VANCOUVER WEST AUGUST APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release states that under supply and not a lack of Buyer enthusiasm is behind declining sales. Never the less, last month’s sales exceed the 10 year average for August by 20.4 percent. Sales of residential properties this August increase 3.4 percent compared to August 2020. However new listings are 30.6 percent less year to year while the total inventory of listed properties is down 29.7 percent August to August. With a lower supply, prices that Buyers are paying are edging up. Last month the annual composite value of all properties rises 13.2 percent.
The graph shows a 4.5 percent increase from July to August for the average condominium sale price. August 2021 compared to the previous August the overall benchmark price for an apartment is 7.6 percent higher. Year to year condo sales volume is up by 22.4 percent.
Last month compared to August 2020, the benchmark price for west side apartments is 3.2 percent higher. Vancouver west condo sales are up 29.5 percent August to August. Year to year west side apartment inventory is 5.7 percent lower.
From July to August Vancouver west apartment sales see a 5.7 percent uptick. Month to month west side condo inventory is 4.1 percent lower.