Vancouver Condo Listings Lowest in Ten Years

Vancouver's resale condo listings at currently down to a mere 455, which is 49% less than a year ago. The last time listings hit rock bottom was in December 2009, prior to Vancouver's Olympics because everyone was buying on the hype, some with the intention of doing furnished rentals for the Olympics.Then many owners tried to catch in after the Olympics and in June 2010 listings peaked at 2,346. In 2015 listings peaked at 1415 in May. 

What will 2016 bring? I don't see the inventory increasing, which will result in higher prices.

 

West Side house listings currently sit at 369, having peaked at 1191 in June 2012.

East Vancouver house listings are only 226, having peaked at 1087 in September 2008

In Janury 2005 the west side had 495 listings , compared to 686 on the east side. Traditionally Vancouver's West Side has always had more listings but this changed in 2008 as the Mainland Chinese starting consuming West Side houses and that increased the demand in East Van, due to affordability.The West Side has pretty much become a Chinese only market, pushing lower priced buyers East. 

 

Jan 1, 2016

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