VANCOUVER WEST MAY HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release discusses a higher comfort level among Buyers and Sellers as they acclimate to the physical distancing requirements of WorkSafeBC and the provincial health office. Meantime home prices have so far remained unaffected by Covid 19 sequestering. May to May the composite value of all Metro Vancouver properties is up 2.9 percent. This May, residential detached, attached and apartment sales decrease 43.7 percent compared to May 2019. Year to year the total inventory of listed properties declines 32.4 percent. In the same time period new listings are down 37.1 percent.
The graph shows the average price for Metro Vancouver detached properties in May dipping 1.4 percent from April. The benchmark price for detached homes last month is 2.9 percent higher than May 2019. The volume of house sales recedes 41.5 percent year to year.
Last month versus the previous May, Vancouver west detached prices edge up 2.2 percent. May 2020 versus May 2019 west side house sales drop 40.7 percent. Year to year inventory is down 47.2 percent.
April to May sales of west side houses see a sharp increase of 37.8 percent. Month to month detached inventory grows 81.3 percent.