VANCOUVER WEST JUNE TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release attributes this year’s continued rise of benchmark prices for all residential housing in the face of higher interest rates, to low supply not meeting the demands of a growing population seeking home ownership. Apartment properties are doing particularly well, rising above their 10 year average for June yet when combined with other segments, this June is below its overall 10 year sales average. Newly listed properties last month are 1.3 percent better than June of 2022 but total inventory of listed properties is down 7.9 percent year to year. Sales of all residential properties in Metro Vancouver this June rise 21.1 percent compared to last June. The composite value of all properties is 2.4 percent lower year to year.
From May to June the graph shows a 0.6 percent dip in price for attached units in Metro Vancouver. Last month compared to the previous June, the benchmark townhouse price is down one percent. Year to year townhouse sales volume is 17.6 percent higher.
Vancouver west townhouse prices are up 1.5 percent from June to June. Attached unit sales rise 14.8 percent year to year. This June versus June 2022, inventory is 16.2 percent higher.
From May to June west side attached sales are down 8.8 percent. Month to month, Vancouver west attached inventory increases 13 percent.