{"id":1233,"date":"2022-11-07T18:47:29","date_gmt":"2022-11-07T23:47:29","guid":{"rendered":"https:\/\/www.filerwelch.com\/blog\/?p=1233"},"modified":"2022-11-07T18:47:29","modified_gmt":"2022-11-07T23:47:29","slug":"market-trends-for-detached-single-family-homes-in-vancouver-october-2022-kerrisdale-point-grey-killarney-renfrew","status":"publish","type":"post","link":"https:\/\/www.filerwelch.com\/blog\/market-trends-for-detached-single-family-homes-in-vancouver-october-2022-kerrisdale-point-grey-killarney-renfrew\/","title":{"rendered":"Market Trends for Single-Family Homes in Vancouver, October 2022"},"content":{"rendered":"

The real estate market has continued to be unpredictable and exhibit unexpected twists and turns, a continuing trend throughout 2022. October carries on some of <\/span>the unexpected market shifts witnessed and analyzed in September<\/span><\/a>. It feels too soon and not prudent to call this most recent market performance a sign of things to come – for better, or worse. In the meantime, let\u2019s look at the ways in which the detached homes market in Vancouver fared during October 2022.<\/span><\/p>\n

Vancouver West<\/h3>\n

The detached home market in Vancouver West was blessed with some unexpected figures after a turbulent summer and early autumn. The total sales ratio was 13%. This stemmed from a 35% increase in sales against an 11% reduction in inventory. In terms of prices the Sale to List Price Ratio rose by 5% to 98%, offsetting a 9% reduction in the average sale price to $3,103,500. Vancouver West is in a balanced market right now.<\/span><\/p>\n

The most active priceband in Vancouver West is interesting to say the least. <\/span>Homes priced between $2M to $2.5M sold at a ratio of 105%<\/span><\/a>. The next most active priceband was a slightly more reasonable 24% sales ratio, for <\/span>single-family homes priced from $3 million to $3.5 million<\/span><\/a>. The majority of housing inventory on the Westside is above $3,500,000 so it\u2019s possible these high performing pricebands are indicative of the continued challenges posed by higher interest rates.\u00a0<\/span><\/p>\n

The most popular neighbourhoods in the Vancouver West house market are Point Grey, Dunbar & Kerrisdale. It\u2019s no surprise that these neighbourhoods would make an appearance in a Top 3 like this as they have long been associated with a suburban lifestyle and are desirable neighbourhoods to own homes in. The trio led in both sales ratios and volume of sales.<\/span><\/p>\n