Vancouver and Burnaby Real Estate Market Update May 2017

May 2017 Market Update

This is the price analysis for the month of May 2017 in Vancouver and Burnaby. It includes detailed information on detached homes, attached condos and townhomes. Take a look at the current market trends!

Downtown Vancouver May 2017 market update

Market Summary

  • Official Market Type DOWNTOWN:Sellers market at 78% Sales Ratio average (7.8 in 10 homes selling rate)
  • Homes are selling on average at list price
  • Most Active Price Band**+/-$1 mil:$400k to $700k (>100% Sales Ratio) /$1.5 mil to $1.75 mil(>100% Sales Ratio)
  • Buyers Best Bet**+/-$1 mil:Homes between $900k to $1 mil/$1.75 mil to $2 mil plus, Yaletown and 3 bedroom properties
  • Sellers Best Bet**Selling homes in Downtown and up to 1 bedroom properties
Vancouver Westside May 2017 market update

Market Summary

  • Official Market Type WESTSIDE DETACHED:Sellers market at 33% SalesRatio average (1 in 3 homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band**+/-$3 mil:$2 mil to $2.25 m il(>100% Sales Ratio)/$3 mil to $3.5 m il(67% Sales Ratio)
  • Buyers Best Bet**+/-$3 m il:$2.75 mil to $3 mil/$5 mil plus, Shaughnessy, South Granville, University and 7 plus bedrooms
  • Sellers Best Bet**Selling homes in Arbutus, Cambie, Kitsilano and 3 to 4 bedroom properties
Vancouver Westside May 2017 market update

Market Summary

  • Official Market Type WESTSIDE ATTACHED:Sellers market at 82% SalesRatio average (8.2 in 10 homes selling rate)
  • Homes are selling on average 4% above list price
  • Most Active Price Band**$500,000 to $900,000 with average >100% Sales Ratio (Sellers market)
  • Buyers Best Bet**Homes between $2.75 mil to $3 mil,South Granville and minimum 4 bedroom properties
  • Sellers Best Bet**Selling homes in Fairview, Falsecreek, Kerrisdale, Kitsilano and up to 1 bedroom properties
Vancouver eastside May 2017 market update

Market Summary

  • Official Market Type EASTSIDE DETACHED:Sellers market at 27% Sales Ratio average (2.7 in 10 homes selling rate)
  • Homes are selling on average 3% above list price
  • Most Active Price Band**$1 mil to $1.25 mil with average 76% Sales Ratio (Sellers market)
  • Buyers Best Bet**Homes between $2.5 mil to $2.75 mil, Collingwood, Fraserview, Renfrew and minimum 7 plus bedrooms
  • Sellers Best Bet**Selling homes in Fraser, Knight, Mount Pleasant and up to 2 bedroom properties
Vancouver Eastside May 2017 market update

Market Summary

  • Official MarketType EASTSIDE ATTACHED:Sellers market at 94% Sales Ratio average (9.4 in 10 homes selling rate)
  • Homes are selling on average 6% above list price
  • Most Active Price Band**$0 to $300,000 with average >100% Sales Ratio (Sellers market)
  • Buyers Best Bet**Homes between $1.25 mil to $1.5 mil, Killarney, Victoria and 3 bedroom properties
  • Sellers Best Bet**Selling homes in Grandview, Hastings, Mt Pleasant, Renfrew and up to 1 bedroom properties
Burnaby May 2017 market update

Market Summary

  • Official Market Type BURNABY DETACHED:Sellers market at 27% Sales Ratio average (2.7 in 10 homes selling rate)
  • Homes are selling on average 3% above list price
  • Most Active Price Band**$1.25 mil to $1.75 mil with average 42% Sales Ratio (Sellers market)
  • Buyers Best Bet**Homes between $3 mil to $3.5 mil, Simon Fraser University, Westridge and minimum 5 bedroom properties
  • Sellers Best Bet**Selling homes in Government Road, Montecito, Sperling-Duthie, The Crest and 3 to 4 bedroom properties
Burnaby May 2017 market update

Market Summary

  • Official MarketType BURNABY ATTACHED:Sellers market at 96% Sales Ratio average (9.6 in 10 homes selling rate)
  • Homes are selling on average 3% above list price
  • Most Active Price Band**$600,000 to $900,000 with average >100% Sales Ratio (Sellers market)
  • Buyers Best Bet**Homes between $1 mil to $1.25 mil, Edmonds, Simon FraserUniversity,Sullivan Heights and 4 plus bedrooms
  • Sellers Best Bet**Selling homes in Brentwood Park ,Central, Highgate, Metrotown, South Slope and 3 bedroom properties
*With a minimum inventory of 10 in most instance