Welcome to the third instalment of The Fifth Dimension for 2017. The Fifth Dimension is our complimentary report on the multifamily residential real estate market in Metro Vancouver.
For yet another quarter the total number of new multifamily sales in Metro Vancouver exceeds 4,000 units. This total represents a 38 percent increase from the Third Quarter of 2016 and establishes a record for Third Quarters over the past ten years. Strong sales activity also resulted in a further decline in released and unsold inventory levels throughout the region. The supply issue remains and combined with astounding price escalation in the past 100 days, affordability challenges are exacerbated in numerous markets within the Metro Vancouver Area.