VANCOUVER WEST JUNE TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release implies that Buyers should not wait much longer to take advantage of the current high inventory, low interest rates and stable prices as there is now cautious optimism for Greater Vancouver Real Estate. While most segments of the market remain in balance and thus moderating prices, last month’s sales declined by half of the drop seen in May, which means inventory levels are escalating less. This is perceived as an emerging sign of recovery. Year to year newly listed properties are up 10.3 percent while last month’s total inventory is 23.8 percent higher than June 2024. This June recorded a 9.8 percent decrease in residential sales compared to last June while the composite value of all properties is 2.8 percent lower June to June.
From May to June the graph shows a 0.8 percent dip in prices for attached units in Metro Vancouver. Last month compared to June 2024, the benchmark townhouse price is down three percent. Year to year townhouse sales volume is 3.7 percent higher.
Vancouver west townhouse prices decline 4 percent from June to June. Attached unit sales are 17 percent lower year to year. Townhome inventory is up 1.7 percent this June versus last June.
From May to June Vancouver west attached sales rise 4.5 percent. West side attached inventory declines by 11.5 percent month to month.