Home Inventory Slips as Sellers Hold Off for Fall Market

August 31, 2017

REWcap Main Aug 31

New home listings decline, edging down total of available homes for sale, #REWCAP data reveals

It is likely a slowing of new listings, rather than increasing sales, that is bringing down Greater Vancouver’s number of available properties for sale, as our weekly market stats reveal.

There were 878 new MLS listings in the Real Estate Board of Greater Vancouver region the week of August 21-27 – the lowest it has been for many weeks. This is typical for mid- to late August, as listing agents advise potential sellers to hold off until after Labour Day, when the buying market typically picks up again.

The number of available homes for sale in the region as of August 31 is 8,850, compared with 9,194 as of the end of July.

(Story continues below.)

REWCap Aug 31

Greater Vancouver’s top-priced listed home right now – and indeed, currently Canada’s most expensive listing – is a luxury estate in the ultimate address, First Shaughnessy. This is a 53-acre view property with a lavish, six-bedroom, eight-bathroom mansion that boasts features such as a resort-style pool area with fireside lounge, outdoor kitchen and cabana, a 1,200-bottle wine room and a private elevator. It has been on the market for one week as of August 31, and is listed at $34.8 million.

Topping the condo listings price chart is a 3,050-square-foot Yaletown condo at swanky waterfront building The Concord. This luxury home has three bedrooms, four bathrooms and more than 800 square feet of outdoor living space with sweeping water and city views. It has been on the market for 62 days and is listed at $13 million.

The priciest home in the townhouse/duplex/rowhome category right now is an unusual, waterfront half-duplex on the “Golden Mile” in Point Grey, priced at just shy of $11.8 million. This 1994-built family home has 2,312 square feet of oceanview living space in one of the city’s most desirable spots, with a lot that extends down to the water at English Bay. It has been on the market for 100 days as of August 31.

Joannah Connolly has been editor and content manager of since May 2014. Joannah has appeared on major local TV outlets as a real estate commentator, and has moderated and spoken on several industry panels. During this time, she also spent two years hosting the Real Estate Therapist radio show on Roundhouse Radio 98.3FM. A dual Canadian-British citizen, Joannah has 20 years of journalism experience in Vancouver and London, with a prior background in construction, architecture and business media.
© Copyright 2017

Comments welcomes your opinions and comments. We do not allow personal attacks, offensive language, unsubstantiated allegations or self-promotional content, including promotional website links. We reserve the right to unpublish comments, to edit them for length, style, legality and taste, and to reproduce them in print or online. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Email to a Friend