VANCOUVER WEST FEBRUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that the ongoing negative impact to all Sellers is persisting relentlessly. The continuing Buyer’s market reduced last month’s sales to 42.5 percent below the 10 year average for February. Active Buyers have more time to consider a wider inventory as we approach the traditionally more active spring market. Last month total Metro Vancouver residential sales shrink 32.8 percent compared to February 2018. Although new listings are down 7.8 percent for February 2019 versus February 2018, the total inventory of listed properties rises 48.2 percent in that same time period. The composite value of all Metro Vancouver properties decreases 6.1 percent year to year.
The graph illustrates a good upturn of 5.2 percent for the average attached unit price in Metro Vancouver from January to February. Last month compared to the previous February the benchmark townhouse price declines 3.3 percent. Year to year the volume of townhome sales is down 30.9 percent.
Last month versus February 2018 Vancouver west townhouse prices are 3.3 percent lower. February to February attached unit sales drop 45.4 percent. Year to year inventory is 2 percent lower.
West side attached sales continue to trend positive month to month with a 20 percent increase. From January to February Vancouver west attached inventory falls 18.3 percent.