VANCOUVER EAST NOVEMBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release starts to answer questions of whether the October surge in sales represents a trend or a one off. It turns out last month was not unique, as November recorded a 28.1 percent boost for residential sales compared to November 2023. The year to year composite value of all properties is 0.9 percent lower and so far inventory has kept prices steady, but a dip in available listings could renew upward pressure on them. November to November newly listed properties are up 10.6 percent. The total inventory is now 21.2 percent higher than November 2023.
The graph shows a 3.6 percent decline from October to November for the average condominium sale price in Metro Vancouver. This November compared to last November, the overall benchmark price of an apartment is down 1.2 percent. Year to year condo sales volume rises 28.1 percent.
Vancouver east apartment prices are 0.9 percent lower last month versus November 2023. November to November east side apartment sales escalate 51.9 percent. Year to year east side condo inventory decreases 35.8 percent.
From October to November, east side apartment sales are 8.6 percent lower. Month to month inventory falls 18 percent.