VANCOUVER EAST JANUARY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release emphasizes steadiness in describing January 2020 Real Estate activity for Metro Vancouver. It also queries whether the spring market will rise to meet the current Buyer demand. Last month residential detached, attached and apartment sales increase 42.4 percent compared to January 2019. Year to year the total inventory of listed properties recedes 20.3 percent while new listings are 20.1 percent lower in that same time period. January to January the composite value of all Metro Vancouver properties is down 1.2 percent.
The graph displays a 0.5 percent dip from December to January for the average Metro Vancouver condominium sale price. January 2020 compared to the previous January the overall benchmark price for apartments is one percent lower. Year to year, condo sales volume is up 45.6 percent.
Vancouver east apartment prices last month versus the previous January are surprisingly up if only marginally by 0.6 percent. January to January east side apartment sales are up a bountiful 62.5 percent. East side condo inventory declines 11.8 percent year to year.
Month to month east side apartment sales decrease by 20.4 percent. Inventory increases 119.2 percent from December to January.