VANCOUVER EAST NOVEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release starts to answer questions of whether the October surge in sales represents a trend or a one off. It turns out last month was not unique, as November recorded a 28.1 percent boost for residential sales compared to November 2023. The year to year composite value of all properties is 0.9 percent lower and so far inventory has kept prices steady, but a dip in available listings could renew upward pressure on them. November to November newly listed properties are up 10.6 percent. The total inventory is now 21.2 percent higher than November 2023.
The graph shows a 4.7 percent uptick from October to November for the average price of Metro Vancouver detached properties. The benchmark price for houses in November 2024 is one percent above the previous November. Year to year the volume of detached home sales rises 19.7 percent.
November 2024 versus the previous November, east side house prices are 0.1 percent higher. Year over year Vancouver east detached sales increase 28.8 percent. November to November east side inventory is up 29.5 percent.
From October to November east side house sales dip 5 percent. Month to month east side inventory declines 30 percent.