VANCOUVER EAST FEBRUARY TOWNHOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release outlines anticipation within Real Estate as to what effect rising interest rates and legislation from all levels of government will have on the traditionally most active spring market. Meantime February saw all sectors slip below the 10 year average for the first time in a while and detached properties are approaching the threshold of a buyers’ market. Last month total residential sales decrease 9 percent compared to February 2017. Year to year new listings are 15.2 percent higher and total inventory of listed properties is up 3 percent. The composite value of all Metro Vancouver properties increases 16.9 percent February 2018 over February 2017.
The graph records an increase of 3.8 percent for the average attached unit price for Metro Vancouver in February compared to January. Last month compared to February 2017 the benchmark townhouse price increases 18.1 percent. Year to year the volume of townhome sales dips down 0.7 percent.
Last month versus February 2017 Vancouver east townhouse prices increase 16.2 percent. Year to year attached unit sales continue to be higher by 32 percent. February 2018 inventory is 10 percent greater than the previous February.
East side attached sales dramatically improve by 48 percent from January to February. Month to month Vancouver east attached inventory goes up 9.6 percent.