VANCOUVER WEST NOVEMBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release outlines how Sellers are the beneficiaries of high demand. That demand is outpacing historical averages, thus stimulating prices especially for houses and townhomes. In November the composite value of all properties is up 5.8 percent. November to November residential detached, attached and apartment sales increase 22.7 percent. New listings year to year are up 36.2 percent. Still, the total inventory of listed properties is only up 3.2 percent.
The graph reveals a 4.2 percent decrease from October to November for the average Metro Vancouver condominium sale price. November 2020 compared to the previous November the overall benchmark price for an apartment is 3.4 percent higher. Year to year condo sales volume is up by 12.2 percent.
Last month compared to November 2019, the benchmark price for west side apartments is 1.8 percent higher. Vancouver west condo sales are up 3.2 percent November to November. Year to year west side apartment inventory increases 45.8 percent.
From October to November Vancouver west apartment sales drop 13.7 percent. Month to month west side condo inventory is 34.5 percent lower.