VANCOUVER EAST AUGUST APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release lauds Metro Vancouver Real Estate activity as exceeding the 10 year August average by nearly 20 percent. The active market continues to be the result of low interest rates and insufficient supply. August 2020 compared to the preceding August sees the composite value of all properties up 5.3 percent. August to August residential detached, attached and apartment sales increase 36.6 percent. Even with a healthy year to year increase of 55.1 percent for new listings, the total inventory of listed properties is actually down by 4.4 percent.
The graph displays a 1.8 percent increase from July to August for the average Metro Vancouver condominium sale price. August 2020 compared to the previous August the overall benchmark price for an apartment is 4.5 percent higher. Year to year condo sales volume is up by 19.4 percent.
Vancouver east apartment prices last month versus the previous August are up by 6.1 percent. August to August east side apartment sales increase by 25 percent. Year to year east side condo inventory is 112.4 percent higher.
From July to August east side apartment sales dip 0.8 percent. Month to month inventory is 112.4 percent greater.