VANCOUVER WEST MARCH HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release affirms that we have entered uncharted territory indefinitely.
Meantime Realtors are taking their essential service designation very seriously, ensuring the safety of public health while handling the business of those who still want/need to buy and sell Real Estate.
While the month begins with continuing recovery, the latter half of March sees a regression as the result of the Covid 19 pandemic. Last month residential detached, attached and apartment sales increase 46.1 percent compared to March 2019. Year to year the total inventory of listed properties declines 24.8 percent while new listings are 10.4 percent lower in that same time period. March to March the composite value of all Metro Vancouver properties is up 2.1 percent.
The graph shows the average price for Metro Vancouver detached properties in March spiking 6.9 percent from February. The benchmark price for detached homes last month is 0.7 percent more than March 2019. The volume of house sales is up 61.1 percent year to year.
Last month versus the previous March, Vancouver west detached prices decrease 2.8 percent. March 2020 versus March 2019 west side house sales are up by 65.6 percent. Year to year inventory is down 19.7 percent.
February to March sales of west side houses see another major increase of 71 percent. Month to month detached inventory is up 15.3 percent.