VANCOUVER WEST OCTOBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release opines that rising mortgage rates may eventually soften the current relentless demand but in the meantime the spectre of higher interest has motivated Buyers to make a move before their prequalification expires. Sales of all residential properties last month did decline 5.2 percent year to year, but were 22.4 percent above the October average even while supply is the lowest in three years. New listings are down 27.3 percent October 2021 compared to October 2020, while the total inventory of listed properties falls 35.3 percent year to year. Still, last month the annual composite value of all properties is 14.7 percent higher.
The graph shows a modest dip of 0.9 percent from September to October in value for the average attached unit in Metro Vancouver. Last month compared to the previous October the benchmark townhouse price is up 18.5 percent. Year to year the volume of townhome sales is down 22.9 percent.
Vancouver west townhouse prices are up 12.3 percent from October to October. Attached unit sales show a slight decrease of 2.8 percent year to year. This October versus October 2020 inventory is 6.8 percent lower.
West side attached sales rise 3 percent from September to October. Month to month Vancouver west attached inventory increases 6.9 percent.