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Blog by Don Kennedy

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Vancouver East apartments

February statistics

Attached please find the latest statistics from the Greater Vancouver Real Estate Board.

 

Due to phenomenal competition the News Release not only reports above average sales last month but also labels February 2016 as the highest selling February on record. Last month compared to the previous February Metro Vancouver residential sales are up 36.3 percent. The price squeeze of this Seller’s market is unlikely to relax as long as supply trails demand and although the inventory of new listings last month is 7.1 percent higher than February 2015, the total supply of listed properties is down by 38.6 percent year to year. Composite value is up 22.2 percent February to February.

 

The graph measures a 2.6 percent increase from January to February in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 17.7 percent. The volume of condo sales last month compared to February 2015 rises 43.9 percent.

 

Vancouver east apartment prices in February 2016 versus the previous February are up by 20.9 percent. East side condo sales last month are 2.9 percent lower than the volume set in February 2015. East side condo inventory is down 7.6 percent year to year.

 

Last month versus January east side apartment sales recover with a 58 percent increase. Month to month Vancouver east adds 48.2 percent to its inventory.

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