VANCOUVER EAST JUNE APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release implies that Buyers should not wait much longer to take advantage of the current high inventory, low interest rates and stable prices as there is now cautious optimism for Greater Vancouver Real Estate. While most segments of the market remain in balance and thus moderating prices, last month’s sales declined by half of the drop seen in May, which means inventory levels are escalating less. This is perceived as an emerging sign of recovery. Year to year newly listed properties are up 10.3 percent while last month’s total inventory is 23.8 percent higher than June 2024. This June recorded a 9.8 percent decrease in residential sales compared to last June while the composite value of all properties is 2.8 percent lower June to June.
The graph shows a 2.4 percent decline from May to June for the average condominium sale price in Metro Vancouver. This June compared to last June, the overall benchmark price of an apartment is down 3.2 percent. Year to year condo sales volume drops 16.5 percent.
Vancouver east apartment prices are 3.5 percent lower last month than June 2024. June to June east side apartment sales decline 15 percent. Year to year east side condo inventory is 3.1 percent higher.
From May to June, east side apartment sales are up 6.9 percent. Month to month inventory rises 18.7 percent.