VANCOUVER WEST OCTOBER TOWNHOME MARKET
Attached please find the latest statistics from Greater Vancouver Realtors.
The News Release for October is less optimistic than in other recent months. Although inventory levels are declining, sales last month proved to be sluggish despite a fourth cut in interest rates by the Bank of Canada. With prices receding, conditions for buyers have not been more favourable all year. This October recorded a 14.3 percent decrease in residential sales compared to last October. Year to year newly listed properties are down 0.3 percent while last month’s total inventory is 13.2 percent higher than October 2024. The composite value of all properties is 3.4 percent lower October to October.
From September to October the graph shows a 2.9 percent downturn in prices for attached units in Metro Vancouver. Last month compared to October 2024, the benchmark townhouse price is down 3.8 percent. Year to year townhouse sales volume is 4.8 percent lower.
Vancouver west townhouse prices decline 5.3 percent from October to October. Attached unit sales are up 6.6 percent year to year. Townhome inventory is 3.5 percent higher this October versus last October.
From September to October Vancouver west attached sales shoot up 85.7 percent. West side attached inventory drops 18.8 percent month to month.