VANCOUVER WEST JUNE TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release notes that well price properties are still selling quickly and another interest rate cut this summer could boost affordability enough to bring hesitant Buyers in from the sideline. Meantime Sellers have returned to the market in numbers but Buyer shyness has caused inventory to grow and the market continues to balance out. Last month recorded 7 percent more new listings than June 2023. Total inventory is up 42 percent this June compared to last June. Residential sales are 19.1 percent lower June to June. The composite value of all properties is up 0.5 percent year to year.
From May to June the graph shows a rise of 1.5 percent in prices for attached units in Metro Vancouver. Last month compared to June 2023, the benchmark townhouse price is up 3 percent. Year to year townhouse sales volume decreases 16.6 percent.
Vancouver west townhouse prices are 2.3 percent higher from June to June. Attached unit sales dip 4.8 percent year to year. Townhome inventory is up 32.3 percent this June versus last June.
From May to June west side attached sales improve 5.4 percent. Month to month, Vancouver west attached inventory increases 11.7 percent.