Vancouver east apartments
The News Release describes today’s Buyers as strongly competitive resulting in high demand and upward pressure on prices. The low volume this causes plus sales well above average for March produce ideal conditions for Sellers waiting for a good time to list their homes on the Multiple Listing Service.
Residential sales in March 2015 increase 53.7 percent compared to the previous March. Composite value for regional homes is up 7.2 percent March to March. Last month the inventory of new listings expands by 13 percent compared to the previous March. This however is not satisfying demand as the total supply of listed properties is down 14.5 percent year to year.
The graph shows that from February to March the average monthly condominium sale price for Greater Vancouver rolls over to the positive via a 3.9 percent uptick. Year to year the overall benchmark price for apartments is up 3.3 percent. The volume of condo sales last month compared to March 2014 sees a 47.1 percent increase.
Vancouver east apartment prices register a minor but surprising decrease of 0.7 percent in March 2015 versus the previous March. However east side condo sales last month are 41.8 percent higher than the volume set in March 2014. Year to year east side condo inventory is up 11.7 percent.
From February to March 2015 east side apartment sales see another solid increase of 40.7 percent. Month to month inventory is up by 11.3 percent.