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Blog by Don Kennedy

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Vancouver West Apartments

Stats 16 12.pdf

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.

 

November 2016 versus November 2015 the benchmark price for west side apartments is 17.1 percent higher. Vancouver west condo sales decrease by 35.3 percent year to year. November to November inventory of west side apartments is down 4.1 percent.

 

October to November Vancouver west apartment sales decline by 1 percent. Month to month west side condo inventory drops 20.6 percent.

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