VANCOUVER WEST SEPTEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reiterates that upward pressure on prices continues unabated due to the lingering insufficient supply. Although this September’s sales are 20.8 percent above the 10-year average for the month, they are still 13.6 percent under those of September 2020. Meanwhile new listings are down 19.2 percent year to year while the total inventory of listed properties falls 29.5 percent September to September. With a lower supply, prices are rising as last month the annual composite value of all properties is 13.8 percent higher.
The graph shows a dip of 2 percent from August to September in the average price for detached properties. The benchmark price for detached homes this September is 20.4 percent higher than last September. The volume of house sales drops 27.9 percent year to year.
Last month versus the previous September, Vancouver west detached prices increase 13.3 percent. Year to year west side house sales are down 21.1 percent. September 2021 inventory is up by 5.8 percent compared to the previous September.
From August to September west side house sales get a 9.3 percent lift. Month to month detached inventory is 20.9 percent higher.