VANCOUVER EAST JULY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release trumpets Metro Vancouver Real Estate activity exceeding the 10 year July average by 9.4 percent and attributes the buoyant market to low interest rates, exciting demand that is being met by a tight supply. Compared to July 2019, this July the composite value of all properties is up 4.5 percent. July to July residential detached, attached and apartment sales increase 22.3 percent. While the year to year total inventory of listed properties declines 15.1 percent, in the same time period new listings are up 28.9 percent.
The graph displays a modest 0.2 percent dip from June to July for the average Metro Vancouver condominium sale price. July 2020 compared to the previous July the overall benchmark price for an apartment is 4.2 percent higher. Year to year condo sales volume is up by 12.6 percent.
Vancouver east apartment prices last month versus the previous July are up by 4.6 percent. July to July east side apartment sales increase by 21.9 percent. Year to year east side condo inventory is 57.8 percent higher.
June to July east side apartment sales see a 20 percent increase. Month to month inventory is 6.4 percent greater.