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Blog by Don Kennedy

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Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.


The News Release labels last month as the November with the lowest sales since the dark days of 2008, and that edged home prices down across all property types anywhere from four to seven percent. Total residential sales this November are down 42.5 percent compared to November 2017. November to November new listings decline 15.8 percent but the total inventory of listed properties is up 40.7 percent. November 2018 over the previous November the composite value of all Metro Vancouver properties decreases 1.4 percent


The graph shows a healthy 5.2 percent increase from October to November for the average price of Metro Vancouver detached properties. The benchmark price for houses last month compared to November 2017 is down 6.5 percent. The volume of house sales is down year to year by 38.6 percent


East side house prices year over year are down 6.5 percent. This November versus November 2017 Vancouver east detached sales drop 39.3 percent. November to November inventory is 35.6 percent less.


Comparing October to November east side house sales move to minus territory with a 28.8 percent decline. Month to month east side inventory is down 24.9 percent.