VANCOUVER WEST NOVEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release outlines how Sellers are the beneficiaries of high demand. That demand is outpacing historical averages, thus stimulating prices especially for houses and townhomes. In November the composite value of all properties is up 5.8 percent. November to November residential detached, attached and apartment sales increase 22.7 percent. New listings year to year are up 36.2 percent. Still, the total inventory of listed properties is only up 3.2 percent.
The graph shows an increase of 1.9 percent from October to November in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 9.4 percent higher than November 2019. The volume of house sales is up 28.6 percent year to year.
Last month versus the previous November, Vancouver west detached prices rise 6.1 percent. November 2020 versus November 2019 west side house sales are 46.1 percent higher. Year to year inventory is up by 14.6 percent.
From October to November west side house sales fall by 14.4 percent. Month to month detached inventory is 28.1 percent lower.