VANCOUVER EAST AUGUST TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on how the 2023 Real Estate market ran counter to predictions of a slowdown for some time by showing strong sales and price gains. However with summer winding down the effects of high borrowing costs seem to have finally impeded the hyper activity and we are likely entering a time of a more normal seasonal pattern. Sales of all residential properties in Metro Vancouver this August rise 21.4 percent compared to last August. The composite value of all properties is 2.5 percent higher August to August. Newly listed properties last month are 18.1 percent better than the previous August and total inventory of listed properties increases 0.2 percent year to year.
From July to August the graph shows an upward creep of 0.1 percent in prices for attached units in Metro Vancouver. Last month compared to the previous August, the benchmark townhouse price is up 3.9 percent. Year to year townhouse sales volume is 18.9 percent higher.
This August compared to August 2022 Vancouver east townhouse prices are up 3.7 percent. Year to year attached unit sales are 17.3 percent lower. Inventory is down 14.3 percent from August to August.
July to August east side attached sales drop 36.8 percent. Month to month attached inventory falls 33.9 percent.