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Home Index Report For Maple Ridge- Pitt Meadows-Lower Mainland

Posted by mike on November 12, 2019
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Vancouver Real Estate Board October 19th Home Price Index Report
VANCOUVER, BC – November 4, 2019 – The Metro Vancouver* housing market is experiencing a fall pickup in home sale activity.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,858 in October 2019, a 45.4 per cent increase from the 1,966 sales recorded in October 2018, and a 22.5 per cent increase from the 2,333 homes sold in September 2019.
Last month’s sales were 9.8 per cent above the 10-year October sales average.
There were 4,074 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2019. This represents a 16.4 per cent decrease compared to the 4,873 homes listed in October 2018 and a 16.3 per cent decrease compared to September 2019 when 4,866 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,236, a 5.8 per cent decrease compared to October 2018 (12,984) and a nine per cent decrease compared to September 2019 (13,439).
For all property types, the sales-to-active listings ratio for October 2019 is 23.4 per cent. By property type, the ratio is 17.3 per cent for detached homes, 26.2 per cent for townhomes, and 29 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $992,900. This represents a 6.4 per cent decrease from October 2018, a 1.7 per cent decrease over the past six months, and a 0.2 per cent increase compared to September 2019.
The real estate industry is a key economic driver in British Columbia. In 2018, 24,619 homes changed ownership in the Board’s area, generating $1.7 billion in economic spin-off activity and an estimated 11,720 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $26 billion in 2018.
  Property Type   Area Benchmark Price Price Index 1 Month Change % 3 Month Change % 6 Month Change % 1 Year Change % 3 Year Change % 5 Year Change % 10 Year Change %
Residential / Composite Lower Mainland $939,600 258.6 0.1% -0.4% -1.8% -5.6% 10.4% 59.5% 83.7%
Greater Vancouver $992,900 258.3 0.2% -0.2% -1.7% -6.4% 6.1% 52.8% 80.0%
Bowen Island $973,700 211.1 -0.2% 2.4% -1.8% 0.6% 22.8% 65.4% 60.4%
Burnaby East $922,300 255.8 0.2% -0.8% -3.0% -8.0% 6.4% 50.1% 78.9%
Burnaby North $850,800 256.9 0.1% -2.1% -2.4% -6.9% 9.0% 55.3% 80.2%
Burnaby South $938,200 265.0 -0.3% -0.7% -3.8% -8.0% 8.8% 54.7% 84.9%
Coquitlam $883,600 262.1 -0.4% -0.8% -1.6% -6.2% 12.8% 63.1% 92.7%
Ladner $778,300 219.1 0.3% -1.7% -3.6% -8.8% -6.0% 39.8% 59.6%
Maple Ridge $746,500 237.7 0.2% -0.8% -1.2% -4.7% 20.1% 72.9% 80.3%
New Westminster $637,600 280.5 -0.4% -1.4% -3.1% -8.9% 23.6% 68.4% 91.7%
North Vancouver $1,019,400 229.1 0.6% -0.9% -2.3% -6.0% 1.7% 46.3% 67.3%
Pitt Meadows $734,700 267.1 0.5% -0.9% -1.0% -5.2% 24.8% 76.5% 95.8%
Port Coquitlam $727,700 249.1 0.5% -1.5% -1.9% -5.1% 16.3% 67.1% 78.8%
Port Moody $894,700 247.3 -0.6% -2.0% -1.2% -5.9% 16.4% 64.4% 84.6%
Richmond $909,900 270.5 0.5% 0.8% -1.8% -7.7% 4.5% 54.0% 82.8%
