VANCOUVER WEST NOVEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release forecasts this year’s home sales meeting and even exceeding all time records for Greater Vancouver. This is despite chronic low inventory. The ensuing upward pressure on prices is exacerbated by Buyers wanting to take advantage of lower rate holds in anticipation of expected higher interest rates. Sales of all residential properties last month are up 11.9 percent annually and 33.9 percent above the November average. New listings dip 2.6 percent November 2021 compared to last November while the total inventory of listed properties falls 35.7 percent year to year. Last month the annual composite value of all properties is 16 percent higher.
The graph shows a sharp increase in value of 5 percent from October to November for the average attached unit in Metro Vancouver. Last month compared to the previous November the benchmark townhouse price is up 20.2 percent. Year to year the volume of townhome sales is down three percent.
Vancouver west townhouse prices are up 12.7 percent from November to November. Attached unit sales improve 6.6 percent year to year. This November versus November 2020 inventory is 5.9 percent lower.
West side attached sales rise 15.6 percent from October to November. Month to month Vancouver west attached inventory decreases 9.1percent.