VANCOUVER EAST JUNE HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release attributes this year’s continued rise of benchmark prices for all residential housing in the face of higher interest rates, to low supply not meeting the demands of a growing population seeking home ownership. Apartment properties are doing particularly well, rising above their 10 year average for June yet when combined with other segments, this June is below its overall 10 year sales average. Newly listed properties last month are 1.3 percent better than June of 2022 but total inventory of listed properties is down 7.9 percent year to year. Sales of all residential properties in Metro Vancouver this June rise 21.1 percent compared to last June. The composite value of all properties is 2.4 percent lower year to year.
From May to June the graph shows the average Metro Vancouver price for detached properties down by a slight 0.8 percent. The benchmark price for houses in June 2023 is 3.2 percent less than the previous June. Year to year the volume of detached home sales rises 28.3 percent.
This June versus the previous June, east side house prices are 1.5 percent lower. Year over year Vancouver east detached sales are up 24.7 percent. From June to June east side inventory is 3.4 percent lower.
From May to June east side house sales fall 23.2 percent. Month to month, east side inventory is down 3.4 percent.