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Blog by Don Kennedy

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Vancouver west houses January

January statistics

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

January 2016 notes no let up in the record level of Buyer activity for Metro Vancouver. But that demand is frustrated by a short supply so pressure on prices remains unrelenting. Last month compared to the previous January residential sales are up 31.7 percent. The inventory of new listings last month is 6.2 percent lower than January 2015 and the total supply of listed properties is down by 38.6 percent year to year. Composite value is up 20.6 percent January to January.

The graph shows a jaw dropping increase in the average price for Greater Vancouver detached properties of 10.9 percent from December to January. The benchmark price for detached houses last month compared to January 2015 is up 25.9 percent. The volume of house sales increases by 34.1 percent year to year.

Comparing January 2016 to January 2015 Vancouver west detached prices are 24.6 percent higher. Year to year west side detached sales increase 34 percent. January to January inventory rises 16.5 percent.

December to January sales of west side houses edge positive by a 0.8 percent increase. Month to month detached inventory turns around significantly, ballooning by 234 percent.