Monthly Real Estate Report Vancouver – 2019.Aug
Vancouver Real Estate Market sales increase in summer.
Monthly Real Estate Report Vancouver – 2019.Aug: During this summer, more buyers choose to purchase their homes in Vancouver.
According to the Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,231 in August 2019, a 15.7 per cent increase from the 1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the 2,557 homes sold in July 2019. My comments: due to the price dropped more than 8% compared to 2018, that will attract more buyers to get into the market.
However, last month’s sales were still 9.2% below the 10-year August sales average.
“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year,” said REBGV President Ashley Smith.
There were 3,747 new listings listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver last month. This represents a 3.5 per cent decrease compared to the 3,881 homes listed in August 2018 and an 18.8 per cent decrease compared to July 2019 when 4,613 homes were listed. My comment: Fewer listings, less choice for buyers, but why there are less listings – sellers are also waiting for a warmer market to sell.
The total number of homes currently listed for sale on the MLS® Vancouver is 13,396, a 13.3 per cent increase compared to August 2018 (11,824) and a 5.9 per cent decrease compared to July 2019 (14,240).
The MLS® Home Price Index composite benchmark price:
- detached homes is $1,406,700.
- price of an apartment property is $771,000.
- price of an attached unit is $654,000.
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(all data current as of 7/6/2020)
Listing information deemed reliable but not guaranteed. Read full disclaimer.