VANCOUVER WEST 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.
Vancouver west townhouse prices rise 10.7 percent from August to August. Attached unit sales show a significant increase of 41 percent year to year. This August versus August 2020 inventory is 26.8 percent less.
West side attached sales jump 38.6 percent from July to August. Month to month Vancouver west attached inventory increases 3.4 percent.