23
New Home Data
INSIGHTS AND COMMENTS
• There were 132 actively selling townhome projects in
Metro Vancouver in Q1-2024. This is nine projects more
than the previous quarter and a 23 percent increase (25
more projects) from the same quarter five years ago.
• The Inner Metro and Outer Metro regions, as well as
the City of Vancouver accounted for 35 percent (46
projects), 37 percent (49 projects), and 28 percent
(37 projects) of all actively selling townhome projects,
respectively.
• A total of 596 new townhome sales were recorded
in Q1-2024. This is a 92 percent increase from the
previous quarter and an 86 percent increase from the
same quarter last year. This also reflects a 101 percent
increase from the same quarter five years ago.
• The Outer Metro region accounted for 48 percent (287
sales) of all new townhome sales in Metro Vancouver,
while 39 percent (234 sales) occurred in the Inner Metro
region and 13 percent (75 sales) occurred in the City
of Vancouver.
• A total of 1,437 new townhome units were released and
unsold at the end of Q1-2024. This was an 18 percent
increase from the previous quarter and a 44 percent
increase from the same quarter last year.
• The Inner Metro and Outer Metro regions represented
41 and 37 percent, respectively, of all released and
unsold townhome inventory, while the City of Vancouver
represented 22 percent at the end of the First Quarter
of 2024.
• Released and unsold inventory increased in the Inner
Metro and Outer Metro regions, by 24 percent and
five percent, respectively while the City of Vancouver
experienced an increase of 33 percent compared to
the previous quarter.
• Overall unsold inventory in the Inner Metro region
increased by 53 percent (206 more units), increased by
27 percent (112 more units) in the Outer Metro region,
and increased by 60 percent (79 more units) in the
City of Vancouver when compared to the same quarter
last year.
• An overall total of 147 townhomes were move-in
ready at the end of Q1-2024. This was a 15 percent
decrease (25 fewer units) when compared to the
previous quarter but a 44 percent increase (45 more
units) when compared to the same quarter last year.
1: Released and unsold “inventory” includes new home product available for sale that is pre-construction, under
construction, and completed. “Standing Inventory” refers to unsold units that are complete and move-in ready.