VANCOUVER EAST OCTOBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports no slowdown in October of recent frenzied activity, with sales nearing a record for that month. The pandemic has caused a shift in attention to housing and Realtors remain diligent in creatively helping Buyers safely meet their needs. October 2020 compared to the preceding October sees the composite value of all properties up six percent. October to October residential detached, attached and apartment sales increase 29 percent. New listings year to year are up 36.7 percent but the total inventory of listed properties is only up a mere 1.5 percent.
The graph reveals a 1.9 percent decrease from September to October for the average Metro Vancouver condominium sale price. October 2020 compared to the previous October the overall benchmark price for an apartment is 4.4 percent higher. Year to year condo sales volume is up by 13.4 percent.
Vancouver east apartment prices last month versus the previous October are up by 3.6 percent. October to October east side apartment sales decline by 7.4 percent. Year to year east side condo inventory is a much lower 67.7 percent.
From September to October east side apartment sales fall 11.7 percent. Month to month inventory is down 15.3 percent.