Squamish $784,800 249.7 1.0% 2.9% 1.8% 1.7% 23.2% 83.1% 99.3%
Sunshine Coast $604,000 211.6 0.6% 0.4% -2.0% 0.8% 24.3% 70.0% 61.2%
Tsawwassen $908,800 227.8 0.7% -2.2% -4.0% -8.9% -7.3% 45.3% 67.9%
Vancouver East $1,038,200 304.8 0.5% 0.4% -2.3% -6.3% 2.3% 54.3% 95.9%
Vancouver West $1,227,100 255.7 0.2% 0.4% -1.1% -7.8% -1.8% 39.7% 72.0%
West Vancouver $2,095,300 230.7 1.1% -1.4% -1.8% -8.9% -19.4% 26.1% 70.8%
Whistler $917,400 213.8 0.1% 2.7% 3.0% 2.7% 28.6% 83.5% 73.0%
Single Family Detached Lower Mainland $1,212,900 257.2 0.3% -0.5% -1.3% -5.7% -2.2% 49.9% 86.6%
Greater Vancouver $1,410,500 259.5 0.3% -0.5% -1.3% -7.5% -8.9% 41.0% 82.7%
Bowen Island $973,700 211.1 -0.2% 2.4% -1.8% 0.6% 22.8% 65.4% 60.4%
Burnaby East $1,153,300 257.9 -0.6% -2.4% -1.7% -7.8% -2.3% 45.1% 82.3%
Burnaby North $1,366,200 264.2 1.6% -0.5% -1.9% -8.1% -11.8% 37.5% 84.4%
Burnaby South $1,473,100 282.0 1.0% -0.3% -3.8% -9.6% -11.1% 40.6% 98.5%
Coquitlam $1,151,200 255.5 -0.5% -1.5% -0.5% -8.1% -3.8% 50.2% 88.4%
Ladner $916,800 221.0 -2.1% -3.1% -4.7% -6.9% -11.5% 40.9% 65.0%
Maple Ridge $804,200 229.1 -0.5% -2.3% -1.4% -5.7% 12.5% 68.8% 79.3%
New Westminster $1,017,000 253.7 -0.9% -2.8% -3.5% -9.3% -1.5% 44.1% 77.7%
North Vancouver $1,465,700 230.8 0.2% -1.5% -3.0% -6.7% -11.7% 40.3% 70.5%
Pitt Meadows $881,900 248.5 0.8% -2.0% -1.7% -2.9% 11.3% 68.4% 85.2%
Port Coquitlam $914,700 243.9 0.7% -0.5% -0.2% -6.2% 3.9% 55.8% 79.3%
Port Moody $1,394,300 257.5 -1.0% -3.3% 2.1% -6.4% 1.2% 54.1% 90.9%
Richmond $1,501,600 290.9 1.7% 1.8% -1.9% -8.1% -12.3% 43.7% 91.8%
Squamish $986,600 260.0 1.2% 0.6% 2.2% 3.3% 21.7% 80.6% 100.0%
Sunshine Coast $598,300 209.6 0.6% 0.4% -2.1% 0.1% 23.7% 69.2% 59.6%
Tsawwassen $1,130,400 243.4 -0.4% -3.6% -4.3% -8.6% -9.8% 49.4% 81.8%
Vancouver East $1,360,500 302.6 0.1% 0.6% 0.3% -7.8% -10.1% 42.8% 104.6%
Vancouver West $2,912,000 298.6 0.6% 0.6% -1.2% -10.7% -18.2% 26.3% 87.1%
West Vancouver $2,523,300 238.2 0.1% -1.0% -2.2% -8.5% -22.9% 23.5% 77.8%
Whistler $1,659,200 230.8 0.9% 0.6% 6.0% 5.1% 19.8% 67.9% 75.8%
  Property Type   Area Benchmark Price Price Index 1 Month Change % 3 Month Change % 6 Month Change % 1 Year Change % 3 Year Change % 5 Year Change % 10 Year Change %
Townhouse Lower Mainland $662,500 238.7 -0.1% -0.3% -0.7% -5.1% 17.2% 61.3% 74.2%
Greater Vancouver $771,600 247.6 0.5% 0.2% -0.4% -5.8% 14.9% 56.8% 76.7%
Burnaby East $653,000 241.2 1.1% 0.7% -0.6% -8.3% 22.3% 51.7% 69.9%
Burnaby North $723,900 270.2 -0.8% 0.1% 2.1% -4.9% 20.9% 60.5% 86.7%
Burnaby South $776,600 267.5 2.6% 2.1% 1.1% -4.3% 19.4% 60.1% 84.1%
Coquitlam $648,600 238.0 -0.4% -0.7% -2.1% -4.8% 18.8% 57.9% 78.0%
Ladner $632,300 224.9 4.0% 0.2% -2.8% -13.1% 5.8% 36.6% 54.0%
Maple Ridge $528,800 245.5 1.2% 0.9% -2.5% -4.4% 26.2% 76.0% 80.6%
New Westminster $724,800 265.8 2.6% 1.5% -1.0% -6.8% 23.3% 56.5% 84.7%
North Vancouver $936,300 227.5 -0.1% -0.8% -1.1% -8.8% 10.2% 50.1% 67.5%
Pitt Meadows $597,900 258.7 0.4% -0.3% -0.9% -9.7% 26.0% 81.8% 94.4%
Port Coquitlam $621,800 235.4 -0.2% -1.6% 1.0% -3.8% 12.5% 60.4% 71.3%
