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Blog by Don Kennedy

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Vancouver West Condos 17 7

July Statistics

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


The News Release describes the Metro Vancouver July Real Estate Market as having reached a typical summer level, almost at par with the 10 year average for the month.  Buyers however are enjoying the most selection of any time so far in 2017. Strata properties on average are selling in half the time of houses so although in general there is not yet evidence we have reached a point where downward pressure is expected on prices, on its own the single detached property is getting close. In July 2017 total residential sales drop 8.2 percent from the previous July. Year to year new listings are 0.3 percent higher and the total inventory of listed properties is up by 10.1 percent. July to July the composite value of all Metro Vancouver properties is up 8.7 percent.


The graph records a positive turnaround from June to July of 1.3 percent in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 18.5 percent. The volume of condo sales last month compared to July 2016 declines 8.4 percent.


The benchmark price for west side apartments July to July is 11.7 percent higher. Vancouver west condo sales decrease by 8.5 percent year to year. This July compared to July 2016 west side apartment inventory is down 2.7 percent.


Month to month Vancouver west apartment sales drop 13.5 percent. West side condo inventory July versus June is 1.9 percent higher.