Vancouver East Houses
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release points out that 2016 was Metro Vancouver’s third highest for annual sales of Real Estate despite a slowdown in the latter potion of the year. Whether that pullback was the result of government tinkering or from supply catching up with demand will not be confirmed for some time. Comparing 2016 to 2015 (one of the other top 3 years) total sales are down 5.6 percent.
Last month compared to December of 2015 composite value of all Metro Vancouver properties is up 17.8 percent. Residential sales drop 39.4 percent year to year. New listings of all property types are down 35.1 percent December to December while the total inventory of listed properties is up by 5.3 percent annually.
The graph shows the average price for Metro Vancouver detached properties continuing to move up from November to December by 3.9 percent. The benchmark price for detached houses last month compared to December 2016 is up 18.6 percent. The volume of house sales is down 52.4 percent year to year.
East side detached house prices in December record an 18 percent increase over December 2015. Year to year Vancouver east house sales continue to fall, down 48.3 percent. December to December inventory is 18 percent lower.
Last month compared to November 2016 east side house sales go negative via an 18.2 percent drop. Month to month inventory is down a substantial 59.4 percent.