Vancouver East Condos 17 7
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release describes the Metro Vancouver July Real Estate Market as having reached a typical summer level, almost at par with the 10 year average for the month. Buyers however are enjoying the most selection of any time so far in 2017. Strata properties on average are selling in half the time of houses so although in general there is not yet evidence we have reached a point where downward pressure is expected on prices, on its own the single detached property is getting close. In July 2017 total residential sales drop 8.2 percent from the previous July. Year to year new listings are 0.3 percent higher and the total inventory of listed properties is up by 10.1 percent. July to July the composite value of all Metro Vancouver properties is up 8.7 percent.
The graph records a positive turnaround from June to July of 1.3 percent in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 18.5 percent. The volume of condo sales last month compared to July 2016 declines 8.4 percent.
Vancouver east apartment prices in July 2017 versus the previous July stay strong with a 20.5 percent increase. East side apartment sales remain strong too, up 14.5 percent year to year. East side condo inventory rises 33.7 percent July to July.
Last month versus this June east side apartment sales fall 37 percent. Month to month inventory slips down 1.4 percent.