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Blog by Don Kennedy

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Vancouver West Condos 17 8

August Stats

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


The News Release records August as above the 10 year average for Real Estate sales in Metro Vancouver. However drilling down we see that detached houses are in a ‘balanced’ phase and it is strata properties actually bolstering the numbers thanks to first time Buyers. Still last month for the first time in 2017 year to year sales are positive in all sectors where up until May those numbers were half of the corresponding month in 2016. In August 2017 total residential sales increase 22.3 percent from the previous August. Year to year total inventory of listed properties is up by 3.5 percent but new listings are 1.1 percent lower. August to August the composite value of all Metro Vancouver properties is up 9.4 percent.


The graph registers a slight dip of 0.3 percent from July to August in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 19.4 percent. The volume of condo sales last month compared to August 2016 jumps up 20.1 percent.


The benchmark price for west side apartments August to August is 13 percent higher. Vancouver west condo sales increase by 18.7 percent year to year. This August compared to last August west side apartment inventory is up 8.7 percent.


Month to month Vancouver west apartment sales inch 2 percent into the positive. August versus July west side condo inventory is 24.4 percent higher.