Are East Vancouver Property Sales Curtailed by Low Inventory?

When I check the East Vancouver real estate graphs back in 2005 i noticed the difference in the listings to sales ratio compared to what it currently is. Back in 2005 the total listings were 1,250 compared to 653 today. Sales at the beginning of 2005 totalled 227 vs 314 today, resulting in a sales/active ratio of 48% today, compared to 19% in 2005.Today's population is greater and I think sales would be higher if there were more listings.

Over the last ten years, the record number of sales East Vancouver property sales were in June 2005 which had 578.. Listings peaked at 2,000 in June 2008 and have been on a steady decline since, currently at 653 for November 2015.

Sales dollar volume peaked in June this year and has decreased since then but has increased 51% from a year ago and is more than three times higher than ten years ago - to be expected because of rising real estate prices.

Overall average days on the market sits at 33 and is the lowest in the last ten years. Townhomes and condos are selling at an average of less than l% of list price and houses are selling at an average of 4% over list price.

Average dollar pr sq ft for East Van houses is $642 (compared to 1058 for West Side houses), $646psf for townhomes and $549psf for condos.

East Vancouver average sales price for houses is going vertical - up 34% over the last year, with an average of $1.386.000. In Dec'13 it cracked $1M for the first time. Townhomes are up 13% over the last year, with an average sale price of $668,000. East Van condos sit at $448,000 - up 21% over the last year.

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