Marpole Neighbourhood Activity Report

Marpole is a well-established residential neighbourhood on Vancouver’s West Side, benefitting from good transit access (SkyTrain, bus routes), schools, and a mix of single-family homes and mid-rise condo developments.
In November, Marpole had:   

• 30 new listings (-6.3 % year-over-year), 6 detached new listings;

• 14 sold listings (-66.7 % year-over-year), 1 detached sold;

• Active listings: 153 (-15 % year-over-year), 42 detached listings;

• Sale-to-list price ratio at 92.5 % (-15 % year-over-year)

• Median Days on Market is 46 (+119% year-over-year)

• MLS HPI Price is at 1,14million (-8.7% year-over-year)

Interpretation: Inventory has reduced compared with the same period last year (which could help sellers), but sales have fallen significantly from a year ago. And it certainly takes longer for sellers to sell.

With only 14 homes sold in November, the number of transactions in November is quite low, indicating relatively low turnover in the neighbourhood considering total inventory of 153. The November sales-to-active ratio is at 11.1%. Typically, when sales-to-active ratio is dipping below 12 %, it can be the signal as a trigger for possible further price declines. With only 1 detached home sold, it may suggest that Buyers are shifting to attached and condo segments, which are relatively more affordable. It represents opportunities for Buyers to snap some good deals in coming months, especially in the detached home segment.

Sold listings in November