Vancouver East Townhomes 1 2017
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 indicates that the average price of attached units in Metro Vancouver is down 1.6 percent in January compared to December 2016. Last month compared to January 2016 the benchmark price for a townhouse increases 19.9 percent. Attached unit sales year to year register a 32.4 percent decline.
Last month versus January 2016 Vancouver east townhouse prices increase 11.8 percent. Year to year attached unit sales are lower by 40 percent. January inventory this year is at par with last January.
From December to January east side attached sales are down 52 percent. Month to month Vancouver east attached inventory regroups significantly, up 115.8 percent.