Vancouver west attached analysis
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release continues the onward and upward Real Estate story we have heard all year. High demand from confident consumers taking advantage of low interest rates persistently outpaces the supply of detached homes in Greater Vancouver. The resultant competition is causing upward pressure on prices. Composite value is up 11.2 percent July to July. Last month compared to July 2014 residential sales increase 30 percent. The inventory of new listings In July 2015 is 3.8 percent higher than the previous July but this proves insufficient to fill the void as the total supply of listed properties declines by 26.3 percent year to year.
The graph shows the monthly average price of attached units in Greater Vancouver marginally improves with an increase of 0.06 percent from June to July. Last month compared to July 2014 benchmark prices for townhomes rise 7.8 percent. Attached unit sales increase year to year by 30.9 percent.
Last month versus July 2014 Vancouver west townhouse prices increase by 6.6 percent. July 2015 compared to the previous July attached unit sales register an 11.7 percent increase. Year to year inventory is down 25 percent.
From June to July west side attached sales continue a downward spiral dropping 13.6 percent. Month to month Vancouver west inventory is reduced by 17.9 percent.