VANCOUVER WEST DECEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reflects on how successful the 2020 Real Estate market was despite a raging pandemic. Although moribund for a short period in spring, the Real Estate industry quickly adapted to safely meet the needs of Buyers and Sellers for the rest of the year. Total annual sales and listings did dip slightly below the region’s 10 year average, but a strong push at year’s end brought activity in line with the region’s long term average.
December 2020 records the highest sales average ever for that month. Compared to December 2019, residential detached, attached and apartment sales increase 53.4 percent. Last month the annual composite value of all properties is up 5.4 percent. New listings year to year are up 51.7 percent. However the total inventory of listed properties is actually down 0.8 percent December to December.
The graph shows a minor dip of 0.3 percent in value from November to December for the average attached unit in Metro Vancouver. Last month compared to the previous December the benchmark townhouse price is 4.9 percent better. Year to year the volume of townhome sales is 62.9 percent higher.
Last month compared to December 2019 Vancouver east townhouse prices are up 1.3 percent. Year to year attached unit sales are a healthy 94.3 percent higher. This December versus the previous December inventory balloons by 183.3 percent.
November to December east side attached sales are 3 percent more. Month to month attached inventory is down 47.4 percent.