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Blog by Don Kennedy

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Vancouver West Townhomes

16 9 statistics

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

 

The News Release notes that it’s still too soon to verify any effect on the Greater Vancouver Real Estate market attributable to the new 15 percent Foreign Buyers Property Transfer Tax. However the traditional holiday lethargy that skipped the summer of 2015 held on last month. Not only that but for the first time in 2016, last month did not exceed the 10 year average for its month. Metro Vancouver residential sales drop 26 percent last month compared to the extraordinarily active August of 2015. New listings of all property types increase a minimal 0.3 percent year to year but the total inventory of listed properties is down by 21.9 percent August to August. Composite value is up 31.4 percent year to year.

 

The graph shows the average price of attached units in Greater Vancouver drooping 8.5 percent in August compared to July. Last month compared to August 2015 the benchmark price for a townhome rises 31.1 percent. Attached unit sales year to year register a 25.4 percent decline.

 

Last month versus August 2015 Vancouver west townhouse prices increase by 36.5 percent. In August 2016 attached unit sales are 35.5 percent below the previous August. Year to year inventory is 16.3 percent lower.

 

From July to August west side attached sales show a 16.6 percent decrease. Month to month Vancouver west attached inventory falls 16.3 percent.

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