VANCOUVER EAST SEPTEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release laments that the summer Real Estate doldrums are spilling over into fall. The supply of housing has reached a level not seen since 2014 as low Buyer demand has precipitated a backlog of inventory. Detached houses clearly no longer enjoy their long standing Sellers market while the apartment and townhouse markets are now in balance. Last month total residential sales are down 43.5 percent compared to September 2017. September to September new listings decrease 1.8 percent while the total inventory of listed properties is up 38.2 percent year to year. Last month the composite value of all Metro Vancouver properties increases 2.2 percent over the previous September.
The graph about faces with an increase of 7.5 percent from August to September for the average attached unit price in Metro Vancouver. Last month compared to September 2017 the benchmark townhouse price rises by 6.4 percent. Year to year the volume of townhome sales is down 46.9 percent.
Last month versus September 2017 Vancouver east townhouse prices increase 2.6 percent. Year to year attached unit sales decline by 34.1 percent. This September inventory is 8.6 percent more than the previous September.
East side attached sales go positive from August to September, up 22.7 percent. There was lots of selection as Month to month Vancouver east attached inventory is 120 percent higher.