VANCOUVER WEST 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.
Last month compared to August 2019, the benchmark price for west side apartments increases 5.7 percent. Vancouver west condo sales are 8.9 percent higher August to August. Year to year west side apartment inventory increases 97.5 percent.
From July to August Vancouver west apartment sales rise 1.2 percent. Month to month west side condo inventory is up by 0.9 percent.