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Blog by Don Kennedy

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Vancouver West Apartments

May Statistics

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

The News Release echoes this year’s mantra of excellence as May 2016 ranks highest on record for sales in that month. Compared to the previous May, last month Metro Vancouver residential sales rise 17.6 percent. Supply of all types of property is consistently outpaced by demand. The result is that although the inventory of new listings last month is 11.5 percent higher than May 2015, the total inventory of listed properties is down by 37.3 percent year to year. Composite value is up 29.7 percent May to May.

The graph measures a 7.9 percent lift from April to May in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 22.3 percent. The volume of condo sales last month compared to May 2015 rises 34.4 percent.

May 2016 versus May 2015 the benchmark price for west side apartments is 28 percent higher. Vancouver west condo sales increase by 13.9 percent year to year. May to May inventory of west side condos is down 4.3 percent.

 From April to May, Vancouver west apartment sales improve 2.7 percent. West side condo inventory decreases 0.3 percent month to month.