VANCOUVER WEST FEBRUARY HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports higher demand and lower supply as vanguard hallmarks for this year. As a result, upward pressure on value is re-emerging as are multiple offers.
Last month residential detached, attached and apartment sales increase 44.9 percent compared to February 2019. Year to year the total inventory of listed properties declines 20.7 percent while new listings are 2.8 percent higher in that same time period. February to February the composite value of all Metro Vancouver properties is up 0.3 percent.
The graph shows the average price for Metro Vancouver detached properties in February rising 0.6 percent from January. The benchmark price for detached homes last month is a mere 0.7 percent under February 2019. The volume of house sales is up 52.9 percent year to year.
Last month versus the previous February, Vancouver west detached prices decrease 3.9 percent. February 2020 versus February 2019 west side house sales are up by 44.2 percent. Year to year inventory is down 30.3 percent.
January to February sales of west side houses see an explosive 77.1 percent increase. Month to month detached inventory is 9 percent less.