VANCOUVER WEST FEBRUARY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports higher demand and lower supply as vanguard hallmarks for this year. As a result, upward pressure on value is re-emerging as are multiple offers.
Last month residential detached, attached and apartment sales increase 44.9 percent compared to February 2019. Year to year the total inventory of listed properties declines 20.7 percent while new listings are 2.8 percent higher in that same time period. February to February the composite value of all Metro Vancouver properties is up 0.3 percent.
The graph displays a 0.2 percent uptick from January to February for the average Metro Vancouver condominium sale price. February 2020 compared to the previous February the overall benchmark price for apartments is 0.6 percent higher. Year to year, condo sales volume is up 45.8 percent.
Last month compared to February 2019, the benchmark price for west side apartments is up 1.5 percent. Vancouver west condo sales increase 40.3 percent February to February. Year to year west side apartment inventory is down 18 percent.
From January to February Vancouver west apartment sales are up 24.3 percent. Month to month west side condo inventory dips 1.6 percent.