VANCOUVER WEST JULY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release trumpets Metro Vancouver Real Estate activity exceeding the 10 year July average by 9.4 percent and attributes the buoyant market to low interest rates, exciting demand that is being met by a tight supply. Compared to July 2019, this July the composite value of all properties is up 4.5 percent. July to July residential detached, attached and apartment sales increase 22.3 percent. While the year to year total inventory of listed properties declines 15.1 percent, in the same time period new listings are up 28.9 percent.
The graph displays a modest 0.2 percent dip from June to July for the average Metro Vancouver condominium sale price. July 2020 compared to the previous July the overall benchmark price for an apartment is 4.2 percent higher. Year to year condo sales volume is up by 12.6 percent.
Last month compared to July 2019, the benchmark price for west side apartments increases 5.6 percent. Vancouver west condo sales inch down by 4 percent July to July. Year to year west side apartment inventory is 44.3 percent higher.
From June to July Vancouver west apartment sales rise 20.3 percent. Month to month west side condo inventory is up by 5.2 percent.