VANCOUVER WEST OCTOBER TOWNHOME MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release announces a surge in sales for October with residential sales up 31.9 percent last month compared to October 2023. Buyers have moved away from the sidelines, likely in response to four rate cuts in a row by the Bank of Canada. If this trend continues it could reverse recent price moderations. Right now the composite value of all properties is down 1.9 percent year to year. October to October newly listed properties are up 16.9 percent. The total inventory is now 24.8 percent higher than October 2023.
From September to October the graph shows a 5.9 percent lift in prices for attached units in Metro Vancouver. Last month compared to October 2023, the benchmark townhouse price tics up 0.4 percent. Year to year townhouse sales volume is 40.7 percent higher.
Vancouver west townhouse prices are up 1.4 percent from October to October. Attached unit sales jump 29.8 percent year to year. Townhome inventory is 39 percent higher this October versus last October.
From September to October west side attached sales increase 22 percent. Month to month, Vancouver west attached inventory dips 11.9 percent.