VANCOUVER WEST OCTOBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release credits receding prices and low interest rates for a boost in buyer confidence. As a result October recorded sales above its 10 year month’s average for the first month in 2019. The sales-to-listings ratio suggests that even detached houses are being distanced from the danger zone. Last month residential detached, attached and apartment sales increase 45.4 percent compared to October 2018. Year to year the total inventory of listed properties dips 5.8 percent while new listings are down 16.4 percent in that same time period. October to October the composite value of all Metro Vancouver properties is down 6.4 percent.
The graph takes a 2 percent step down from September to October for the average Metro Vancouver condominium sale price. October 2019 compared to the previous October the overall benchmark price for apartments is 5.9 percent lower. Condo sales volume rises 40.5 percent Year to year.
Last month compared to October 2018, the benchmark price for west side apartments is 6.9 percent lower. Vancouver west condo sales are up 35.4 percent October to October. Year to year west side apartment inventory is 26.2 percent lower.
From September to October Vancouver west apartment sales see a 19.8 percent increase. Month to month west side condo inventory falls 24.2 percent.