Stats recently released by our real estate board show West Vancouver is in a different market than earlier this year. Residential property sales decreased -41% from same time last year and down -41% from the 10 year monthly sale average.
We’re likely in this market because interest rates have more than doubled since the start of the year and mortgage qualifying continues to be a significant challenge for many potential buyers as interest rates rise.
West Vancouver residential property House Price Index increased +26% from September 2021 to September 2022. The number of active property listings went down -27%.
Residential properties includes detached homes, apartments and townhomes.
Check out September 2022 stats for all residential property types: detached homes, apartments and townhomes:
1September 2022 West-Vancouver