Vancouver East Townhomes
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release resolves that while prices for townhomes and apartments remain stable, detached homes are seeing modest declines month to month due to lower demand relative to supply. However the sales-to-listings percentage has not yet reached that critical point which would traditionally trigger downward pressure on prices. Whatever inference we can draw from this the fact is that composite value of all properties is up 20.5 percent year to year. Metro Vancouver residential sales drop 37.2 percent last month compared to November of 2015. New listings of all property types are down 7.2 percent year to year while the total inventory of listed properties is up by 3.6 percent November to November.
The graph tracks a positive about face for the average price of attached units in Greater Vancouver with a 5.3 percent increase in November compared to October. Last month compared to November 2015 the benchmark price for a townhouse rises 23 percent. Attached unit sales year to year register a 40.9 percent decline.
Last month versus November 2015 Vancouver east townhouse prices increase 22.2 percent. November this year attached unit sales are 42.5 percent below November 2015. Year to year inventory is up 29.7 percent.
From October to November east side attached sales are back in the doldrums with a 3.6 percent decrease. Vancouver east attached inventory falls 11.1 percent month to month.