Vancouver West Apartments 17 5
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release indicates that last month home sales stretched up to near record levels due to high demand by local buyers for apartments and townhomes. Those sales exceeded the 10 year average for the month of May by 23.7 percent. Residential sales drop 8.5 percent year to year which is a much smaller margin than any month so far in 2017. New listings last month are 3.9 percent lower than May 2016. The total inventory of listed properties is up by 5.7 percent annually. May to May the composite value of all Metro Vancouver properties is up 8.8 percent.
The graph illustrates a 3.5 percent jump from April to May in the average condominium sale price for Metro Vancouver. Year to year the overall benchmark price for apartments is up 5.8 percent. The year to year volume of condo sales records an increase for the first time in 2017 with 17.8 percent more sold last month than May 2016.
The benchmark price for west side apartments May to May is 9.6 percent higher. Vancouver west condo sales decrease by 8 percent year to year. This May compared to May 2016 west side apartment inventory is down 1.3 percent.
Month to month Vancouver west apartment sales rebound, increasing 20.1 percent. West side condo inventory April versus May is 28.8 percent higher.