What’s happening in West Vancouver‘s property market?
Recent stats from our real estate board shows detached home sales were down -45% from June 2021 and -30% from May 2022. In contrast condo sales increased a bit from the same time last year and the month before; +5.3% and +11.11% respectively.
The MLS HPI Benchmark Price one-year change for detached homes increased +8.5% and +6.5% for condos.
By property type, the June Sales-Active-Listings Ratio was 7.1%, 20.6% and 31.3% for detached homes, condos and townhomes respectively.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.
Full blast of real estate stats to check out below:
WV Realtors Report June 2022
