VANCOUVER WEST FEBRUARY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release assumes that some of the most favourable conditions since before the pandemic are approaching for Buyers, who may get another break on interest rates this month. We should see a flat trajectory for prices and a fairly balanced spring, even though Sellers have slowed in coming to the market. February to February newly listed properties are up only 10.9 percent. The total inventory is now 32.3 percent higher than February 2024. Meantime this February recorded an 11.7 percent decrease in residential sales compared to last February. The year to year composite value of all properties is 1.1 percent lower.
From January to February the graph shows a 0.5 percent uptick in prices for attached units in Metro Vancouver. Last month compared to February 2024, the benchmark townhouse price is reduced 1.2 percent. Year to year townhouse sales volume is 10.9 percent lower.
Vancouver west townhouse prices dip 0.4 percent from February to February. Attached unit sales are down 23.9 percent year to year. Townhome inventory falls 25.9 percent this February versus last February.
From January to February west side attached sales decline 7.9 percent. Month to month, Vancouver west attached inventory decreases 25 percent.