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Vancouver East Houses 3 17

Stats 17 4.pdf

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

 

The News Release presents a reversion to above average sales for the month of March and forecasts price softening as unlikely since the Metro Vancouver demand remains greater than the housing supply. Homeowners are displaying a great reluctance to sell, particularly in the condo and townhouse markets. New listings last month have not been so low since 2009 and are 29.1 percent lower than March 2016. The total inventory of listed properties is up by 3.1 percent annually. Year to Year the composite value of all Metro Vancouver properties is up 12.7 percent. Residential sales drop 30.8 percent year to year.

 

The graph shows the average price for Metro Vancouver detached properties pulling back a bit, declining 2.5 percent from February to March. The benchmark price for detached houses last month compared to March 2016 is up 10.9 percent. The volume of house sales is down 46.1 percent year to year.

 

East side house prices this March record a 12.7 percent increase over March 2016. Year to year Vancouver east detached sales drop 25.1 percent. March to March inventory is 15.3 percent lower.

 

March to February east side house sales remain strong with an 89 percent increase. Month to month inventory sees a 43.9 percent addition.

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