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Blog by Don Kennedy

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Vancouver West Apartments

2016 July statistics

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

As we wait to see if the just enacted 15 percent Foreign Buyers Property Transfer Tax will have any effect on the Greater Vancouver Real Estate market the News Release notes that some organic adjustment may already be underway. Although July sales exceeded the 10 year average for the month they looked to be more typical. Metro Vancouver residential sales decline 18.9 percent year to year. New listings of all property types increase 2.5 percent year to year but the total inventory of listed properties is down by 27.4 percent last month compared to July 2015. Composite value is up 32.6 percent July to July.

The graph records a small about turn via the 1.2 percent increase from June to July in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 27.4 percent. The volume of condo sales last month compared to July 2015 dips down 7.3 percent.

July 2016 versus July 2015 the benchmark price for west side apartments is 31.7 percent higher. Vancouver west condo sales decrease by 24.2 percent year to year. July to July inventory of west side condos is down 4.8 percent.

 From June to July, Vancouver west apartment sales decline 24.9 percent. West side condo inventory decreases 4.1 percent month to month.