Vancouver West Townhouse Market
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release paints a robust picture for strata units to start 2018 but for detached homes not so much. The supply of apartments and townhomes is not meeting demand whereas houses are the only sector to slip under the 10 year sales average for January. Also the detached sales-to-active ration is now at 11.6 percent and a sustained period under the 12 percent threshold will likely put downward pressure on the value of those properties. Last month total residential sales increase 19.4 percent compared to January 2017. Year to year new listings are 8.3 percent lower while total inventory of listed properties is down 4 percent. The composite value of all Metro Vancouver properties increases 16.6 percent January 2018 over January 2017.
The graph records an increase of 2 percent for the average attached unit price for Metro Vancouver in January compared to December. Last month compared to January 2017 the benchmark townhouse price increases 17.5 percent. Year to year the volume of townhome sales is up 25.6 percent.
Last month versus January 2017 Vancouver west townhouse prices rise by 11.6 percent. This January compared to last January attached unit sales are at par. Year to year inventory is 11 percent higher.
From December to January west side attached sales decline by 7.7 percent. Month to month Vancouver west attached inventory is up a whopping 252.2 percent.