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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 traces back 18 years to find a time when Metro Vancouver home sales dip as low as those of 2018. Listed major factors which colluded to yield this result are [as feared last January] new mortgage rules and higher interest rates along with taxes and high prices. 2018 sales are 25 percent below the regions 10-year average with all sectors down 31.6 percent for the year 2018 compared to all of 2017. 2019 appears to be formulating as a year that will be favourable to Buyers.


Last month total Metro Vancouver residential sales drop 46.8 percent compared to December 2017. Year to year new listings are 25.6 percent lower but in that same time period the total inventory of listed properties is up by 47.7 percent. The composite value of all Metro Vancouver properties decreases 2.7 percent December 2018 versus December 2017.


The graph is positive for the average attached unit price in Metro Vancouver from November to December, up 1.2 percent. Last month compared to December 2017 the benchmark townhouse price dips 1.3 percent. Year to year the volume of townhome sales is down 49.1 percent.


Last month versus December 2017 Vancouver west townhouse prices are 0.5 percent lower. December to December attached unit sales drop 30.7 percent. Year to year inventory is 39.1 percent less.


From November to December west side attached sales decline 37.9 percent. Month to month Vancouver west attached inventory plummets 77.4 percent.