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Blog by Don Kennedy

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Vancouver East Townhomes 17 5

May Statistics

Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.


The News Release indicates that last month home sales stretched up to near record levels due to high demand by local buyers for apartments and townhomes. Those sales exceeded the 10 year average for the month of May by 23.7 percent. Residential sales drop 8.5 percent year to year which is a much smaller margin than any month so far in 2017. New listings last month are 3.9 percent lower than May 2016. The total inventory of listed properties is up by 5.7 percent annually. May to May the composite value of all Metro Vancouver properties is up 8.8 percent.


The graph illustrates further strengthening for the average price of attached units in Metro Vancouver, up 3.1 percent this May compared to April. Last month compared to the previous May the benchmark townhouse price increases 13.1 percent. With a 4.9 percent increase the year to year volume of townhome sales goes up for the first time in 2017.


Last month versus May 2016 Vancouver east townhouse prices increase 9.2 percent. Year to year attached unit sales are higher by 12.5 percent. May this year inventory is 42.4 percent more than last May.


From April to May east side attached sales remain positive with an increase of 12.5 percent. Month to month Vancouver east attached inventory expands by 19 percent.