VANCOUVER WEST MARCH HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release harkens all the way back to 1986 before finding a March in Vancouver with matching low sales numbers. The growing economy and low unemployment fuel demand for housing but willing Buyers are stymied by policy introduced from every level of government that is both longstanding and accumulating. Last month total Metro Vancouver residential sales diminish 31.4 percent compared to March 2018. New listings are up 11.2 percent year to year while the total inventory of listed properties increases 52.4 percent in that same time period. The composite value of all Metro Vancouver properties declines 7.7 percent March 2019 versus March 2018.
The graph shows the average price for Metro Vancouver detached properties climbing a healthy 10.4 percent from February to March. The benchmark price for detached homes last month compared to March 2018 is down 10.5 percent. The volume of house sales is 26.7 percent lower year to year.
Last month versus March 2018 Vancouver west detached prices are 12.3 percent lower. March to March west side house sales surprisingly are up by 20.7 percent. Year to year inventory declines 18.2 percent.
February to March sales of west side houses increase for the third month in a row, this time by 48.8 percent. Month to month detached inventory is at par.