VANCOUVER WEST MAY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports May being in lockstep with preceding months in 2018 by showing sales well below the 10 year average for the month. Although available listings, which are also below average for May, could be a contributing factor to diminished activity the likely culprit pointed out is declining Buyer demand. Today prudent pricing by Sellers is necessary for success. Last month total residential sales decline 35.1 percent compared to May 2017. Total inventory of listed properties is up 38.2 percent year to year with a 5.5 increase in new listings contributing to that total. The composite value of all Metro Vancouver properties is up 11.5 percent last month over the previous May.
The graph displays a minor increase of 0.6 percent from April to May for the average attached unit price in Metro Vancouver. Last month compared to May 2017 the benchmark townhouse price rises by 16 percent. Year to year the volume of townhome sales is down 39.8 percent.
Last month versus May 2017 Vancouver west townhouse prices are up 8.5 percent. This May compared to last May attached unit sales are down 31.2 percent. Year to year inventory is 43.7 percent higher.
From April to May west side attached sales continue to escalate with a 17 percent increase. Month to month Vancouver west attached inventory is up 24.8 percent.