VANCOUVER WEST SEPTEMBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release marvels at last month having the highest sales average ever for September, likely due to low interest rates and pandemic driven preference changes. Upward pressure on prices is the result. September 2020 compared to the preceding September sees the composite value of all properties up 5.8 percent. September to September residential detached, attached and apartment sales increase 56.2 percent. New listings year to year are up 31.6 percent yet the total inventory of listed properties is down by 2.6 percent.
The graph displays a 0.7 percent increase from August to September for the average Metro Vancouver condominium sale price. September 2020 compared to the previous September the overall benchmark price for an apartment is 4.5 percent higher. Year to year condo sales volume is up by 36.9 percent.
Last month compared to September 2019, the benchmark price for west side apartments is stronger by 3.6 percent. Vancouver west condo sales are 24.4 percent higher September to September. Year to year west side apartment inventory increases 43.1 percent.
From August to September Vancouver west apartment sales are up 10.2 percent. Month to month west side condo inventory adds 11.3 percent.