VANCOUVER WEST JANUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that January 2022 sales of all residential properties are 25.3 percent above the 10 year average for the month. However they were still down by 4.4 percent last month compared to January 2021. Buyer apathy is not the issue, it’s a nagging low supply, and that has spawned heightened competition with subsequent upward pressure on prices. Annually, new listings drop 6.9 percent while the total inventory of listed properties falls 31.8 percent year to year. Last month the composite value of all properties is 18.5 percent higher than the previous January.
The graph shows from December to January, a hefty 9 percent jump in value for the average attached unit in Metro Vancouver. Last month compared to the previous January the benchmark townhouse price is up 24.3 percent. Year to year the volume of townhome sales is down 23.3 percent.
Vancouver west townhouse prices are up 14.9 percent from January to January. Attached unit sales elevate 28.9 percent year to year. This January versus January 2021 inventory is 16 percent higher.
West side attached sales increase 8.9 percent from December to January. Month to month Vancouver west attached inventory shows a 161.7 percent gain.