VANCOUVER WEST FEBRUARY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on last month as having Sellers return to the market, adding 31.1 percent more new listings than February 2023. Total inventory is up 16.3 percent. This mitigates the market tilting into overheated conditions but doesn’t abate the accelerated prices that started the year due to Buyer demand. Residential sales are 13.5 percent higher February to February, the composite value of all properties is 4.5 percent higher year to year and the advantage seems to be moving in favour of Sellers.
The graph shows a 1.3 percent lift from January to February for the average condominium sale price in Metro Vancouver. This February compared last February, the overall benchmark price for an apartment is up 5.6 percent. Year to year condo sales volume rises 17.7 percent.
February 2024 versus the previous February, the benchmark price for west side condos increases 5.3 percent. Vancouver west apartment sales are up 27.2 percent February to February. Year to year west side apartment inventory sees a 37.9 percent rise.
From January to February, Vancouver west apartment sales are 40.9 percent higher. Month to month west side condo inventory ticks up 9.2 percent.