Vancouver west houses
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release points to motivated Buyers as the reason for brisk home sales that dramatically exceed the ten year February average for Greater Vancouver. Residential sales increase 21 percent last month versus the previous February. Composite value for regional homes is up 6.5 percent February to February. The inventory of new listings expands by 15.4 percent in February 2015 compared to the previous February but that selection disappears quickly as the total supply of listed properties drops 11.3 percent year to year.
The graph shows a sharp rebound in the average price of Greater Vancouver detached houses which are now up 7.2 percent from January to February. There is a 9.7 percent increase in the benchmark price for detached properties last month compared to February 2014. The volume of house sales increases 25.6 percent year to year.
This February compared to February 2014 Vancouver west detached prices are 12 percent higher. However last month year to year west side detached sales remain soft by again dipping, this time by 3.5 percent. February to February inventory is up 44.2 percent.
The January to February activity is much more robust as sales of west side houses register a 66 percent increase. Between those same months inventory is up by 45.3 percent.