Vancouver East Apartments 17 6
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release tells a tale of two titles as strata properties dominate while single detached properties see an easing in demand. While the sales-to-active listings ratio for single-family homes is nowhere near the threshold triggering downward pressure on value, demand is not being met for condominiums in particular causing multiple offers that are inflating average prices for that sector. Overall sales exceeded the 10 year average for the month of June by 14.5 percent however in June 2017 residential sales drop 11.5 percent from the all time record set in the previous June. The total inventory of listed properties is up by 9 percent annually but year to year new listings are 2.6 percent lower. June to June the composite value of all Metro Vancouver properties is up 7.9 percent.
The graph barely notices a 0.07 percent decline from May to June in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 17.6 percent. The volume of condo sales last month compared to June 2016 sees a drop of 9.6 percent.
Vancouver east apartment prices in June 2017 versus the previous June are up by 21.4 percent. East side apartment sales last month soar 29.3 percent above June 2016. Year to year east side condo inventory is down 15.4 percent.
Last month versus this May east side apartment sales climb 12.3 percent. Month to month Vancouver east condominium inventory falls 17.4 percent.