VANCOUVER WEST MARCH APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release affirms that we have entered uncharted territory indefinitely.
Meantime Realtors are taking their essential service designation very seriously, ensuring the safety of public health while handling the business of those who still want/need to buy and sell Real Estate.
While the month begins with continuing recovery, the latter half of March sees a regression as the result of the Covid 19 pandemic. Last month residential detached, attached and apartment sales increase 46.1 percent compared to March 2019. Year to year the total inventory of listed properties declines 24.8 percent while new listings are 10.4 percent lower in that same time period. March to March the composite value of all Metro Vancouver properties is up 2.1 percent.
The graph displays a 5 percent jump from February to March for the average Metro Vancouver condominium sale price. March 2020 compared to the previous March the overall benchmark price for apartments is 2.9 percent higher. Year to year, condo sales volume is up 35.1 percent
Last month compared to March 2019, the benchmark price for west side apartments is up 5.4 percent. Vancouver west condo sales increase 31 percent March to March. Year to year west side apartment inventory is down 12.9 percent.
From February to March Vancouver west apartment sales are up 18 percent. Month to month west side condo inventory rises 21.7 percent.