VANCOUVER WEST MARCH APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release observes this year beginning like 2023 when we saw a flat start only to witness momentum gaining through spring and into summer. Meantime paradoxically, the experience last month was a Buyers market absent of Buyers. You have to go back to March of 2019 for sales as low as this March yet mortgage rates are low, prices are easing and there is ample inventory. Year to year newly listed properties are up 29 percent. The total inventory is now 37.9 percent higher than March 2024. Meantime this March recorded a 13.4 percent decrease in residential sales compared to last March. The composite value of all properties is 0.6 percent lower March to March.
The graph shows a 2.7 percent rise from February to March for the average condominium sale price in Metro Vancouver. This March compared to last March, the overall benchmark price of an apartment is down 0.9 percent. Year to year condo sales volume dips 10.2 percent.
March 2025 versus the previous March, the benchmark price for west side condos is 0.9 percent higher. Vancouver west apartment sales decrease 3.6 percent March to March. Year to year west side apartment inventory is up 36.3 percent.
From February to March, Vancouver west apartment sales improve 23.3 percent. Month to month west side condo inventory is up 23 percent.