Vancouver West House Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release quotes “homebuyer activity is operating above our long term averages” as Metro Vancouver Real Estate exceeds the 10 year sales average for November by 17 percent. The apartment and attached sectors continue to be the darlings of the industry while the sales-to-active listings ratio for detached properties suggests a levelling on that front. November 2017 total residential sales increase 26.2 percent from last November. Year to year new listings are 30.6 percent higher while total inventory of listed properties inches up 4.3 percent November to November. The composite value of all Metro Vancouver properties is up 14 percent last month compared to November 2016.
The graph exhibits a dip for the average price of Metro Vancouver detached properties with a 3.8 percent decrease from October to November. The benchmark price for detached houses last month compared to November 2016 is up 6.1 percent. The volume of house sales is up 31.8 percent year to year.
Last month compared to November 2016 Vancouver west detached prices are 1.5 percent higher. November to November west side house sales rise 22 percent. Year to year inventory increases 22.1 percent.
October to November sales of west side houses abate with a 23.1 percent decline. Month to month detached inventory drops 32.3 percent.