VANCOUVER WEST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release outlines some surprises in March. Despite elevated borrowing costs and low inventory, spring sale so far exceed expectations. An offshoot of that is modest price increases. Many Sellers remain on the sideline which is evident by newly listed properties last month being 35.5 percent below March of 2022. Total inventory of listed properties is up 8.1 percent year to year. Sales of all residential properties in Metro Vancouver last month decline 42.5 percent compared to March 2022. The composite value of all properties is 9.5 percent lower March to March.
From February to March the graph illustrates an increase of 1.8 percent in value for the average attached unit in Metro Vancouver. Last month compared to the previous March the benchmark townhouse price is down 7.8 percent. Townhouse sales volume falls 37.3 percent year to year.
Vancouver west townhouse prices are down 9.4 percent from March to March. Attached unit sales drop 42.7 percent year to year. This March versus March 2022 inventory is 23.6 percent lower.
From February to March, west side attached sales recede by 2.3 percent. Month to month, Vancouver west attached inventory is 3.3 percent higher.