VANCOUVER WEST JUNE TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release opines that a Buyer / Seller standoff is underway in Metro Vancouver as hesitant Buyers try to time the optimum market entry point while Sellers struggle to realign value expectations rooted in a more robust past. The effect being that not since the year 2000 have average home sales been so low for the month of June. Last month residential detached, attached and apartment sales drop 14.4 percent compared to June 2018. Year to year the total inventory of listed properties is up 25.3 percent even with a decline in new listings of 10 percent in that same time period. June to June the composite value of all Metro Vancouver properties is down 9.6 percent.
The graph shows a downturn from May to June of 3.6 percent for the average attached unit price in Metro Vancouver. Last month compared to the previous June the benchmark townhouse price declines 8.6 percent. Year to year the volume of townhome sales is 6.9 percent less.
Year to year Vancouver west townhouse prices are 8.4 percent lower. June 2019 versus June 2018 attached unit sales are minus 18 percent. June to June inventory falls 6.5 percent.
West side attached sales reverse from May to June via a 25.5 percent fall. Month to month Vancouver west attached inventory is down 20.1 percent.