VANCOUVER EAST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release declares last month’s activity as unprecedented for volume of sales. At 72.2 percent above the 10 year average for March, it’s the highest ever sales total for any month. This March compared to March 2020, residential detached, attached and apartment sales increase 126.1 percent. New listings are up 86.8 percent year to year yet the total inventory of listed properties is down 4.8 percent March to March. As the economy recovers, Buyers seeking more space are encouraged by low interest rates and growing savings. Increased inventory is quickly absorbed by demand before supply can accumulate, which adds more upward pressure on prices. Last month the annual composite value of all properties is up 9.4 percent.
The graph shows a 1.5 percent value increase from February to March for the average attached unit in Metro Vancouver. Last month compared to the previous March the benchmark townhouse price increases 10.4 percent. Year to year the volume of townhome sales is 112.2 percent higher.
Last month compared to March 2020 Vancouver east townhouse prices see an 8 percent lift. Year to year attached unit sales are 112.8 percent higher. Inventory is way up, by 167.8 percent this March versus the previous March.
February to March east side attached sales are 17.6 percent higher. Month to month attached inventory is plus 95.1 percent.