VANCOUVER EAST JULY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release points out that the bank of Canada began its series of interest rate hikes in July 2022, causing an immediate pull back in Buyer activity. Yet with interest rates now at their highest in a decade, year over year sales are up and so are prices as Buyers somehow adapt. Sales of all residential properties in Metro Vancouver this July rise 28.9 percent compared to last July. The composite value of all properties is 0.5 percent higher July to July. Newly listed properties last month are 17 percent better than the previous July but total inventory of listed properties is down 4 percent year to year.
From June to July the graph shows prices for attached units in Metro Vancouver dip 0.3 percent. Last month compared to the previous July, the benchmark townhouse price is up 1.2 percent. Year to year townhouse sales volume is 53.3 percent higher.
This July compared to July 2022 Vancouver east townhouse prices are 0.8 percent less. Year to year attached unit sales are 58.1 percent higher. Inventory is 12.4 percent more from July to July.
June to July east side attached sales are 6.8 percent less. Month to month attached inventory id down 1.7 percent.