VANCOUVER EAST FEBRUARY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that sales of all residential properties last month are 26.9 percent above the 10 year average for February. However they are still down by 8.1 percent compared to February 2021. Our sharp ascent in pricing gets an extension because the market remains undersupplied to meet demand and last month the composite value of all properties is 20.7 percent higher than the previous February. However we do see a modest inventory bump as new listings last month increase 8.4 percent from February a year ago. Still, total inventory of listed properties falls 19.3 percent year to year.
The graph shows a strong increase of 5.2 percent from January to February for the average condominium sale price in Metro Vancouver. February 2022 compared to the previous February the overall benchmark price for an apartment is 15.9 percent higher. Year to year condo sales volume is up by 5.4 percent.
Vancouver east apartment prices last month versus the previous February are up by 13.2 percent. February to February east side apartment sales rise 3.8 percent. Year to year east side condo inventory is 14.3 percent higher.
From January to February, east side apartment sales are up 32.9 percent. Month to month inventory expands 18.4 percent.