VANCOUVER WEST JANUARY HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release emphasizes steadiness in describing January 2020 Real Estate activity for Metro Vancouver. It also queries whether the spring market will rise to meet the current Buyer demand. Last month residential detached, attached and apartment sales increase 42.4 percent compared to January 2019. Year to year the total inventory of listed properties recedes 20.3 percent while new listings are 20.1 percent lower in that same time period. January to January the composite value of all Metro Vancouver properties is down 1.2 percent.
The graph shows the average price for Metro Vancouver detached properties in January falling 4.5 percent from December. The benchmark price for detached homes last month compared to January 2019 is down 1.7 percent. The volume of house sales is 29.5 percent higher year to year.
Last month versus the previous January, Vancouver west detached prices decrease 2.1 percent. January 2020 versus January 2019 west side house sales are up by 2.9 percent. Year to year inventory is down 38.7 percent.
December to January sales of west side houses see a 40.7 percent decline. Month to month detached inventory is 118.2 percent more.