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Blog by Don Kennedy

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Vancouver West October Townhome Market

Stats 17 11.pdf
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.

The News Release headlines the continuing Metro Vancouver Real Estate trend of exceeding 10 year sales averages as last month transcends that of October by 15 percent. Robust activity in the apartment and attached sectors (due in part to the upcoming tightening of mortgage qualification) is behind most of the surge but with the sales-to-active listings ratio for detached properties now at 16.8 percent it suggests a rebound from the slide over the summer to that 12 percent threshold which triggers downward pressure on value. October 2017 total residential sales increase 35.3 percent from last October. Year to year new listings are 14 percent higher however total inventory of listed properties dips 0.1 percent October to October. The composite value of all Metro Vancouver properties is up 12.4 percent last month compared to October 2016.

The graph records a marginal increase of 0.7 percent for the average attached unit price in Metro Vancouver this October compared to September. Last month compared to October 2016 the benchmark townhouse increases in price 17.7 percent. Year to year the volume of townhome sales is up 36.5 percent.
Last month versus October 2016 Vancouver west townhouse prices rise by 11.1 percent. This October compared to last October attached unit sales increase by a robust 80 percent. Year to year inventory is 8.8 percent higher.

From September to October west side attached sales decline 15.6 percent. Month to month Vancouver west attached inventory is reduced 3.9 percent.