Home\nbuyer demand picked up across Metro Vancouver last month, making July, a\ntraditionally quieter month in real estate, the second highest selling month so\nfar this year.<\/p>\n\n\n\n
The\nReal Estate Board of Greater Vancouver (REBGV) reports that residential home\nsales in the region totalled 2,557 in July 2019, a 23.5 per cent increase from\nthe 2,070 sales recorded in July 2018, and a 23.1 per cent increase from the\n2,077 homes sold in June 2019.<\/p>\n\n\n\n
Last\nmonth\u2019s sales were 7.8 per cent below the 10-year July sales average.<\/p>\n\n\n\n
\u201cWhile\nhome sale activity remains below long-term averages, we saw an increase in\nsales in July compared to the less active spring we experienced,\u201d Ashley Smith,\nREBGV president said. \u201cThose looking to buy today continue to benefit from low\ninterest rates, increased selection, and reduced prices compared to the heated\nmarket a few years ago.\u201d<\/p>\n\n\n\n
There\nwere 4,613 detached, attached and apartment properties newly listed for sale on\nthe Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in July 2019. This\nrepresents a 3.3 per cent decrease compared to the 4,770 homes listed in July\n2018 and a 2.9 per cent decrease compared to June 2019 when 4,751 homes were\nlisted.<\/p>\n\n\n\n
The\ntotal number of homes currently listed for sale on the MLS\u00ae system in Metro\nVancouver is 14,240, a 17.3 per cent increase compared to July 2018 (12,137)\nand a 4.9 per cent decrease compared to June 2019 (14,968).<\/p>\n\n\n\n
For\nall property types, the sales-to-active listings ratio for July 2019 is 18 per\ncent. By property type, the ratio is 13.5 per cent for detached homes, 20 per\ncent for townhomes, and 22 per cent for apartments.<\/p>\n\n\n\n
Generally,\nanalysts say downward pressure on home prices occurs when the ratio dips below\n12 per cent for a sustained period, while home prices often experience upward\npressure when it surpasses 20 per cent over several months.<\/p>\n\n\n\n
\u201cTo\nbetter understand conditions in your property type or neighbourhood of choice,\nit\u2019s important to work with your local REALTOR\u00ae. They can help you develop a\nstrategy to reach your long-term real estate goals,\u201c Smith said.<\/p>\n\n\n\n
The\nMLS\u00ae Home Price Index composite benchmark price for all residential properties\nin Metro Vancouver is currently $995,200. This represents a 9.4 per cent\ndecrease over July 2018 and a 0.3 per cent decrease compared to June 2019.<\/p>\n\n\n\n
Sales\nof detached homes in July 2019 reached 841, a 32 per cent increase from the 637\ndetached sales recorded in July 2018. The benchmark price for detached\nproperties is $1,417,000. This represents a 10.5 per cent decrease from July\n2018, and a 0.5 per cent decrease compared to June 2019.<\/p>\n\n\n\n
Sales\nof apartment homes reached 1,243 in July 2019, a 15.2 per cent increase\ncompared to the 1,079 sales in July 2018. The benchmark price of an apartment\nproperty is $653,200. This represents an 8.8 per cent decrease from July 2018,\nand a 0.2 per cent decrease compared to June 2019.<\/p>\n\n\n\n
Attached\nhome sales in July 2019 totalled 473, a 33.6 per cent increase compared to the\n354 sales in July 2018. The benchmark price of an attached unit is $770,000.\nThis represents a nine per cent decrease from July 2018, and a 0.6 per cent\ndecrease compared to June 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
Home buyer demand picked up across Metro Vancouver last month, making July, a traditionally quieter month in real estate, the second highest selling month so far this year. The Real … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,73],"tags":[206,227,138,183,155,137,4,224,3,61],"_links":{"self":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/808"}],"collection":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/comments?post=808"}],"version-history":[{"count":1,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/808\/revisions"}],"predecessor-version":[{"id":809,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/808\/revisions\/809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/media\/427"}],"wp:attachment":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/media?parent=808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/categories?post=808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/tags?post=808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}