VANCOUVER EAST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports the regions lowest first quarter sales total in five years as mortgage stress tests, increased interest rates, new taxes and elevated prices lower demand. However low inventory due to fewer homes listed for sale maintains upward pressure on value. Last month total residential sales decline 29.7 percent compared to March 2017. Although total inventory of listed properties is up 10.5 percent year to year new listings are 6.6 percent lower. The composite value of all Metro Vancouver properties increases 16.1 percent March 2018 over March 2017.
The graph displays an increase of 2.9 percent from March to February for the average attached unit price in Metro Vancouver. Last month compared to March 2017 the benchmark townhouse price increases 17.7 percent. Year to year the volume of townhome sales is down 24.1 percent.
Last month versus March 2017 Vancouver east townhouse prices increase 22.2 percent. Year to year attached unit sales are lower by 2.2 percent. March 2018 inventory is remarkably higher than the previous March by 43.1 percent.
East side attached sales are up 18.9 percent from February to March. Month to month Vancouver east attached inventory rises 10.6 percent.