VANCOUVER WEST FEBRUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reiterates that low inventory and high demand remain a recurring theme for the first part 2021. Buyers taking advantage of low interest rates are depleting a supply which can’t keep up, pressuring prices higher. Last month the annual composite value of all properties is up 6.8 percent. Townhomes are the biggest beneficiaries, as are smaller communities. Last month Compared to February 2020, residential detached, attached and apartment sales increase 73.3 percent, which is 42.8 percent above the average for that month. Despite new listings being up 26.1 percent year to year, the total inventory of listed properties is down 9.1 percent February to February.
The graph shows a 6.3 percent added value from January to February for the average attached unit in Metro Vancouver. Last month compared to the previous February the benchmark townhouse price increases 7.2 percent. Year to year the volume of townhome sales is a robust 84.2 percent higher.
Vancouver west townhouse prices rise 2.4 percent from February to February. Attached unit sales are 46.5 percent higher year to year. This February versus February 2020 inventory is up 5.9 percent.
West side attached sales are 65.8 percent better from January to February. Month to month Vancouver west attached inventory falls 14.2 percent.