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Blog by Don Kennedy

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Vancouver west condo market

December 15 stats

Attached please find the latest statistics from the Greater Vancouver Real Estate Board.

 

The News Release trumpets 2015 as history’s highest for home sales despite chronic low inventory.

 

December 2015 compared to the previous December residential sales increase 33.6 percent. The inventory of new listings last month is 7 percent higher than December 2014 but an indication that demand is not being met is the total supply of listed properties being down by 41.6 percent year to year. Composite value is up 18.9 percent December to December.

 

The graph indicates a stall from November to December in the Greater Vancouver average monthly condominium sale prices which creep down 0.4 percent. Year to year the overall benchmark price for apartments is up 14 percent. The volume of condo sales last month compared to December 2014 rises 34.3 percent.

 

Last December compared to December 2015 the benchmark price for west side apartments is 18.1 percent higher. Vancouver west condo sales increase by 22.6 percent year to year. December to December inventory of west side condos is up 1.7 percent.

 

 From November to December Vancouver west apartment sales tumble, dropping 27.7 percent. West side inventory may be the reason as month to month it’s down 43.7 percent.

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