VANCOUVER EAST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports a pullback in the number of sales last month compared to March last year. However March 2021 is on record as the highest selling month in the history of Metro Vancouver and thus not easily surmountable. Sales this March are still 25.5 percent above the 10-year average for the month. Meantime our inventory of new listings last month is 19.5 percent lower than March a year ago and total inventory of listed properties falls 16.6 percent year to year. Annual sales may be down but there is no such decline in values as the chronic undersupply maintains ascending prices. Last month the composite value of all properties is 20.7 percent higher than the previous March.
From February to March the graph shows a 1.3 percent decline in value for the average attached unit in Metro Vancouver. Last month compared to the previous March the benchmark townhouse price is up 4.4 percent. Year to year the volume of townhome sales is down 29 percent.
This March compared to March 2021 Vancouver east townhouse prices rise 20 percent. Year to year attached unit sales are 16 percent lower. Inventory is down 15.8 percent from March to March.
February to March east side attached sales jump up 50 percent. Month to month attached inventory increases 27.9 percent.