VANCOUVER WEST JULY 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 35.2 percent below the 10 year average for July. The resulting expansion of supply is giving Buyers more selection and time to decide but they remain cautious due to inflation and fluctuating interest rates. As a result, to the detriment of Sellers, prices are edging down. New listings last month are 9.5 percent lower than July a year ago and total inventory of listed properties falls 4.4 percent year to year. Annual sales of all residential properties in Metro Vancouver decrease 43.3 percent last month. The composite value of all properties is 10.3 percent higher July to July.
From June to July the graph shows a 2.5 percent drop in value for the average attached unit in Metro Vancouver. Last month compared to the previous July the benchmark townhouse price is up 11.4 percent. Year to year the volume of townhome sales is down 36.4 percent.
Vancouver west townhouse prices rise 7 percent from July to July. Attached unit sales plummet 50.9 percent year to year. This July versus July 2021 inventory is 12.6 percent higher.
West side attached sales drop 48.1 percent from June to July. Month to month, Vancouver west attached inventory declines 10.1 percent.