VANCOUVER WEST 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.
Vancouver west townhouse prices are 1.5 percent higher from April to April. Attached unit sales balloon 103 percent year to year. Townhome inventory is up 109.6 percent this April versus last April.
From March to April west side attached sales grow 15.5 percent. Month to month, Vancouver west attached inventory sees an increase of 71.7 percent.