VANCOUVER EAST JUNE TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that last month, Real Estate sales are 23.3 percent below the 10 year average for June. Caution amongst Buyers, concerned with inflation and fluctuating interest rates, is mitigating their purchasing. Oversupply is not the cause of the current downward pressure on prices as inventory of new listings last month is 10.1 percent lower than June a year ago and total inventory of listed properties falls 3.8 percent year to year. Annual sales of all residential properties in Metro Vancouver decrease 35 percent last month. The composite value of all properties is 12.4 percent higher June to June.
From May to June the graph shows a 0.5 percent dip in value for the average attached unit in Metro Vancouver. Last month compared to the previous June the benchmark townhouse price is up 17.8 percent. Year to year the volume of townhome sales is down 36 percent.
This June compared to June 2021
May to June east side attached sales decline 3.8 percent. Month to month attached inventory decreases 31.5 percent.