VANCOUVER WEST AUGUST HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release touts August as the wrap up of a summer reflecting a more normal Real Estate market. Buyers who were absent for the first six months of the year have returned and as a result have mitigated 2019’s amassing of housing inventory. Last month residential detached, attached and apartment sales increase 15.7 percent compared to August 2018. Year to year the total inventory of listed properties is up 13.3 percent while new listings are down 3.5 percent in that same time period. August to August the composite value of all Metro Vancouver properties is down 8.3 percent.
The graph shows the average price for Metro Vancouver detached properties in August up from July by 4.2 percent. The benchmark price for detached homes last month compared to August 2018 is down 9.8 percent. The volume of house sales is 24.5 percent higher year to year.
Last month versus the previous August Vancouver west detached prices fall 12 percent. August 2019 versus August 2018 west side house sales rise 3.4 percent. Year to year inventory is down 24.5 percent.
July to August sales of west side houses decline 24.1 percent. Month to month detached inventory is 30.4 percent lower.