VANCOUVER EAST OCTOBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release credits receding prices and low interest rates for a boost in buyer confidence. As a result October recorded sales above its 10 year month’s average for the first month in 2019. The sales-to-listings ratio suggests that even detached houses are being distanced from the danger zone. Last month residential detached, attached and apartment sales increase 45.4 percent compared to October 2018. Year to year the total inventory of listed properties dips 5.8 percent while new listings are down 16.4 percent in that same time period. October to October the composite value of all Metro Vancouver properties is down 6.4 percent.
The graph elevates the average price for Metro Vancouver detached properties in October by 1.4 percent from September. The benchmark price for detached homes last month compared to October 2018 is down 7.5 percent. The volume of house sales is 47.3 percent higher year to year.
East side house prices year over year are down 7.8 percent. Last month versus October 2018 Vancouver east detached sales are up 35 percent. October to October inventory drops 27 percent.
September to October east side house sales show a minor 0.9 percent reduction. Month to month east side inventory is down 17.2 percent.