VANCOUVER EAST AUGUST APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release touts August as the wrap up of a summer reflecting a more normal Real Estate market. Buyers who were absent for the first six months of the year have returned and as a result have mitigated 2019’s amassing of housing inventory. Last month residential detached, attached and apartment sales increase 15.7 percent compared to August 2018. Year to year the total inventory of listed properties is up 13.3 percent while new listings are down 3.5 percent in that same time period. August to August the composite value of all Metro Vancouver properties is down 8.3 percent.
The graph takes a minor dip of 0.6 percent from July to August in the average Metro Vancouver condominium sale price. Year to year the overall benchmark price for apartments is down 8.4 percent. Condo sales volume is up by 8.9 percent August 2019 compared to the previous August.
Vancouver east apartment prices last month versus the previous August are 7.5 percent lower. Year to year east side apartment sales are up 11.7 percent. East side condo inventory decreases 11 percent August to August.
This July to August east side apartment sales dip by a modest 3.1 percent. Inventory is down 23.7 percent month to month.