VANCOUVER WEST SEPTEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release laments that the summer Real Estate doldrums are spilling over into fall. The supply of housing has reached a level not seen since 2014 as low Buyer demand has precipitated a backlog of inventory. Detached houses clearly no longer enjoy their long standing Sellers market while the apartment and townhouse markets are now in balance. Last month total residential sales are down 43.5 percent compared to September 2017. September to September new listings decrease 1.8 percent while the total inventory of listed properties is up 38.2 percent year to year. Last month the composite value of all Metro Vancouver properties increases 2.2 percent over the previous September.
The graph shows the average price of Metro Vancouver detached properties ticking up slightly by 0.4 percent from August to September. The benchmark price for houses last month compared to September 2017 is 4.5 percent lower. The volume of house sales is down year to year by 40.4 percent
Last month versus September 2017 Vancouver west detached prices are 10.9 percent lower. Year to year west side house sales are down by 47.9 percent. September to September inventory falls 35.4 percent.
August to September this year sales of west side houses recede 34.5 percent. Month to month detached inventory rises 26.3 percent.