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Blog by Don Kennedy

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Vancouver East Apartments 1 2017

2017 January statistics

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

 

The News Release alerts us to a marked reduction last month in Real Estate activity, mostly with detached houses, that puts Metro Vancouver 10.3 percent below its10 year sales average for the month of January. While it is hard to quantify the cooling effect (literally and figuratively) from half of the month spent under an abnormal blanket of snow and ice, the bearish market that ushered out 2016 has clearly spilled over to start the new year.

 

Last month compared to January of 2016 composite value of all Metro Vancouver properties is up 15.6 percent. Residential sales drop 39.5 percent year to year. New listings of all property types are down 6.8 percent January to January while the total inventory of listed properties is up by 9.1 percent annually.

 

The graph records a one percent decrease from December to January in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 15.6 percent. The volume of condo sales last month compared to January 2016 is down 24.7 percent.

 

Vancouver east apartment prices in January 2017 versus the previous January are up by 17.4 percent. East side apartment sales last month are 14.7 percent below January 2016. Year to year east side condo inventory is up 10 percent.

 

Last month versus December 2016 east side apartment sales decline 20.2 percent. Month to month Vancouver east inventory charges into the positive, up 200 percent.

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