Vancouver East Apartments
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release points out that 2016 was Metro Vancouver’s third highest for annual sales of Real Estate despite a slowdown in the latter potion of the year. Whether that pullback was the result of government tinkering or from supply catching up with demand will not be confirmed for some time. Comparing 2016 to 2015 (one of the other top 3 years) total sales are down 5.6 percent.
Last month compared to December of 2015 composite value of all Metro Vancouver properties is up 17.8 percent. Residential sales drop 39.4 percent year to year. New listings of all property types are down 35.1 percent December to December while the total inventory of listed properties is up by 5.3 percent annually.
The graph records a 4.8 percent increase from November to December in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 17.3 percent. The volume of condo sales last month compared to December 2015 is down 25.3 percent.
Vancouver east apartment prices in December 2016 versus the previous December are up by 19.5 percent. East side apartment sales last month are 12.9 percent below December 2015. Year to year east side condo inventory is down 19 percent.
Last month versus November 2016 east side apartment sales spin negative via a 36.1 percent decline. This perhaps because month to month Vancouver east inventory is down by a whopping 67.7 percent.