Vancouver West Townhomes 17 7
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release describes the Metro Vancouver July Real Estate Market as having reached a typical summer level, almost at par with the 10 year average for the month. Buyers however are enjoying the most selection of any time so far in 2017. Strata properties on average are selling in half the time of houses so although in general there is not yet evidence we have reached a point where downward pressure is expected on prices, on its own the single detached property is getting close. In July 2017 total residential sales drop 8.2 percent from the previous July. Year to year new listings are 0.3 percent higher and the total inventory of listed properties is up by 10.1 percent. July to July the composite value of all Metro Vancouver properties is up 8.7 percent.
The graph illustrates a decrease of 1.2 percent for the average attached unit price in Metro Vancouver this July compared to June. Last month compared to July 2016 the benchmark townhouse price increases 11.9 percent. Year to year the volume of townhome sales goes down 0.7 percent.
Last month versus July 2016 Vancouver west townhouse prices increase by 9.5 percent. This July compared to last July attached unit sales drop by 15.9 percent. Year to year inventory is 26.7 percent higher.
From June to July west side attached sales decline 27.5 percent. Month to month Vancouver west attached inventory decreases 11.4 percent.