VANCOUVER EAST JANUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that January 2022 sales of all residential properties are 25.3 percent above the 10 year average for the month. However they were still down by 4.4 percent last month compared to January 2021. Buyer apathy is not the issue, it’s a nagging low supply, and that has spawned heightened competition with subsequent upward pressure on prices. Annually, new listings drop 6.9 percent while the total inventory of listed properties falls 31.8 percent year to year. Last month the composite value of all properties is 18.5 percent higher than the previous January.
The graph shows from December to January, a hefty 9 percent jump in value for the average attached unit in Metro Vancouver. Last month compared to the previous January the benchmark townhouse price is up 24.3 percent. Year to year the volume of townhome sales is down 23.3 percent.
This January compared to January 2021 Vancouver east townhouse prices rise 17.9 percent. Year to year attached unit sales are down 2.1 percent. Inventory is 2.5 percent lower from January to January.
December to January east side attached sales show a 16.1 percent loss. Month to month attached inventory is significantly increased by 163.3 percent.