Vancouver west detached market
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release trumpets 2015 as history’s highest for home sales despite chronic low inventory.
December 2015 compared to the previous December residential sales increase 33.6 percent. The inventory of new listings last month is 7 percent higher than December 2014 but an indication that demand is not being met is the total supply of listed properties being down by 41.6 percent year to year. Composite value is up 18.9 percent December to December.
The graph shows an increase in the average price of Greater Vancouver detached properties of 4.3 percent from November to December. The benchmark price for detached houses last month compared to December 2014 is up 24.3 percent. The volume of house sales increases by 36.4 percent year to year.
This December compared to December 2014 Vancouver west detached prices are 24 percent higher. Year to year west side detached sales increase a healthy 34.3 percent. December to December inventory rises 3 percent.
November to December sales of west side houses decrease by 19.4 percent. Month to month detached inventory is down significantly by 41.5 percent.