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Blog by Don Kennedy

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Vancouver West Townhomes 17 6

June Statistics

Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.


The News Release tells a tale of two titles as strata properties dominate while single detached properties see an easing in demand.  While the sales-to-active listings ratio for single-family homes is nowhere near the threshold triggering downward pressure on value, demand is not being met for condominiums in particular causing multiple offers that are inflating average prices for that sector. Overall sales exceeded the 10 year average for the month of June by 14.5 percent however in June 2017 residential sales drop 11.5 percent from the all time record set in the previous June. The total inventory of listed properties is up by 9 percent annually but year to year new listings are 2.6 percent lower. June to June the composite value of all Metro Vancouver properties is up 7.9 percent.


The graph records a modest increase of 0.3 percent for the average attached unit price in Metro Vancouver this June compared to May. Last month compared to June 2016 the benchmark townhouse price increases 10.7 percent. Year to year the volume of townhome sales goes down 8.5 percent.


Last month versus June 2016 Vancouver west townhouse prices increase by 5.8 percent. This June compared to last June attached unit sales drop by 14.8 percent. Year to year inventory is 8.8 percent higher.


From May to June west side attached sales regress, falling 13.8 percent. Month to month Vancouver west attached inventory increases 9.8 percent.