VANCOUVER EAST AUGUST TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release has hopeful overtones even while Buyers remain shy and inventory continues to increase. Fall traditionally being a more active time and a series of recent cuts by the Bank of Canada are reasons for this optimism. Currently though, the market is balanced. Total inventory last month is 37 percent higher than August 2023 thanks in part to a 4.2 percent increase in new listings year to year. Residential sales are 17.5 percent lower August to August. The composite value of all properties is down 0.9 percent year to year.
From July to August the graph shows a 1.8 percent ebb in prices for attached units in Metro Vancouver. Last month compared to August 2023, the benchmark townhouse price dips 0.8 percent. Year to year townhouse sales volume decreases 12.3 percent.
Last month compared to August 2023 Vancouver east townhouse prices dip 1.8 percent. Year to year attached unit sales balloon 53.5 percent. From August to August inventory rises 62.8 percent.
From July to August east side attached sales are 10 percent higher. Month to month attached inventory is down 24.9 percent.