Vancouver East October Townhome Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release headlines the continuing Metro Vancouver Real Estate trend of exceeding 10 year sales averages as last month transcends that of October by 15 percent. Robust activity in the apartment and attached sectors (due in part to the upcoming tightening of mortgage qualification) is behind most of the surge but with the sales-to-active listings ratio for detached properties now at 16.8 percent it suggests a rebound from the slide over the summer to that 12 percent threshold which triggers downward pressure on value. October 2017 total residential sales increase 35.3 percent from last October. Year to year new listings are 14 percent higher however total inventory of listed properties dips 0.1 percent October to October. The composite value of all Metro Vancouver properties is up 12.4 percent last month compared to October 2016.
The graph records a marginal increase of 0.7 percent for the average attached unit price in Metro Vancouver this October compared to September. Last month compared to October 2016 the benchmark townhouse increases in price 17.7 percent. Year to year the volume of townhome sales is up 36.5 percent.
Last month versus October 2016 Vancouver east townhouse prices increase 10.7 percent. Year to year attached unit sales are higher by 42.8 percent. October this year inventory is 87 percent higher than last October.
East side attached sales dip down 2.4 percent from September to October. Month to month Vancouver east attached inventory increases 24.7 percent.