VANCOUVER WEST OCTOBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release reports this October’s sales to be 30 percent below the 10 year average for the month. Borrowing costs are the highest in over a decade and remain a significant barrier for Buyers. This even while Sellers move off the sideline as last month new listings in all sectors are up 15.4 percent compared to October 2022. Total inventory is up 12.6 percent year to year. Sales of all residential properties in Metro Vancouver this October rise 3.7 percent compared to last October. The composite value of all properties is 4.4 percent higher October to October.
From September to October the graph shows a 1.1 percent decline in prices for attached units in Metro Vancouver. Last month compared to the previous October, the benchmark townhouse price is up 6 percent. Year to year townhouse sales volume is 6.6 percent higher.
Vancouver west townhouse prices are up 1.1 percent from October to October. Attached unit sales rise 29.8 percent year to year. This October versus October 2022, inventory is up 29.5 percent.
From September to October west side attached sales increase 6.8 percent. Month to month, Vancouver west attached inventory is 17.4 percent lower.