VANCOUVER WEST MAY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release cautions that slower price growth is to be expected over the coming months. Borrowing costs, economic worries and government intervention are affecting Buyer and Seller behaviour as inventory grows but transactions decline. Residential sales are 19.6 percent lower May to May. Last month recorded 12.6 percent more new listings than May 2023. Total inventory is up 46.3 percent this May compared to last May. The composite value of all properties is up 2.3 percent year to year.
From April to May the graph shows a dip of 1.4 percent in prices for attached units in Metro Vancouver. Last month compared to May 2023, the benchmark townhouse price is up 5.2 percent. Year to year townhouse sales volume decreases 14 percent.
Vancouver west townhouse prices are 5 percent higher from May to May. Attached unit sales fall 14.7 percent year to year. Townhome inventory is up 34 percent this May versus last May.
From April to May west side attached sales drop 16.4 percent. Month to month, Vancouver west attached inventory sees a decrease of 29.4 percent.