Vancouver West Real Estate - November, 2009
The following charts give a bird-eye view on the supply and demand for homes in Vancouver West:
| Property Type |
Benchmark Price |
1 year Change %
|
3 Year Change %
|
5 year Change %
|
| Detached house |
$1,356,169
|
+ 5.3%
|
+12.5%
|
+44.8%
|
| Townhouse |
$715,027
|
+25.3% |
+14.8%
|
+61.4%
|
| Condo / Apartment |
$683,122
|
+12.9%
|
+8.5%
|
+46.4%
|
Market Sentiment
Current list/sale ratio for Vancouver West real estate is under 3
months of inventory. The demand for Vancouver West homes continued to gain momentum, while supply
continued to diminish. Townhouse value gained the most at 25.3% year-over year, compared to condos at 12.9%, and detached homes gained only 5.3%.
There was a visible increase in the supply of
condos over the past 3 months. This market segment will likely be the
first to soften if there is a significant jump in the interest rates.
Home buyers in this market segment are sensitive to interest rates and
any tightening in mortgage financing rules.
You can view detached homes listed for sale in Vancouver West and Downtown Vancouver condos here.
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