VANCOUVER WEST NOVEMBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports quite an inventory bump for November. With the largest selection since 2021 running in counterpoint to the traditional fall slowdown of sales, prices have edged down a bit since summer. Meantime there is a consensus that mortgage rates will dip in 2024, so Buyers could be well advised to purchase sooner than later.
New listings in all sectors last month are up 4.7 percent compared to November 2022. Total inventory is up 13.5 percent year to year. Sales of all residential properties in Metro Vancouver this November rise 4.7 percent compared to last November. The composite value of all properties is 4.9 percent higher November to November.
From October to November the graph shows a 0.5 percent increase in prices for attached units in Metro Vancouver. Last month compared to the previous November, the benchmark townhouse price is up 6.9 percent. Year to year townhouse sales volume is 12.5 percent higher.
Vancouver west townhouse prices are up 2.9 percent from November to November. Attached unit sales rise 27.6 percent year to year. Townhome inventory drops 25.6 percent this November versus November 2022.
From October to November west side attached sales decrease 21.3 percent. Month to month, Vancouver west attached inventory declines 45.5 percent.