VANCOUVER EAST OCTOBER APARTMENT MARKET
Attached please find the latest statistics from Greater Vancouver Realtors.
The News Release for October is less optimistic than in other recent months. Although inventory levels are declining, sales last month proved to be sluggish despite a fourth cut in interest rates by the Bank of Canada. With prices receding, conditions for buyers have not been more favourable all year. This October recorded a 14.3 percent decrease in residential sales compared to last October. Year to year newly listed properties are down 0.3 percent while last month’s total inventory is 13.2 percent higher than October 2024. The composite value of all properties is 3.4 percent lower October to October.
The graph shows a 0.4 percent uptick from September to October for the average condominium sale price in Metro Vancouver. This October compared to last October, the overall benchmark price of an apartment is down 5.1 percent. Year to year the volume of condo sales falls 23.1 percent.
Vancouver east apartment prices are five percent lower last month than October 2024. October to October east side apartment sales are down 15.6 percent. Year to year east side condo inventory declines 8.8 percent.
From September to October, east side apartment sales increase 6.9 percent. Month to month inventory falls 33.5 percent.