Vancouver east condo analysis
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release continues the onward and upward Real Estate story we have heard all year. High demand from confident consumers taking advantage of low interest rates persistently outpaces supply of detached homes in Greater Vancouver. The resultant competition is causing upward pressure on prices. Composite value is up 11.2 percent July to July. Last month compared to July 2014 residential sales increase 30 percent. The inventory of new listings In July 2015 is 3.8 percent higher than the previous July but this proves insufficient to fill the void as the total supply of listed properties declines by 26.3 percent year to year.
The graph shows that from June to July the average Greater Vancouver monthly condominium sale price records a minor increase of 0.2 percent. Year to year the overall benchmark price for apartments is up 5.9 percent. The volume of condo sales last month compared to July 2014 registers a 42.7 percent rise.
Vancouver east apartment prices in July 2015 versus the previous July increase by 5 percent. East side condo sales last month are 27.7 percent higher than the volume set in July 2014. Year to year east side condo inventory is up 1.6 percent.
This June to July east side apartment sales show negatively with a 12.1 percent drop. Month to month Vancouver east inventory is down by 17.9 percent.