Vancouver West Apartment Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release quotes “homebuyer activity is operating above our long term averages” as Metro Vancouver Real Estate exceeds the 10 year sales average for November by 17 percent. The apartment and attached sectors continue to be the darlings of the industry while the sales-to-active listings ratio for detached properties suggests a levelling on that front. November 2017 total residential sales increase 26.2 percent from last November. Year to year new listings are 30.6 percent higher while total inventory of listed properties inches up 4.3 percent November to November. The composite value of all Metro Vancouver properties is up 14 percent last month compared to November 2016.
The graph records an increase of 1.9 percent from October to November in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 23.9 percent. The volume of condo sales last month compared to November 2016 rises 25.7 percent.
Last month versus November 2016 the benchmark price for west side apartments is 17 percent higher. November to November Vancouver west condo sales increase by 31.2 percent. Year to year west side apartment inventory is up 24.7 percent.
October to November Vancouver west apartment sales decline 3.1 percent. Month to month west side condo inventory is 18.6 percent lower.