Detached home sales for the month of November was at the same level as the previous month at 161 units. When compared to the total active listing count around 450 homes, the inventory of Vancouver West detached homes (MOI) at around 2.8 months dramatically tightened the supply and created strong buyer pressure. With fewer choices for home buyers, sellers are holding firm on their selling prices resulting in the average selling price holding at above $2.10 million.
The median price edged higher from around $1,660,000 to $1,750,000 level. Current price level is expected to maintain with a reasonably stable spring market for 2011.
Building Lot Sales Activities
Sales activities for older detached homes in Vancouver West are strong with multiple offers being reported. Homes that were sold within days of posted on the mls system were selling at full price and very often in multiple offers situation, successful buyers paid way over asking prices.
You can view detached homes for sale in Vancouver west using the link here.