VANCOUVER WEST DECEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on how successful the 2020 Real Estate market was despite a raging pandemic. Although moribund for a short period in spring, the Real Estate industry quickly adapted to safely meet the needs of Buyers and Sellers for the rest of the year. Total annual sales and listings did dip slightly below the region’s 10 year average, but a strong push at year’s end brought activity in line with the region’s long term average.
December 2020 records the highest sales average ever for that month. Compared to December 2019, residential detached, attached and apartment sales increase 53.4 percent. Last month the annual composite value of all properties is up 5.4 percent. New listings year to year are up 51.7 percent. However the total inventory of listed properties is actually down 0.8 percent December to December.
The graph shows an increase of 1 percent from November to December in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 10.2 percent higher than December 2019. The volume of house sales is up 71.3 percent year to year.
Last month versus the previous December, Vancouver west detached prices rise 7.5 percent. December 2020 versus December 2019 west side house sales are 42.3 percent higher. Year to year inventory is up by 21.2 percent.
From November to December west side house sales fall by 11.6 percent. Month to month detached inventory is 43.3 percent lower.