East Vancouver Real Estate Statistics
Below are current, monthly Real Estate Statistics for East Vancouver. The area is large, with significant differences between neighbourhoods and style of properties, but these stats should give you a general idea of what is happening in the Real Estate Market.
These stats only tell part of the story, so we can give you a more specific breakdown of a certain neighbourhood or type of property, including our experience with what’s actually happening on the ground – just ask us!
Total Real Estate Inventory in East Vancouver
This graph shows number of properties available for sale at the end of a given month.
We typically see a similar trend each year: a decrease in inventory in December, with a slow increase of inventory beginning in the New Year through the Spring, a small decline throughout the summer with another increase in the Fall.
Sales to Active Ratio in East Vancouver
The number of home sales divided by total active inventory for the specified period. This number gives you an idea of how busy the market is. It’s typically thought that a sales to active ratio under 10% is generally a Buyer’s Market, 10% to 20% is a Balanced Market and above 20% is a Seller’s Market.
A high sales to active ratio leads to more competition on each property and more upwards pressure on prices.
Average Sales Price of Real Estate in East Vancouver
The average sales price is the total dollar volume divided by the total number of sales in a given month. This number represents the typical price of Real Estate in East Vancouver, though keep in mind the number can be easily swayed based on certain sales in a particular month.
The average sales price doesn’t take into account details of each property. For example, if a rare luxury 2 bedroom condo sold for $10-million, the average price would be high for that particular month compared to a typical month. If one month sees a high number of “lot value” house sales, the average price of a detached house may drop, but that doesn’t mean the average price of a nice and livable house has dropped.
Average Days on Market in East Vancouver
The average number of days on market details the time between when a property is listed and when a firm offer has been reached.
Keep in mind that this number doesn’t take into account situations where a property has been re-listed. For example, if a property was on the market for a month, dropped its price and re-listed as a new listing, the days on market would be reset to zero.
Average Price per SqFt of East Vancouver Real Estate
This is calculated by taking an average of sale prices divided by square footage for each individual sale in the current period.
Keep in mind that this number isn’t a good indication of sales for detached properties as the sqft of the property, specifically for teardowns, isn’t indicative of its value.
