Vancouver East October Apartment Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release headlines the continuing Metro Vancouver Real Estate trend of exceeding 10 year sales averages as last month transcends that of October by 15 percent. Robust activity in the apartment and attached sectors (due in part to the upcoming tightening of mortgage qualification) is behind most of the surge but with the sales-to-active listings ratio for detached properties now at 16.8 percent it suggests a rebound from the slide over the summer to that 12 percent threshold which triggers downward pressure on value. October 2017 total residential sales increase 35.3 percent from last October. Year to year new listings are 14 percent higher however total inventory of listed properties dips 0.1 percent October to October. The composite value of all Metro Vancouver properties is up 12.4 percent last month compared to October 2016.
The graph displays an increase of 2 percent from September to October in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 22.7 percent. The volume of condo sales last month compared to October 2016 rises 30.1 percent.
Vancouver east apartment prices in October 2017 versus the previous October rise 19.7 percent. East side apartment sales improve 15.2 percent year to year. East side condo inventory increases 9.1 percent October to October.
September to October east side apartment sales pivot, increasing 37.6 percent. Month to month inventory gets a 5.2 percent lift.