Port Moody $620,200 209.6 -2.3% -5.6% -6.2% -8.4% 18.4% 43.6% 55.5%
Richmond $773,400 253.9 0.8% 0.3% -0.6% -9.2% 9.3% 50.7% 77.2%
Squamish $705,900 232.1 -2.0% 2.6% 4.4% -2.9% 23.1% 81.3% 94.4%
Tsawwassen $607,400 239.1 2.9% -1.0% -4.9% -13.6% 9.6% 42.5% 63.8%
Vancouver East $852,800 273.2 1.1% 0.6% -1.8% -1.9% 11.4% 53.9% 83.5%
Vancouver West $1,113,400 260.3 1.3% -0.1% 0.5% -4.1% 5.1% 50.7% 80.0%
Whistler $923,300 222.6 -2.6% 0.9% 3.1% -2.1% 31.1% 87.2% 86.4%
Apartment Lower Mainland $639,300 268.8 0.1% -0.4% -2.6% -5.8% 27.9% 72.5% 83.9%
Greater Vancouver $652,500 260.8 0.2% -0.1% -2.2% -5.9% 22.2% 65.3% 78.6%
Burnaby East $711,300 272.9 -0.4% -1.4% -5.8% -6.6% 20.1% 57.7% 79.9%
Burnaby North $590,300 252.0 -0.2% -3.2% -3.5% -6.5% 27.4% 70.5% 78.1%
Burnaby South $645,300 259.1 -1.4% -1.3% -5.0% -8.0% 21.7% 64.7% 80.6%
Coquitlam $517,000 283.7 -0.2% 0.1% 1.1% -2.3% 39.8% 88.1% 106.3%
Ladner $431,500 204.5 2.3% -0.3% -0.5% -7.2% 4.3% 37.4% 45.7%
Maple Ridge $350,400 250.2 0.6% 0.8% 0.5% -3.7% 39.3% 74.0% 73.4%
New Westminster $508,100 287.9 -0.6% -1.4% -3.3% -9.3% 32.5% 77.0% 94.9%
North Vancouver $554,100 226.0 1.4% -0.1% -1.7% -5.0% 20.8% 54.4% 62.8%
Pitt Meadows $490,600 289.3 0.7% 0.4% 0.1% -4.7% 38.2% 80.5% 100.5%
Port Coquitlam $437,400 261.6 0.9% -1.9% -4.1% -4.5% 33.6% 85.5% 80.7%
Port Moody $630,600 262.8 0.6% 0.3% -0.4% -4.3% 32.2% 88.3% 97.7%
Richmond $625,500 267.8 -0.3% 0.5% -2.2% -6.2% 29.5% 73.3% 80.9%
Squamish $511,400 252.1 4.0% 6.9% -1.3% 4.5% 32.1% 107.8% 105.6%
Tsawwassen $462,700 195.1 2.7% 0.9% -1.5% -6.9% 8.3% 42.8% 39.0%
Vancouver East $552,000 315.0 0.7% 0.3% -4.4% -5.9% 19.2% 70.4% 87.4%
Vancouver West $754,100 244.7 -0.1% 0.2% -1.4% -6.9% 9.8% 50.5% 67.9%
West Vancouver $1,048,800 213.1 2.7% -3.4% -2.0% -9.2% 11.3% 48.5% 54.3%
Whistler $503,700 197.3 2.3% 5.8% 1.2% 5.1% 33.3% 99.9% 60.9%

HOW TO READ THE TABLE:

 
  • Benchmark Price: Estimated sale price of a benchmark Benchmarks represent a typical property within each market.
 
  • Price Index: Index numbers estimate the percentage change in price on typical and constant quality properties over All figures are based on past sales.
 
  • x Month/Year Change %: Percentage change of index over a period of x month(s)/year(s)
In January 2005, the indexes are set to 100.                                                                                                                                                                                                                                                                                                                                                       * Townhome properties are similar to attached properties, a category that was used in the previous MLSLink HPI, but do not included duplexes. Lower Mainland includes areas serviced by both Real Estate Board of Greater Vancouver & Fraser Valley Real Estate Board. The above info is deemed reliable, but is not guaranteed. All dollar amounts in CDN.
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