VANCOUVER WEST MARCH TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release observes this year beginning like 2023 when we saw a flat start only to witness momentum gaining through spring and into summer. Meantime paradoxically, the experience last month was a Buyers market absent of Buyers. You have to go back to March of 2019 for sales as low as this March yet mortgage rates are low, prices are easing and there is ample inventory. Year to year newly listed properties are up 29 percent. The total inventory is now 37.9 percent higher than March 2024. Meantime this March recorded a 13.4 percent decrease in residential sales compared to last March. The composite value of all properties is 0.6 percent lower March to March.
From February to March the graph shows a 0.2 percent dip in prices for attached units in Metro Vancouver. Last month compared to March 2024, the benchmark townhouse price is reduced 0.8 percent. Year to year townhouse sales volume is 4.6 percent lower.
Vancouver west townhouse prices uptick 0.5 percent from March to March. Attached unit sales are 12.1 percent lower year to year. Townhome inventory expands 45.7 percent this March versus last March.
From February to March west side attached sales jump 45.7 percent. Month to month, Vancouver west attached inventory is up 31.2 percent.