VANCOUVER WEST FEBRUARY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release assumes that some of the most favourable conditions since before the pandemic are approaching for Buyers, who may get another break on interest rates this month. We should see a flat trajectory for prices and a fairly balanced spring, even though Sellers have slowed in coming to the market. February to February newly listed properties are up only 10.9 percent. The total inventory is now 32.3 percent higher than February 2024. Meantime this February recorded an 11.7 percent decrease in residential sales compared to last February. The year to year composite value of all properties is 1.1 percent lower.
The graph shows a 2.7 percent dip from January to February for the average condominium sale price in Metro Vancouver. This February compared to last February, the overall benchmark price of an apartment is down 2.8 percent. Year to year condo sales volume declines 10.6 percent.
February 2025 versus the previous February, the benchmark price for west side condos is 2.8 percent lower. Vancouver west apartment sales decrease 9.9 percent February to February. Year to year west side apartment inventory is up 14.7 percent.
From January to February, Vancouver west apartment sales jump 29.7 percent. Month to month west side condo inventory is 4.8 percent less.