{"id":1123,"date":"2022-09-08T17:56:56","date_gmt":"2022-09-08T21:56:56","guid":{"rendered":"https:\/\/www.filerwelch.com\/blog\/?p=1123"},"modified":"2022-10-13T18:38:20","modified_gmt":"2022-10-13T22:38:20","slug":"vancouver-family-homes-detached-market-update-real-estate-trends","status":"publish","type":"post","link":"https:\/\/www.filerwelch.com\/blog\/vancouver-family-homes-detached-market-update-real-estate-trends\/","title":{"rendered":"Single Family Homes in Vancouver – Market Trends in Eastside vs. Westside"},"content":{"rendered":"

An Ambiguous August in a Summer of Uncertainty<\/h3>\n

Detached home sales in Vancouver increased in August 2022, after months of declining sales. However, this isn\u2019t enough to say the downward trend of the real estate market is on the rebound. While the total sales volume month-to-month has increased in both Vancouver West and Vancouver Eastside, the inventory in both halves of Vancouver decreased along with the average sale price – with Vancouver West leading at a 12% drop. On average, homes in Vancouver East are selling at 4% below list price while homes in Vancouver West are selling 2% above list price, according to the SnapStats<\/span>\u00ae<\/span> report. Just when we thought there was a discernible trend, the property market in Vancouver has to shake that up once again.\u00a0<\/span><\/p>\n

Vancouver West<\/h3>\n

The most active price bands in August 2022 were <\/span>single-family houses priced $2.25M – $2.5M<\/span><\/a> and <\/span>detached homes priced $3M – $3.5M<\/span><\/a>.<\/span><\/p>\n

Similar to the <\/span>market performance of condos and townhomes in August<\/span><\/a>, Kitsilano is also a leader among the Vancouver West neighbourhoods in detached home sales at 33% sales ratio derived from 12 sales out of 36 inventory properties. Even as the housing market ebbs and flows, Kitsilano does remain <\/span>a neighbourhood with strong appeal<\/span><\/a> due in part to its younger vibe and prime beachfront.\u00a0<\/span><\/p>\n

Check out available listings of single-family homes in Kitsilano here.<\/span><\/a><\/p>\n

\"Infographic<\/p>\n

Vancouver East<\/h3>\n

During the month of August, the active price bands were <\/span>detached homes between $1.25M to $2.25M<\/span><\/a> – averaging a combined 20% sales ratio. The highest sales volume within this price range was for <\/span>single-family homes priced between $1.5M to $1.75M<\/span><\/a>. Homes within this specific price range sold at a 35% sales ratio.\u00a0<\/span><\/p>\n

In East Vancouver, <\/span>Killarney\u2019s detached home sales<\/span><\/a> has made it the standout neighbourhood pushing ahead of its peers in volume of sales. Close behind are the single-family home sales of <\/span>Renfrew, Strathcona, Fraser and Grandview-Woodland<\/span><\/a>, although these are single-digit total sales in a well-established period of struggling property markets. Even amid concerns of inflation, these neighbourhoods have plenty to offer would-be residents regardless of their intent – whether they are looking to raise a family, establish a foothold in Vancouver, or start a new chapter of their lives. Strathcona in particular will hold more importance as the nearby False Creek Flats area<\/a> welcomes the new St. Paul’s Hospital campus.<\/span><\/p>\n

For instance, <\/span>the neighbourhood of Grandview-Woodland<\/span><\/a>, boasts a vibrant cultural landscape with a mix of single-family homes and attached homes like condos and townhomes. Vancouver\u2019s famed Commercial Drive runs through the middle of this neighbourhood from north to south. It\u2019s well-positioned in relation to different transit services allowing for car-free commutes too.<\/span><\/p>\n

\"Infographic<\/p>\n","protected":false},"excerpt":{"rendered":"

An Ambiguous August in a Summer of Uncertainty Detached home sales in Vancouver increased in August 2022, after months of declining sales. However, this isn\u2019t enough to say the downward … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":1126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[40,144,294,293,290,84,7,87,44,103,49,37,165,36,170],"class_list":["post-1123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-statistics","tag-detached-homes","tag-houses","tag-houses-for-sale","tag-luxury-real-estate","tag-market-update","tag-metro-vancouver","tag-real-estate","tag-real-estate-agent","tag-realtor","tag-sales-ratio","tag-single-family-homes","tag-vancouver","tag-vancouver-eastside","tag-vancouver-west","tag-westside"],"yoast_head":"\nVancouver: Comparing Westside & Eastside Market Trends in August.<\/title>\n<meta name=\"description\" content=\"Market performance for detached homes in Vancouver West & Eastside, August 2022. 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