Vancouver East Houses 17 5
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release indicates that last month home sales stretched up to near record levels due to high demand by local buyers for apartments and townhomes. Those sales exceeded the 10 year average for the month of May by 23.7 percent. Residential sales drop 8.5 percent year to year which is a much smaller margin than any month so far in 2017. New listings last month are 3.9 percent lower than May 2016. The total inventory of listed properties is up by 5.7 percent annually. May to May the composite value of all Metro Vancouver properties is up 8.8 percent.
The graph illustrates that the average price for Metro Vancouver detached properties gets a 3.6 percent uptick from April to May. The benchmark price for detached houses last month compared to May 2016 is up 3.1 percent. The volume of house sales is down 17 percent year to year.
East side house prices this May record a 3.9 percent increase over May 2016. Year to year Vancouver east detached sales drop 7.8 percent. May to May inventory is 10.9 percent lower.
April to May east side house sales swing positive with a 29.3 percent increase. Month to month inventory rises 18.2 percent.