Interest rates and inflation have slowed the market significantly
Monthly real estate market report – It’s no surprise that inflation is the top story when it comes to market confidence. Sellers are seeing their homes stay on the market longer, and average sales price has come down. Vancouver East Side has seen a more dramatic drop than Vancouver West Side. This is partly due to the huge price gains that the East Side saw during the pandemic. Vancouver West Side prices remained stable during the pandemic, so they are not seeing the same kind of dramatic drops that the East Side is seeing.
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September at a Glance
Vancouver West Side House
| August | September | |
| Inventory | 619 | 621 |
| Sales | 57 | 54 |
| Sale price | $3,050,000 | $3,395,000 |
| Price per Sq.Ft | $1,072 | $1,080 |
| Days on market | 22 | 21 |
Vancouver West Side Condo/Townhome
| August | September | |
| Inventory | 646 | 695 |
| Sales | 171 | 114 |
| Sale price | $875,000 | $911,500 |
| Price per Sq.Ft | $1,012 | $995 |
| Days on market | 17 | 15 |
Vancouver East Side House
| August | September | |
| Inventory | 485 | 457 |
| Sales | 59 | 66 |
| Sale price | $1,768,000 | $1,660,000 |
| Price per Sq.Ft | $779 | $731 |
| Days on market | 18 | 15 |
Vancouver East Side Condo/Townhome
| August | September | |
| Inventory | 438 | 433 |
| Sales | 108 | 98 |
| Sale price | $657,000 | $638,000 |
| Price per Sq.Ft | $818 | $894 |
| Days on market | 16 | 12 |
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Photo by David McBee