Vancouver West
During September 2022 sales of detached, single-family homes in Vancouver’s Westside decreased by 5%. Homes are selling at a 9% sales ratio at that point. Houses priced $2M to $4M have the most sales activity, which tracks with the average sale price of a Vancouver West detached home hovering around $3 million. For what it’s worth, homebuyers are likely getting their money’s worth as homes with 3 bedrooms or more account for 95% of all detached home sales.
Other notable metrics of the past month include the Sale to List Price Ratio dropping to 93%, resulting in homes being sold for 7% under list price, while properties staying on the market for more than 20 days before sale.
In terms of neighbourhoods, single-family homes in the Dunbar area continue to be a strong performer of sales activity – with an 18% sales ratio – and evidently an attractive neighbourhood for homebuyers. Dunbar has suburban streets, with a village-esque commercial area, and in close proximity to the forests of Pacific Spirit Park.
Similar to Dunbar, nearby Point Grey also has suburban streets, a proximity to amazing natural amenities like Pacific Spirit Park or Jericho Park, and a village-like area of shops. These homes are also in the catchment area for some of Vancouver’s best schools. View available listings for single-family homes in Point Grey.
Vancouver East
Whereas home sales in Vancouver’s Westside decreased last month, East Vancouver’s home sales actually increased by 12%. That means the sales ratio was 14%. This is likely due to the increased financial burden homebuyers are facing, possibly causing buyers to opt for more affordable homes in Vancouver East. This is somewhat reflected in the bulk of single-family home sales between $1,250,000 to $2,000,000. As with the Westside, however, upwards of 95% of homes sold in Vancouver East have 3 or more bedrooms.
Other notable metrics include properties being on the market 3 days less than before, and the average sale price decreasing by 6% to $1,660,000.
Sales activity is much more distributed across East Vancouver’s neighbourhoods. Knight is the only neighbourhood to make double-digits, coming in at 10 sales for the month – but at a 29% sales ratio. There are still single-family homes available for sale in the Knight neighbourhood.
Other strong contenders for the most sales include Fraser and Killarney neighbourhoods. During September 2022, the neighbourhoods have sales ratios of 33% and 24%, respectively.
Fraser is a vibrant and diverse neighbourhood in Vancouver’s Eastside, considered one of the densest residential neighbourhoods in the city, and home to many of Vancouver’s notable schools. This area also includes private schools, like Vancouver College. Take a look at homes for sale in the great neighbourhood of Fraser.
Killarney is quite attractive for golfers as they are in close proximity to Fraserview Golf Course, one of Vancouver’s public golf courses. Not having to leave the city to play a round of golf on an 18-hole course is a treat unto itself. View detached home listings in Killarney.
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