Friday’s Facts – Vancouver Real Estate

West Side Detached Homes

The Vancouver West Side real estate market continues in it’s steady performance compared to last year.

More Listings – More Sales

New listings continue upward at 241 listings. Sales are above last years number at 138. This is a 3% increase over last years sales volume of 133 homes.

wsresdetytd.jpg

Total YTD West Side numbers show a 14% increase in available inventory coming in at 477 listings up from 355 last year.

Average West side prices are up 29% YTD coming in at 1,803,034 up from 1,393,505.

Overall YTD Decline

System wide sales declined by 5% from 2,905 down to 2,733.

Is it a trend?

I wouldn’t be brushing the dust off the Bear suit just yet. If this market continues for two full quarters it might be time to roar. Considering that last year was an all-time record, what we may be experiencing is a return to a “normal” market.

Average prices system wide increased up 17% YTD with average unit prices at 623,517 up from 531,687.

System wide 11,420 listings are now available up from 10,414. This will begin to impact some neighourhoods.

ttl-resdet-ytd.jpg

Assessment

  • decerning demand – greater choice
  • Days on Market DOM, increase
  • decreasing number of sales
  • more price reductions

Stats Courtesy of REBGV and are assumed to be correct.

Got a Vancouver Real Estate question? I’ll do my best to answer it. Call or send me an email. Larry

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Comment On This Post

will not be published
http://www.yourwebsite.com