VANCOUVER WEST NOVEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release starts to answer questions of whether the October surge in sales represents a trend or a one off. It turns out last month was not unique, as November recorded a 28.1 percent boost for residential sales compared to November 2023. The year to year composite value of all properties is 0.9 percent lower and so far inventory has kept prices steady, but a dip in available listings could renew upward pressure on them. November to November newly listed properties are up 10.6 percent. The total inventory is now 21.2 percent higher than November 2023.
From October to November the graph shows prices for attached units in Metro Vancouver are down 3.3 percent. Last month compared to November 2023, the benchmark townhouse price is up 1.8 percent. Year to year townhouse sales volume is 42.7 percent higher.
Vancouver west townhouse prices rise 6.7 percent from November to November. Attached unit sales balloon 86.5 percent year to year. Townhome inventory shrinks 62.3 percent this November versus last November.
From October to November west side attached sales increase13.1 percent. Month to month, Vancouver west attached inventory tumbles 40.4 percent.