Vancouver East Apartments 3 17
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release presents a reversion to above average sales for the month of March and forecasts price softening as unlikely since the Metro Vancouver demand remains greater than the housing supply. Homeowners are displaying a great reluctance to sell, particularly in the condo and townhouse markets. New listings last month have not been so low since 2009 and are 29.1 percent lower than March 2016. The total inventory of listed properties is up by 3.1 percent annually. Year to Year the composite value of all Metro Vancouver properties is up 12.7 percent. Residential sales drop 30.8 percent year to year.
The graph illustrates a 2.3 percent dip from February to March in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 16.1 percent. The volume of condo sales last month compared to March 2016 is down 18.3 percent.
Vancouver east apartment prices in March 2017 versus the previous March are up by 19.2 percent. East side apartment sales last month are 13.5 percent below March 2016. Year to year east side condo inventory is up 2.9 percent.
Last month versus February this year east side apartment sales stay strong with a 51.3 percent increase. Month to month Vancouver east condominium inventory is up 26.8 percent.