Vancouver East Apartments
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release resolves that while prices for townhomes and apartments remain stable, detached homes are seeing modest declines month to month due to lower demand relative to supply. However the sales-to-listings percentage has not yet reached that critical point which would traditionally trigger downward pressure on prices. Whatever inference we can draw from this the fact is that composite value of all properties is up 20.5 percent year to year. Metro Vancouver residential sales drop 37.2 percent last month compared to November of 2015. New listings of all property types are down 7.2 percent year to year while the total inventory of listed properties is up by 3.6 percent November to November.
The graph records an infinitesimal 0.01 percent decrease from October to November in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 18 percent. The volume of condo sales last month compared to November 2015 is down 22.7 percent.
Vancouver east apartment prices in November 2016 versus the previous November are up by 21.3 percent. Surprisingly east side apartment sales last month are 5 percent higher than November 2015. Year to year east side condo inventory is up 9.7 percent.
Last month versus October east side apartment sales turn around significantly via a 34.9 percent increase. This while month to month Vancouver east inventory is down by 24.8 percent.