VANCOUVER WEST JANUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release expresses surprise at January’s jump in home sales. Undaunted by low inventory, last month Buyers pushed residential sales 38.5 percent higher than January 2023. Conditions appear to be shifting back in favour of Sellers. It’s still early days in the year but if this trend continues it could mean a higher than forecast increase in home value for 2024. New listings in all sectors last month are up 14.5 percent compared to January 2023. Total inventory is up 9.8 percent year to year. The composite value of all properties is 4.2 percent higher January to January.
From December to January the graph shows a 3.1 percent increase in prices for attached units in Metro Vancouver. Last month compared to January 2023, the benchmark townhouse price is up 4.3 percent. Year to year townhouse sales volume is a significant 82.7 percent higher.
Vancouver west townhouse prices are up 9 percent from January to January. Attached unit sales dip 5 percent year to year. Townhome inventory is up 14.6 percent this January versus last January.
From December to January west side attached sales decrease 17.4 percent. Month to month, Vancouver west attached inventory sees an explosive increase of 325 percent.