VANCOUVER WEST MAY APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release discusses a higher comfort level among Buyers and Sellers as they acclimate to the physical distancing requirements of WorkSafeBC and the provincial health office. Meantime home prices have so far remained unaffected by Covid 19 sequestering. May to May the composite value of all Metro Vancouver properties is up 2.9 percent. This May, residential detached, attached and apartment sales decrease 43.7 percent compared to May 2019. Year to year the total inventory of listed properties declines 32.4 percent. In the same time period new listings are down 37.1 percent.
The graph displays a 4.4 percent jump from April to May for the average Metro Vancouver condominium sale price. May 2020 compared to the previous May the overall benchmark price for an apartment is 3 percent higher. Year to year condo sales volume falls 47.6 percent.
Last month compared to May 2019, the benchmark price for west side apartments increases 5.6 percent. Vancouver west condo sales diminish 44.5 percent May to May. Year to year west side apartment inventory is 20.7 percent lower.
From April to May Vancouver west apartment sales rise 37.2 percent. Month to month west side condo inventory expands 71.2 percent.