VANCOUVER EAST AUGUST TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release states that under supply and not a lack of Buyer enthusiasm is behind declining sales. Never the less, last month’s sales exceed the 10 year average for August by 20.4 percent. Sales of residential properties this August increase 3.4 percent compared to August 2020. However new listings are 30.6 percent less year to year while the total inventory of listed properties is down 29.7 percent August to August. With a lower supply, prices that Buyers are paying are edging up. Last month the annual composite value of all properties rises 13.2 percent.
The graph shows a slight gain in value from July to August of 0.1 percent for the average attached unit in Metro Vancouver. Last month compared to the previous August the benchmark townhouse price is up 16.5 percent. Year to year the volume of townhome sales is 7.1 percent less.
Last month compared to August 2020 Vancouver east townhouse prices appreciate 13.1 percent. Year to year attached unit sales are 28.6 percent lower. Inventory is down 36.4 percent this August versus the previous August.
July to August east side attached sales fall 29.8 percent. Month to month attached inventory is up 2.7 percent.