Vancouver East December Townhome Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release labels 2017 Real Estate activity as closer to historic norms when contrasted with the heated pace seen in 2016 and 2015. While sales last year ranked third in averages over the past 10 years [thanks mostly to condos and townhouses], in 2016 they were 9.9 percent higher. Year over year benchmark prices were 15.9 percent higher even while properties listed fell 5.1 percent. New mortgage rules and interest rates poised to rise make 2018 predictions a tough call.
Last month Metro Vancouver Real Estate surpassed the 10 year sales average for December by 7.5 percent. Total residential sales increase 17.6 percent compared to December 2016. Year to year new listings are 44.1 percent higher while total inventory of listed properties is up 9.7 percent. The composite value of all Metro Vancouver properties increases 15.9 percent December 2017 over December 2016.
The graph records a decrease of 2.4 percent for the average attached unit price for Metro Vancouver in December compared to November. Last month compared to December 2016 the benchmark townhouse price increases 18.5 percent. Year to year the volume of townhome sales is up by 43.8 percent.
Last month versus December 2016 Vancouver east townhouse prices increase 25.4 percent. Year to year attached unit sales are 32 percent higher. December inventory is 26.3 percent larger than December 2016.
East side attached sales drop by a 35.3 percent inversion from November to December. Month to month Vancouver east attached inventory caves in 71.8 percent.