As summer draws to an end, the Bowen Island market continues to show signs that it is stabilizing. Comparing year-over-year, many of the indicators in August 2019 are up over July 2019, including Average Price per Square Foot, Sale Price as a Per Cent of Original Price, Median Price, Average Price, and MLS® Home Price Index. The year-over-year Average Sales price was up +4.4 per cent from June 2019 to July 2019 and up +2.6 per cent from July 2019 to August 2019.
Comparing the month of August 2018 to the August 2019, the Average Price was up 21.4 per cent; however, comparing year-over-year (12 months from September 2018 through August 2018), the Average Price was down -7.0 per cent and year-to-date was down -10.0 per cent. The market still lags well behind 2018 for dollar volume and total number of sales, with dollar volume YoY at October 2014 levels and number of sales at September 2012 levels.
The Bowen Island market continues to be more resilient than our Metro Vancouver neighbours. Our YoY decline in the MLS®HPI at less than 1 per cent per cent was the lowest followed by Pitt Meadows at -2.0 per cent. During the same
period, West Vancouver experienced the highest YoY decline at -15.4 per cent.
period, West Vancouver experienced the highest YoY decline at -15.4 per cent.
Bowen Island real estate has also held its value over the last 2 years. The YoY MLS® HPI was up 14.5 per cent from 2017 followed by Pitt Meadows at 11.9 per cent, while White Rock, Burnaby, North Vancouver, Richmond, Vancouver, and West Vancouver losses ranged from -5.6 per cent to -15.4 per cent over the same period.
BOWEN ISLAND YOY STATS
@31 August 2019
MLS®HPI: $954,800
Median Price: $965,000
Average Price: $1,040,338
@31 July 2019
MLS®HPI: $950,600
Median Price: $940,000
Average Price: $1,022,333
@31 August 2019
MLS®HPI: $954,800
Median Price: $965,000
Average Price: $1,040,338
@31 July 2019
MLS®HPI: $950,600
Median Price: $940,000
Average Price: $1,022,333
STATS ON BOWEN is a detailed analysis published monthly once all data for the month has been reported.
For example, the January report would be published during the last week of February.
For example, the January report would be published during the last week of February.
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