VANCOUVER WEST OCTOBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports no slowdown in October of recent frenzied activity, with sales nearing a record for that month. The pandemic has caused a shift in attention to housing and Realtors remain diligent in creatively helping Buyers safely meet their needs. October 2020 compared to the preceding October sees the composite value of all properties up six percent. October to October residential detached, attached and apartment sales increase 29 percent. New listings year to year are up 36.7 percent but the total inventory of listed properties is only up a mere 1.5 percent.
The graph shows a modest increase of 0.3 percent from September to October in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 8.5 percent higher than October 2019. The volume of house sales is up 43.2 percent year to year.
Last month versus the previous October, Vancouver west detached prices rise 5.5 percent. October 2020 versus October 2019 west side house sales are 42.3 percent higher. Year to year inventory is up by 13.3 percent.
From September to October west side house sales increase by 6.7 percent. Month to month detached inventory is 5.8 percent lower.