VANCOUVER WEST 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.
Vancouver west townhouse prices are 0.4 percent lower from August to August. Attached unit sales decline 15.5 percent year to year. Townhome inventory is 2.9 percent lower this August versus last August.
From July to August west side attached sales decrease 25.5 percent. Month to month, Vancouver west attached inventory falls 29.3 percent.