n

New Listings and Sales:<\/h4>\n

Listings in Vancouver West declined in December. Detached home listings in Vancouver West<\/a> fell to 48 from 125 in November but remained up 22.9% year-over-year. Vancouver West\u2019s Townhouse listings<\/a> dropped to 43 from 109, though they were 44.2% higher than December 2023. Condo listings in Vancouver West<\/a> decreased to 235 from 471 in November, with a 21.3% year-over-year rise.<\/p>\n

Sales activity held steady across Vancouver West property types. Detached home sales reached 47, with a sales ratio of 97.9%, a 3.5% year-over-year increase. Townhouses recorded 40 sales and a 93.0% sales ratio, though this was down 2.9% from last year. Condo sales totaled 219, with a 93.2% sales ratio, reflecting a slight 2.6% decline compared to December 2023.<\/p>\n

Take a look at all the houses in Vancouver West with an open house coming up here.<\/a><\/p>\n

 <\/p>\n

Metro Vancouver \u2013 Market Continues to Adjust with Varied Performance Across Property Types<\/h3>\n

Despite a slower start to the year, Metro Vancouver sales activity picked up towards the end, with a noticeable recovery in momentum driven by declining mortgage rates.<\/a> This trend suggests a potential for greater market activity heading into 2025.<\/p>\n

Currently, Metro Vancouver has an average sales ratio at 12.1% for detached homes, 23.6% for townhomes, and 18.7% for condos. While Vancouver East and Vancouver West outperformed Metro Vancouver averages in sales ratios, price growth varied, with townhouses seeing the most notable gains.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vancouver\u2019s real estate market saw shifts in December 2024. Townhouse prices surged, condo sales strengthened, and listings declined across Vancouver East and West. See key trends and market insights.<\/p>\n","protected":false},"author":5,"featured_media":3213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[773,772,78,771,137,769,136,293,112,770,28,673,49,212],"class_list":["post-3212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vancouver-real-estate-statistics","tag-773","tag-attached","tag-condos","tag-detached","tag-east-vancouver","tag-houses","tag-listings","tag-sales","tag-townhomes","tag-townhouses","tag-vancouver","tag-vancouver-east","tag-vancouver-west","tag-vancouver-westside"],"yoast_head":"\nVancouver Real Estate Shifts: Market Update December 2024<\/title>\n<meta name=\"description\" content=\"Vancouver's December 2024 Real Estate market saw price shifts and strong townhouse growth across East and West Vancouver.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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