Vancouver west apartments
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
Due to phenomenal competition the News Release not only reports above average sales last month but also labels February 2016 as the highest selling February on record. Last month compared to the previous February Metro Vancouver residential sales are up 36.3 percent. The price squeeze of this Seller’s market is unlikely to relax as long as supply trails demand and although the inventory of new listings last month is 7.1 percent higher than February 2015, the total supply of listed properties is down by 38.6 percent year to year. Composite value is up 22.2 percent February to February.
The graph measures a 2.6 percent increase from January to February in the monthly average condominium sale price for Greater Vancouver. Year to year the overall benchmark price for apartments is up 17.7 percent. The volume of condo sales last month compared to February 2015 rises 43.9 percent.
February 2016 to February 2015 the benchmark price for west side apartments is 23.7 percent higher. Vancouver west condo sales increase by 37.8 percent year to year. February to February inventory of west side condos is up 3.5 percent.
From January to February, Vancouver west apartment sales surge up 81.5 percent. West side inventory increases 17.3 percent.