VANCOUVER WEST SEPTEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports elevated Seller activity last month. Meanwhile, despite the growing inventory, Buyers are taking time to reflect in light of higher interest rates which curtail their purchasing power. As a result Real Estate sales show a dip to 35.7 percent below the 10 year average for September. This has brought about a softening in home values. New listings last month are 18.2 percent lower than September a year ago while total inventory of listed properties get an 8 percent lift year to year. Sales of all residential properties in Metro Vancouver decrease 46.4 percent last month versus September 2021. The composite value of all properties is 3.9 percent higher September to September.
From August to September the graph shows a one percent dip in value for the average attached unit in Metro Vancouver. Last month compared to the previous September the benchmark townhouse price is up 9.1 percent. Year to year the volume of townhome sales is down 52.6 percent.
Vancouver west townhouse prices are up 4.8 percent from September to September. Attached unit sales plummet 50 percent year to year. This September versus September 2021 inventory is 15.5 percent lower.
From August to September, west side attached sales decline 19.5 percent. Month to month, Vancouver west attached inventory is 24.1 percent lower.