Vancouver West Houses
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release points to recent legislation enacted by various levels of government compounded by a market already in flux as precipitators of a marked hesitation now among Real Estate Buyers and Sellers. Metro Vancouver residential sales drop 38.8 percent last month compared to October of 2015. New listings of all property types are down 3.5 percent year to year while the total inventory of listed properties is down by 4.5 percent October to October. Regardless of flagging sales the composite value of all properties is up 24.8 percent year to year.
Despite Greater Vancouver detached properties seeing the largest reduction in demand the graph shows the average price up from September to October by 4.3 percent. The benchmark price for detached houses last month compared to October 2015 is up 28.9 percent. The volume of house sales is down 54.6 percent year to year.
Last month versus October 2015 Vancouver west detached prices are 28.7 percent higher. Year to year west side detached sales freefall 52.1 percent. October to October inventory is down by 24.2 percent.
September to October sales of west side houses go way up, increasing by 30 percent. This even while month to month detached inventory posts a 34.8 percent decrease.