Vancouver east condo market
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release trumpets 2015 as history’s highest for home sales despite chronic low inventory.
December 2015 compared to the previous December residential sales increase 33.6 percent. The inventory of new listings last month is 7 percent higher than December 2014 but an indication that demand is not being met is the total supply of listed properties being down by 41.6 percent year to year. Composite value is up 18.9 percent December to December.
The graph indicates a stall from November to December in the Greater Vancouver average monthly condominium sale prices which creep down 0.4 percent. Year to year the overall benchmark price for apartments is up 14 percent. The volume of condo sales last month compared to December 2014 rises 34.3 percent.
Vancouver east apartment prices in December 2015 versus the previous December are up by 15.6 percent. East side condo sales last month are 18.2 percent lower than the volume set in December 2014. Perhaps because year to year east side condo inventory is down significantly, by 52.9 percent.
November 2015 compared to last month east side apartment sales drop 22.9 percent. Month to month Vancouver east apartment inventory declines by 56.3 percent.