Vancouver west detached analysis
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release reports that for most of the year sales of residential homes trended well over the ten year sales average. Compounded by supply not rising to meet demand, this is forcing prices up with detached houses continuing to feel the effects most. Last month compared to September 2014 residential sales increase 14.5 percent. The inventory of new listings in September 2015 is 7.9 percent lower than the previous September and the total supply of listed properties is down by 27 percent year to year. Composite value is up 13.7 percent September to September.
The graph shows a reversal in the average price of Greater Vancouver detached properties through a 4.4 percent drop from August to September. The benchmark price for detached houses last month compared to September 2014 is up 18.9 percent. The volume of house sales increases by a marginal 0.2 percent year to year.
This September compared to September 2014 Vancouver west detached prices are 19.2 percent higher. Year to year west side detached sales backtrack and drop 26.9 percent. September to September inventory is down minutely by 0.7 percent.
August to September sales of west side houses are down by 15.5 percent. Inventory shows a significant 42.4 percent increase between those two months.