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Blog by Don Kennedy

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Vancouver West Houses 17 5

May Statistics

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


The News Release indicates that last month home sales stretched up to near record levels due to high demand by local buyers for apartments and townhomes. Those sales exceeded the 10 year average for the month of May by 23.7 percent. Residential sales drop 8.5 percent year to year which is a much smaller margin than any month so far in 2017. New listings last month are 3.9 percent lower than May 2016. The total inventory of listed properties is up by 5.7 percent annually. May to May the composite value of all Metro Vancouver properties is up 8.8 percent.


The graph illustrates that the average price for Metro Vancouver detached properties gets a 3.6 percent uptick from April to May. The benchmark price for detached houses last month compared to May 2016 is up 3.1 percent. The volume of house sales is down 17 percent year to year.


Last month versus May 2016 Vancouver west detached prices are 4.2 percent higher. Year to year west side house sales edge down 2 percent. May to May inventory is 7.9 percent lower.


April to May sales of west side houses head skyward, up by 71.9 percent. Month to month detached inventory increases 15.8 percent.