VANCOUVER EAST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release harkens all the way back to 1986 before finding a March in Vancouver with matching low sales numbers. The growing economy and low unemployment fuel demand for housing but willing Buyers are stymied by policy introduced from every level of government that is both longstanding and accumulating. Last month total Metro Vancouver residential sales diminish 31.4 percent compared to March 2018. New listings are up 11.2 percent year to year while the total inventory of listed properties increases 52.4 percent in that same time period. The composite value of all Metro Vancouver properties declines 7.7 percent March 2019 versus March 2018.
The graph illustrates a modest upturn of 0.6 percent for the average attached unit price in Metro Vancouver from February to March. Last month compared to the previous March the benchmark townhouse price declines 6 percent. Year to year the volume of townhome sales is down 27.1 percent.
Last month compared to March 2018 Vancouver east townhouse prices are 9.6 percent lower. Year to year attached unit sales decline by 36.3 percent. This March inventory is 10.9 percent less than the previous March.
February to March east side attached sales about face with a 9.7 percent decline. Month to month attached inventory is 4.8 percent more.