VANCOUVER EAST SEPTEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release remains hopeful that expected further interest rate cuts will draw shy Buyers into the marketplace and that 2024 will surpass 2023 in sales. Also highlighted is that the competition from a growing inventory is levelling prices, putting Greater Vancouver on the precipice of a market much more conducive to Buyers. September to September, their selection is enhanced by a 12. 8 percent increase in new listings. That adds to the total inventory which is now 31.2 percent higher than September 2023. The fact is though, residential sales are 3.8 percent lower September to September and the composite value of all properties is down 1.8 percent year to year.
From August to September the graph shows a 2 percent dip in prices for attached units in Metro Vancouver. Last month compared to September 2023, the benchmark townhouse price dips 0.5 percent. Year to year townhouse sales volume decreases 7.4 percent.
Last month compared to September 2023 Vancouver east townhouse prices are down 3.8 percent. Year to year attached unit sales really increase by 59.3 percent. From September to September inventory rises 35.3 percent.
From August to September east side attached sales drop 34.6 percent. Month to month attached inventory balloons 74.8 percent.