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Ian Watt February 2017 Statistics Part 1 for Downtown Vancouver

Blog by Ian Watt | March 2nd, 2017

Ian Watt video blogs about the February 2017 statistics versus the 2016 statistics for Downtown Vancouver condos which were up 4% as well as the West Side Vancouver detached houses which were down 9%.

Ian Watt: Hi good afternoon it’s Ian Watt in Downtown Vancouver. The statics are in for February 2017 and it’s very interesting to see what’s happen if you compare it to February 2016. The average sale price of Vancouver condo was up 4%, okay that’s pretty good. But because I only sell Vancouver condos it will be a disservice to only watch Vancouver condos because the Vancouver Westside houses generally lead the way. If the Vancouver houses are on fire soon after the condos will be on fire get my drift? Okay think about this the average sale price of Vancouver Westside detached home was down 9% from $3.4 million-ish to $3.1 million-ish big changed there. The average amount of inventory from February 2017 to 2016 to condos that concerned is up to 1% and as houses is concerned a down 1% not a lot of change there but the biggest change you’ll notice in Vancouver condos and the houses is the amount of transactions that have happened. Listen to this I got to check my cheat sheets here, the amount of sales that happened in 2016 for Vancouver condos in the Downtown core from 324 to this year 220 which is down to 32% but houses mind you remember houses has 9% drop they went from 224 sales in 2016 to 93 sales in 2017 down 58% and maybe that’s why we seen that big drop. No realtor knows what’s gonna happen in the future or we can do as look at the past. My name is Ian Watt and if you have any questions you can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!