VANCOUVER WEST AUGUST TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that last month, Real Estate sales are 29.2 percent below the 10 year average for August. Buyers and Sellers are reassessing their motivation in light of upward pressure on interest rates and in turn, inflation. The result of this wait-and-see zeitgeist is a continued downward trend for prices. New listings last month are 17.5 percent lower than August a year ago while total inventory of listed properties rises 7.3 percent year to year. Sales of all residential properties in Metro Vancouver decrease 40.7 percent last month versus August 2021. The composite value of all properties is 7.4 percent higher August to August.
From July to August the graph shows a 4.3 percent fall in value for the average attached unit in Metro Vancouver. Last month compared to the previous August the benchmark townhouse price is up 12.7 percent. Year to year the volume of townhome sales is down 38.4 percent.
Vancouver west townhouse prices rise 7 percent from August to August. Attached unit sales plummet 48.1 percent year to year. This August versus August 2021 inventory is 12.2 percent lower.
From July to August, west side attached sales soar, up 46.4 percent. Month to month, Vancouver west attached inventory declines 19.4 percent.