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Blog by Don Kennedy

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Vancouver West Townhomes

2016 December Statistics

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

 

The News Release points out that 2016 was Metro Vancouver’s third highest for annual sales of Real Estate despite a slowdown in the latter potion of the year. Whether that pullback was the result of government tinkering or from supply catching up with demand will not be confirmed for some time. Comparing 2016 to 2015 (one of the other top 3 years) total sales are down 5.6 percent.

 

Last month compared to December of 2015 composite value of all Metro Vancouver properties is up 17.8 percent. Residential sales drop 39.4 percent year to year. New listings of all property types are down 35.1 percent December to December while the total inventory of listed properties is up by 5.3 percent annually.

 

The graph indicates that the average price of attached units in Metro Vancouver is down 1.3 percent in December compared to November. Last month compared to December 2015 the benchmark price for a townhouse rises 20.4 percent. Attached unit sales year to year register a 44.6 percent decline.

 

Last month versus December 2015 Vancouver west townhouse prices increase by 18.3 percent. December 2016 compared to the previous December attached unit sales drop by 51 percent. Year to year inventory is 40 percent lower.

 

From November to December 2016 west side attached sales decrease by 47.7 percent. Month to month Vancouver west attached inventory sees a large drop of 68.4 percent.

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