Vamcouver east detached 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 average price of Greater Vancouver detached properties recede by 2.7 percent from June to July. The benchmark price for detached houses last month compared to July 2014 is up 16.2 percent. The volume of house sales rises by 17.9 percent year to year.
East side detached house prices record a 19.9 percent increase in July 2015 compared to the previous July. Year to year Vancouver east sales are down by 12.3 percent. From July to July Vancouver east inventory falls down 5.5 percent.
June 2015 versus last month east side house sales backslide, declining 32.6 percent. Month to month inventory dips 6.6 percent.