VANCOUVER WEST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release declares last month’s activity as unprecedented for volume of sales. At 72.2 percent above the 10 year average for March, it’s the highest ever sales total for any month. This March compared to March 2020, residential detached, attached and apartment sales increase 126.1 percent. New listings are up 86.8 percent year to year yet the total inventory of listed properties is down 4.8 percent March to March. As the economy recovers, Buyers seeking more space are encouraged by low interest rates and growing savings. Increased inventory is quickly absorbed by demand before supply can accumulate, which adds more upward pressure on prices. Last month the annual composite value of all properties is up 9.4 percent.
The graph shows a 1.5 percent value increase from February to March for the average attached unit in Metro Vancouver. Last month compared to the previous March the benchmark townhouse price increases 10.4 percent. Year to year the volume of townhome sales is 112.2 percent higher.
Vancouver west townhouse prices rise 4.9 percent from March to March. Attached unit sales are 103.8 percent higher year to year. This March versus March 2020 inventory is up by 128.9 percent.
West side attached sales are up 68.3 percent from February to March. Month to month Vancouver west attached inventory expands 126.4 percent.