VANCOUVER EAST JULY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release heralds a resurrection of Buyer demand in a normally tranquil July. As a matter of fact last month was the second highest selling month of 2019. Despite Federal stress tests for mortgages, interest rates remain low and prices have abated, likely enticing Buyers into the market. Last month residential detached, attached and apartment sales increase 23.5 percent compared to July 2018. Year to year the total inventory of listed properties is up 17.3 percent while new listings are down 3.3 percent in that same time period. July to July the composite value of all Metro Vancouver properties is 9.4 percent less.
The graph shows an upturn from June to July of 1 percent for the average attached unit price in Metro Vancouver. Last month compared to the previous July the benchmark townhouse price declines 9 percent. Year to year the volume of townhome sales is 33.6 percent stronger.
Last month compared to July 2018 Vancouver east townhouse prices are 8.5 percent lower. Year to year attached unit sales see a big increase of 44.8 percent. This July inventory is 1.4 percent higher than the previous July.
June to July east side attached sales turn around with a 22.4 percent lift. Month to month attached inventory dips 7.1 percent.