February 2016 Vancouver Real Estate Market Update

February 2016 ranked the highest selling month on record for the Metro Vancouver housing market!

Property sales were up 36.3% from February 2015 and 65.6% per cent compared to January 2016. Another stat worth mentioning - sales were up 56.3% above the 10-year sales average.

These are very impressive statistics for sellers. The market is extremely competitive and fast moving with the market strongly favorings sellers. This is putting upward pressure on home prices with no real end in sight.

As we head further into the Spring months we should see inventory levels rise, in theory additional supply should help ease the buyer demand.

If you are thinking about selling exposure is still key to getting top dollar. If you are looking to buy you need a proven agent on your side to navigate this market. Buying or Selling I am here and have the experience to assist you with all of your Real Estate Needs!  

Hottest Markets
Downtown Vancouver - 114% Sales Ratio

Yaletown - 77% Sales Ratio 
Westside Detached – 63% Sales Ratio
North Vancouver Detached – 81% Sales Ratio
North Vancouver Attached – 96% Sales Ratio

Downtown Condos price per square foot was up 7% in February from January.
North Vancouver and Westside Detached Homes are selling on average 6% above list price.

Want to chat Real Estate or know your neighbourhood stats? Call me directly at 604-209-1230

Blog Archives