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Blog by Don Kennedy

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Vancouver West Houses 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 shows that the average price for Metro Vancouver detached properties adjusts downward by 5.1 percent from July to August. The benchmark price for detached houses last month compared to August 2016 is up 2.2 percent. The volume of house sales is up 26 percent year to year.


Last month versus August 2016 Vancouver west detached prices are 1 percent higher. Year to year west side house sales are down by 14.7 percent. August to August inventory increases 4.8 percent.


July to August sales of west side houses are down by 29.7 percent. Month to month detached inventory declines 18 percent.