VANCOUVER WEST JULY HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release trumpets Metro Vancouver Real Estate activity exceeding the 10 year July average by 9.4 percent and attributes the buoyant market to low interest rates, exciting demand that is being met by a tight supply. Compared to July 2019, this July the composite value of all properties is up 4.5 percent. July to July residential detached, attached and apartment sales increase 22.3 percent. While the year to year total inventory of listed properties declines 15.1 percent, in the same time period new listings are up 28.9 percent.
The graph shows a dip of 1.2 percent from June to July in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 5 percent higher than July 2019. The volume of house sales rises 33.3 percent year to year.
Last month versus the previous July, Vancouver west detached prices grow by 3.7 percent. July 2020 versus July 2019 west side house sales are 5 percent lower. Year to year inventory is up 16.6 percent.
June to July sales of west side houses see a decrease of 3.8 percent. Month to month detached inventory is up 2.4 percent.