VANCOUVER WEST MAY TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release suggests that Buyers appear to be trying to time the market, making for an unusually slow spring in Real Estate for Greater Vancouver. Sellers are now lowering their expectation, so if Buyers would take advantage of that price stabilizing factor along with favourable interest rates and inventory at 45.9 percent above the 10 year seasonal average, it would make for a busier than usual summer. Year to year newly listed properties are up 3.9 percent and last month’s total inventory is 25.7 percent higher than May 2024. Meantime this May recorded an 18.5 percent decrease in residential sales compared to last May. The composite value of all properties is 2.9 percent lower May to May.
From April to May the graph shows a 3.3 percent rise in prices for attached units in Metro Vancouver. Last month compared to May 2024, the benchmark townhouse price is down 3.4 percent. Year to year townhouse sales volume is 10.3 percent lower.
Vancouver west townhouse prices decline 4.9 percent from May to May. Attached unit sales are 17.9 percent lower year to year. Townhome inventory is up 24 percent this May versus last May.
From April to May west side attached sales jump 24.5 percent. Month to month, Vancouver west attached inventory is at par.