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West Vancouver Real Estate Report - October 2017

In West Vancouver sales were up 18.9% from October 2016 yet were down 21.4% from September and 48.7% below the 10 year Oct average.

New listings were up 36.9% from last year and are 13.5% above the 10 year Oct average.

Total listings have steadily risen throughout the year and are now nearly back in line with historical levels, down only 3.6% from the 10 year Oct average.

The result, West Vancouver real estate remains firmly a buyer’s market, with a sales-to-active listing ratio of 6.9% (below 12% is a buyer’s market). The average sale price of a house in West Vancouver in October was $2,518,000.

Why the jump in sales in October? A lot of the activity can likely be explained to buyer’s purchasing with expiring mortgage rate preapprovals. (lenders will typically hold an interest rate for 60-90days)

On top of this, many buyers are trying to get into the market before the new mortgage lending rules come into effect in January 2018.


This post first appeared on West Vancouver, BC, Canada, please read the originial post: here

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West Vancouver Real Estate Report - October 2017


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