VANCOUVER WEST 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.
Vancouver west townhouse prices are 0.5 percent lower from September to September. Attached unit sales are up 13.7 percent year to year. Townhome inventory is 30.2 percent higher this September versus last September.
From August to September west side attached sales increase 31.6 percent. Month to month, Vancouver west attached inventory expands 86.5 percent.