VANCOUVER WEST DECEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on 2019 as being unconventional. The traditionally robust spring market was dormant as Buyers awaited the effects of various government policies. This resulted in a below average year which none the less experienced much resilience in its second half.
December saw that rebound continue as residential detached, attached and apartment sales increase 88.1 percent compared to December 2018. Year to year the total inventory of listed properties increases 16.3 percent while new listings are up 12.9 percent in that same time period. December to December the composite value of all Metro Vancouver properties is down 3.1 percent.
The graph shows the average price for Metro Vancouver detached properties in December up by an impressive 5.8 percent from November. The benchmark price for detached homes last month compared to December 2018 is down 4 percent. The volume of house sales is 72.1 percent higher year to year.
Last month versus the previous December, Vancouver west detached prices decline 6.7 percent. December 2019 versus December 2018 west side house sales are up substantially, by 78.8 percent. Year to year inventory is down 7 percent.
November to December sales of west side houses see a 14.8 percent decline. Month to month detached inventory is 46.9 percent lower.