VANCOUVER WEST OCTOBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports no slowdown in October of recent frenzied activity, with sales nearing a record for that month. The pandemic has caused a shift in attention to housing and Realtors remain diligent in creatively helping Buyers safely meet their needs. October 2020 compared to the preceding October sees the composite value of all properties up six percent. October to October residential detached, attached and apartment sales increase 29 percent. New listings year to year are up 36.7 percent but the total inventory of listed properties is only up a mere 1.5 percent.
The graph reveals a 1.9 percent decrease from September to October for the average Metro Vancouver condominium sale price. October 2020 compared to the previous October the overall benchmark price for an apartment is 4.4 percent higher. Year to year condo sales volume is up by 13.4 percent.
Last month compared to October 2019, the benchmark price for west side apartments is 3.9 percent higher. Vancouver west condo sales are down 0.6 percent October to October. Year to year west side apartment inventory increases 64.4 percent.
From September to October Vancouver west apartment sales dip 3.2 percent. Month to month west side condo inventory is 12.9 percent lower.