October 2020 Market Insights
October 2020 Market Insights

October 2020 Market Insights by the Real Estate Board of Greater Vancouver.

SALES:3687 home sales on the MLS in October 2020+29% from last year (October 2019)

  • +35% from 10-year average
  • making it the 2nd highest sales total on record for the month of October

SUPPLY:
  • 5571 new listings in October 2020
  • +36% from last year (October 2019)
  • +25% from 10-year average
  • 12,416 total listings in our region in October 2020
  • +1.5% from last year (October 2019)
  • Home Buyer demand continues to outpace supply
  • home prices have experienced upward pressure
Sales-to-Active Listing Ratio:
  • <12% - Buyer’s Market conditions…prices typically decline
  • 12-20% - Balanced Market conditions…prices typically stable
  • >20% - Seller’s Market conditions…prices typically increase
Since the summer 2020, we have seen this ratio over 20%:
  • June: 21%
  • July: 26%
  • August: 24%
  • September: 28%
  • October: 30%
By property type:
  • Detached homes: 31%
  • Townhomes: 43%
  • Condos: 25%
The benchmark price for the market in all residential  (October 2020) is $1,045,100
  • +6% from last year
  • +.4% from last month

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