Real Estate Market Update for South Delta following November 2017

Real Estate Market Update for South Delta following November 2017

Thanks for taking the time to look at my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).

Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!

Here is a link to the Real Estate Board of Greater Vancouver media release.

Sales for the past November were 15% above 10 year averages, led mostly by the townhouse and apartment sectors.

“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.

 

Sales and Listings

Condo (apartment & townhouse) sales continue to be the most active part of the market throughout the overall REBGV.

That experienced has been felt less here in South Delta as shown by the table below.

REBGV Ladner Tsawwassen
Detached
Sales 846 18 19
Listings 5299 88 141
Ratio 16.0% 20.5% 13.5%
Attached
Sales 446 5 2
Listings 1224 23 8
Ratio 36.4% 21.7% 25.0%
Apartments
Sales 1508 3 3
Listings 2224 9 18
Ratio 67.8% 33.3% 16.7%

 

 

Prices

 Following the drop in detached properties in late 2016 and the bounce back during March to August of this year, prices have ‘flattened out’ over the past 3 months.

Condo prices continue to rise with year to date increases for attached properties at 17.7% and apartments at 21.2%.

HPI REBGV DetHPI REBGV THHPI REBGV Apt

 

Locally

In our predominantly single family South Delta market here is a measure of what is selling – and what is not!

Price Dist LadnerPrice Dist Tsawwassen

 

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