VANCOUVER WEST OCTOBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports that the Real Estate market is languishing near historic lows as last month’s sales dipped 33.3 percent under the 10-year October average. Rising interest rates and elevated inventory are causing downward pressure on value. New listings last month are 0.4 percent lower than October a year ago but the total inventory of listed properties is up 22.6 percent year to year. Sales of all residential properties in Metro Vancouver last month decline 45.5 percent compared to October 2021. The composite value of all properties is 2.1 percent higher October to October.
From September to October the graph shows a 9.5 percent jump in value for the average attached unit in Metro Vancouver. Last month compared to the previous October the benchmark townhouse price is up 7.1 percent. Year to year the volume of townhome sales plummets 44.8 percent.
Vancouver west townhouse prices are up 6.7 percent from October to October. Attached unit sales are down 51.5 percent year to year. This October versus October 2021 inventory is 23.4 percent lower.
From September to October, west side attached sales are at par. Month to month, Vancouver west attached inventory is 3.1 percent lower.