VANCOUVER EAST MAY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reinforces premonitions that this year’s record breaking activity might not be sustainable as sales activity eased last month. Revised mortgage stress tests and mortgage rates edging up could be mitigating factors heading into summer. Still, May sales are significantly above the 10 year average for that month. Sales of residential properties last month increase 187.4 percent compared to May 2020. New listings are 93.4 percent more year to year while the total inventory of listed properties is up 10.5 percent May to May. Last month the annual composite value of all properties rises 14 percent.
The graph shows a 0.4 percent higher value from April to May for the average attached unit in Metro Vancouver. Last month compared to the previous May the benchmark townhouse price is greater by 16.3 percent. Year to year the volume of townhome sales improves 168 percent.
Last month compared to May 2020 Vancouver east townhouse prices see a 9.7 percent lift. Year to year attached unit sales are 136 percent higher. Inventory is up by 67.1 percent this May versus the previous May.
April to May east side attached sales drop 35.9 percent lower. Month to month attached inventory is down 6.6 percent.