VANCOUVER WEST SEPTEMBER APARTMENT MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release describes last month’s market conditions as more balanced, with Sellers overcoming their reluctance to list due to fear of higher mortgage rates. With inventory a little above seasonal, pressure softens on prices. Newly listed properties last month are 28.4 percent better than the previous September and total inventory of listed properties increases 9.2 percent year to year. Sales of all residential properties in Metro Vancouver this September rise 13.2 percent compared to last September. The composite value of all properties is 4.4 percent higher September to September.
The graph shows a 13 percent increase from August to September for the average condominium sale price in Metro Vancouver. September 2023 compared to the previous September the overall benchmark price for an apartment is up 5.8 percent. Year to year condo sales volume improves 11.3 percent.
Last month compared to September 2022 the benchmark price for a west side apartment rises 4.7 percent. Vancouver west condo sales are 11.2 percent greater from September to September. Year to year west side apartment inventory is 27.4 percent higher.
From August to September Vancouver west apartment sales drop 25.4 percent. Month to month west side condo inventory is up 39.7 percent.