VANCOUVER WEST DECEMBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on 2019 as being unconventional. The traditionally robust spring market was dormant as Buyers awaited the effects of various government policies. This resulted in a below average year which none the less experienced much resilience in its second half.
December saw that rebound continue as residential detached, attached and apartment sales increase 88.1 percent compared to December 2018. Year to year the total inventory of listed properties increases 16.3 percent while new listings are up 12.9 percent in that same time period. December to December the composite value of all Metro Vancouver properties is down 3.1 percent.
The graph displays a 0.4 percent dip from November to December for the average Metro Vancouver condominium sale price. December 2019 compared to the previous December the overall benchmark price for apartments is 2.7 percent lower. Year to year, condo sales volume almost doubles, up 96.8 percent.
Last month compared to December 2018, the benchmark price for west side apartments is 3 percent lower. Vancouver west condo sales shoot up 87 percent December to December. Year to year west side apartment inventory is up 16.6 percent.
From November to December Vancouver west apartment sales see a 14.8 percent decline. Month to month west side condo inventory is down 46.9 percent.