VANCOUVER WEST SEPTEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release describes last month’s market conditions as more balanced, with Sellers overcoming their reluctance to list due to fear of higher mortgage rates. With inventory a little above seasonal, pressure softens on prices. Newly listed properties last month are 28.4 percent better than the previous September and total inventory of listed properties increases 9.2 percent year to year. Sales of all residential properties in Metro Vancouver this September rise 13.2 percent compared to last September. The composite value of all properties is 4.4 percent higher September to September.
The graph shows the average Metro Vancouver price for detached properties dropping by 1.6 percent from August to September. The benchmark price for houses in September 2023 is 5.8 percent better than the previous September. Year to year the volume of detached home sales rises 7.5 percent.
Last month versus September 2022, Vancouver west detached prices are up 8 percent. West side house sales increase 1.9 percent year to year. This September, inventory is 10.9 percent above the previous September.
From August to September west side house sales fall 20.3 percent. Month to month detached inventory rises 36.9 percent.