VANCOUVER EAST AUGUST TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release touts August as the wrap up of a summer reflecting a more normal Real Estate market. Buyers who were absent for the first six months of the year have returned and as a result have mitigated 2019’s amassing of housing inventory. Last month residential detached, attached and apartment sales increase 15.7 percent compared to August 2018. Year to year the total inventory of listed properties is up 13.3 percent while new listings are down 3.5 percent in that same time period. August to August the composite value of all Metro Vancouver properties is down 8.3 percent.
The graph shows an increase from July to August of 2.1 percent for the average attached unit price in Metro Vancouver. Last month compared to the previous August the benchmark townhouse price declines 7.8 percent. Year to year the volume of townhome sales is plus 21.4 percent.
Last month compared to August 2018 Vancouver east townhouse prices decline 9.6 percent. Year to year attached unit sales see a sizeable increase of 68.2 percent. This August inventory is 12.5 percent lower than the previous August.
July to August east side attached sales experience an 11.9 percent lag. Month to month attached inventory drops 37.5 percent.