VANCOUVER WEST JULY TOWNHOME MARKET
Attached please find the latest statistics from Greater Vancouver Realtors.
The News Release cautiously answers ‘yes’ to the question: will the signs of recovery seen in June continue into July? Last month Buyers, taking comfort in more certainty from the steady Bank of Canada rate, continue winnowing away at the healthy inventory that has built up. There is now a balancing trend in the Metro Vancouver market but continued accelerated buying could turn things more favourably for Sellers. Year to year newly listed properties are up 0.8 percent while last month’s total inventory is 19.8 percent higher than July 2024. This July recorded a two percent decrease in residential sales compared to last July while the composite value of all properties is 2.7 percent lower July to July.
From June to July the graph shows a 3.2 percent decline in prices for attached units in Metro Vancouver. Last month compared to July 2024, the benchmark townhouse price is down 2.3 percent. Year to year townhouse sales volume is five percent higher.
Vancouver west townhouse prices decline 1.9 percent from July to July. Attached unit sales are 17.6 percent lower year to year. Townhome inventory is up 7.5 percent this July versus last July.
From June to July Vancouver west attached sales drop 39.1 percent. West side attached inventory declines by 6.5 percent month to month.