VANCOUVER WEST JULY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release highlights moderation forces dominating the July Metro Vancouver Real Estate Market. Conditions are aligning with typical seasonal patterns, although last month’s sales exceed the 10 year average for July by 13.3 percent. A price watch is on as our housing supply lowers, and the question is will demand for a smaller supply elevate or mitigate value? Sales of residential properties last month increase 6.3 percent compared to July 2020. New listings are 26.4 percent less year to year while the total inventory of listed properties is down 18.5 percent July to July. Last month the annual composite value of all properties rises 13.8 percent.
The graph shows a 3.6 percent gain in value from June to July for the average attached unit in Metro Vancouver. Last month compared to the previous July the benchmark townhouse price is up 16.7 percent. Year to year the volume of townhome sales is 0.5 percent higher.
Vancouver west townhouse prices rise 13.3 percent from July to July. Attached unit sales decrease 1.7 percent year to year. This July versus July 2020 inventory is 29.8 percent less.
West side attached sales drop 23 percent from June to July. Month to month Vancouver west attached inventory records a 41.6 percent decline.