Vancouver West Apartments
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that it’s still too soon to verify any effect on the Greater Vancouver Real Estate market attributable to the new 15 percent Foreign Buyers Property Transfer Tax. However the traditional holiday lethargy that skipped the summer of 2015 held on last month. Not only that but for the first time in 2016, last month did not exceed the 10 year average for its month. Metro Vancouver residential sales drop 26 percent last month compared to the extraordinarily active August of 2015. New listings of all property types increase a minimal 0.3 percent year to year but the total inventory of listed properties is down by 21.9 percent August to August. Composite value is up 31.4 percent year to year.
The graph records a 7.8 percent decrease from July to August in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 26.9 percent. The volume of condo sales last month compared to August 2015 is down 10.1 percent.
August 2016 versus August 2015 the benchmark price for west side apartments is 27.6 percent higher. Vancouver west condo sales decrease by 35 percent year to year. August to August inventory of west side condos is down 1.8 percent.
From July to August, Vancouver west apartment sales decline 21.4 percent. West side condo inventory decreases 19.4 percent month to month.