VANCOUVER WEST JUNE APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that fundamentals like low interest rates and growth in jobs and the economy are maintaining a strong seller’s market. However the frantic pace of early spring has abated and there is an ebb back towards normalcy. Still, last months sales exceed the 10 year average for June by 18.4 percent. Sales of residential properties last month increase 54 percent compared to June 2020. New listings are 1.1 percent more year to year while the total inventory of listed properties is up 5.1 percent June to June. Last month the annual composite value of all properties rises 14.5 percent.
The graph shows an almost imperceptible 0.08 percent dip from May to June for the average Metro Vancouver condominium sale price. June 2021 compared to the previous June the overall benchmark price for an apartment is 8.9 percent higher. Year to year condo sales volume is up by 60.5 percent.
Last month compared to June 2020, the benchmark price for west side apartments is 5.3 percent higher. Vancouver west condo sales are up 51.6 percent June to June. Year to year west side apartment inventory is 3.4 percent higher.
From May to June Vancouver west apartment sales are down 17 percent. Month to month west side condo inventory is 11 percent lower.