Vancouver Average Home Price Revolution

Revolution

As if guided by Napolean Bonaparte – the French Republic’s military and political leader, Vancouver’s average detached home price marched forward to a 22% YOY gain. Condo and apartment prices rested in June yet retained a 26% and 18% increase year over year.

Average Price 1977 – 2016

2016-07-01-Average-PriceYattermatters – Average Price June 2016

Vancouver Real Estate Average Numbers

Detached Attached Apartment
June 16 – $1,768,872
+22%
June 16 – $792,255
+26%
June 16 – $566,818
+18%
June 15 – $1,442,296 June 15 – $626,014 June 15 – $479,937

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
June 16 – 4,429
-07%
June 16 – 940
-43%
June 16 – 2,443
-57%
June 15 – 4,788 June 15 – 1,652 June 15 – 5,741

Vancouver Real Estate – Units Sold

Detached Attached Apartment
June 16 – 1,567
-18%
June 16 – 730
+7%
June 16 – 2,108
+18%
June 15 – 1,927 June 15 – 681 June 15 – 1,774

Forces Beyond Our Control

Napolean

The question is the same – “will Vancouver’s prices ever take a break?” Though on the surface this might seem a glib response the answer is not until China has a revolution!

Admittedly, for a brief moment that position faltered as Briton decided to leave the EU. The moment passed with the realization that for the most part that revolution will deliver the greatest change to the Brits.

China’s influence prevails as the supreme economic force. China’s forward march like Napoleon Bonaparte’s will leave little in its previous state. Least of which – the price of real estate of Vancouver.

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.

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*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.

Reader Comments:

July 23rd, 2016 at 9:18 am

Great data, over the past 40 years the average compounded rate of increase has been around 10% per year!
It seams that China and the world is in a state of continous high pace change, making our relatively safe environs an attractive place for living and investment. The problem is locals have a are hard time adjusting to these outside influences.

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