VANCOUVER WEST AUGUST APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release touts August as the wrap up of a summer reflecting a more normal Real Estate market. Buyers who were absent for the first six months of the year have returned and as a result have mitigated 2019’s amassing of housing inventory. Last month residential detached, attached and apartment sales increase 15.7 percent compared to August 2018. Year to year the total inventory of listed properties is up 13.3 percent while new listings are down 3.5 percent in that same time period. August to August the composite value of all Metro Vancouver properties is down 8.3 percent.
The graph takes a minor dip of 0.6 percent from July to August in the average Metro Vancouver condominium sale price. Year to year the overall benchmark price for apartments is down 8.4 percent. Condo sales volume is up by 8.9 percent August 2019 compared to the previous August.
Last month versus August 2018 the benchmark price for west side apartments is down 9.9 percent. Vancouver west condo sales appreciate 14.2 percent August to August. Year to year west side apartment inventory is 2.2 percent lower.
From July to August Vancouver west apartment sales see a 10.6 percent downturn. Month to month west side condo inventory falls 26.2 percent.