Vancouver West Houses
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release resolves that while prices for townhomes and apartments remain stable, detached homes are seeing modest declines month to month due to lower demand relative to supply. However the sales-to-listings percentage has not yet reached that critical point which would traditionally trigger downward pressure on prices. Whatever inference we can draw from this the fact is that composite value of all properties is up 20.5 percent year to year. Metro Vancouver residential sales drop 37.2 percent last month compared to November of 2015. New listings of all property types are down 7.2 percent year to year while the total inventory of listed properties is up by 3.6 percent November to November.
The graph shows the average price for Greater Vancouver detached properties continuing to move up from October to November if only by 0.85 percent. The benchmark price for detached houses last month compared to November 2015 is up 23 percent. The volume of house sales is down 52.2 percent year to year.
Last month versus November 2015 Vancouver west detached prices are 22.9 percent higher. Year to year west side detached sales fall by a dramatic 58.8 percent. November to November inventory is down by 26.5 percent.
October to November sales of west side houses retreat via a 12.8 percent decline. Month to month detached inventory decreases 25.2 percent.