Vancouver West 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.
The benchmark price for west side apartments June to June is 10.5 percent higher. Vancouver west condo sales decrease by 20.5 percent year to year. This June compared to June 2016 west side apartment inventory is down 8.5 percent.
Month to month Vancouver west apartment sales decrease 12.5 percent. West side condo inventory May versus June is 8.8 percent lower.