Vancouver west condo analysis
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release reports that for most of the year sales of residential homes trended well over the ten year sales average. Compounded by supply not rising to meet demand, this is forcing prices up with detached houses continuing to feel the effects most. Last month compared to September 2014 residential sales increase 14.5 percent. The inventory of new listings in September 2015 is 7.9 percent lower than the previous September and the total supply of listed properties is down by 27 percent year to year. Composite value is up 13.7 percent September to September.
The graph shows that from August to September Greater Vancouver average monthly condominium sale prices sink negative, declining 8.1 percent. Year to year the overall benchmark price for apartments is up 9 percent. The volume of condo sales last month compared to September 2014 rises 28.7 percent.
Last September compared to September 2015 the benchmark price for west side apartments is 12.3 percent higher. Vancouver west condo sales increase by 3.8 percent year to year. September to September inventory of west side condos is 13.9 percent lower.
From August to September Vancouver west apartment sales fall 17.7 percent. Month to month west side inventory is down by 13.9 percent.