VANCOUVER EAST APRIL TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release expresses surprise that this April, absent lower interest rates, an inventory increase is seen. Also noted, it is NOT owners retreating from the higher cost of borrowing that is motivating them to sell. Higher inventory is being met with continued strength in demand and for most segments of the market this has resulted in upward pressure on prices. Last month recorded 64.7 percent more new listings than April 2023. Total inventory is up 42.1 percent. Residential sales are 3.3 percent higher April to April. The composite value of all properties rises 2.8 percent year to year.
From March to April the graph shows a dip of 0.8 percent in prices for attached units in Metro Vancouver. Last month compared to April 2023, the benchmark townhouse price is up 4.3 percent. Year to year townhouse sales volume is better by 16 percent.
Last month compared to April 2023 Vancouver east townhouse prices are 3.6 percent higher. Year to year attached unit sales increase 12.7 percent. From April to April inventory inflates 119.6 percent.
March to April east side attached sales are 9.9 percent higher. Month to month attached inventory is up 27.6 percent.