Vancouver West Houses
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release tells us that whatever the future influence of recent Provincial and now Federal legislation enacted to mitigate overheating in key Canadian markets, the intrinsic contraction of the market that dominated the summer in Greater Vancouver has spilled over into the first part of the fall. Metro Vancouver residential sales drop 32.6 percent last month compared to September of 2015 (a month that had witnessed significant annual growth). New listings of all property types are now in minus territory, down 1 percent year to year while the total inventory of listed properties is down by 13.4 percent September to September. However decreased sales have yet to influence prices as composite value is up 28.9 percent year to year.
The graph shows the average price for Greater Vancouver detached properties rebounding from August to September, up 4.2 percent. The benchmark price for detached houses last month compared to September 2015 is up 33.7 percent. House sales volume is down 47.6 percent year to year.
Last month versus September 2015 Vancouver west detached prices are 32.1 percent higher. Year to year west side detached sales sag 52 percent. Inventory declines 19 percent September to September.
August to September sales of west side houses go down 1.6 percent. Month to month detached inventory escalates, posting a 33.7 percent increase.