Vancouver East Townhomes
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release tells us that whatever the future influence of recent Provincial and now Federal legislation enacted to mitigate overheating in key Canadian markets, the intrinsic contraction of the market that dominated the summer in Greater Vancouver has spilled over into the first part of the fall. Metro Vancouver residential sales drop 32.6 percent last month compared to September of 2015 (a month that had witnessed significant annual growth). New listings of all property types are now in minus territory, down 1 percent year to year while the total inventory of listed properties is down by 13.4 percent September to September. However decreased sales have yet to influence prices as composite value is up 28.9 percent year to year.
The graph shows the average price of attached units rebounding in Greater Vancouver, up 1.6 percent in September compared to August. Last month compared to September 2015 the benchmark price for a townhome rises 29.1 percent. Attached unit sales year to year register a 32.2 percent decline.
Last month versus September 2015 Vancouver east townhouse prices increase by 34.1 percent. In September 2016 attached unit sales are 45.8 percent below the previous September. Year to year inventory is 23.6 percent higher.
Unlike other sectors of the market, from August to September east side attached sales show an increase of 8.3 percent. Month to month Vancouver east attached inventory increases 36 percent.