Home buyer activity increased to\nmore typical levels in Metro Vancouver throughout the summer months.<\/p>\n\n\n\n
The Real\nEstate Board of Greater Vancouver (REBGV) reports that residential home sales\nin the region totalled 2,231 in August 2019, a 15.7 per cent increase from the\n1,929 sales recorded in August 2018, and a 12.7 per cent decrease from the\n2,557 homes sold in July 2019.<\/p>\n\n\n\n
Last\nmonth\u2019s sales were 9.2 per cent below the 10-year August sales average.<\/p>\n\n\n\n
\u201cHome\nsales returned to more historically normal levels in July and August compared\nto what we saw in the first six months of the year,\u201d said REBGV President\nAshley Smith. <\/p>\n\n\n\n
There\nwere 3,747 detached, attached and apartment properties newly listed for sale on\nthe Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in August 2019. This\nrepresents a 3.5 per cent decrease compared to the 3,881 homes listed in August\n2018 and an 18.8 per cent decrease compared to July 2019 when 4,613 homes were\nlisted.<\/p>\n\n\n\n
The total\nnumber of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver\nis 13,396, a 13.3 per cent increase compared to August 2018 (11,824) and a 5.9\nper cent decrease compared to July 2019 (14,240).<\/p>\n\n\n\n
For all\nproperty types, the sales-to-active listings ratio for August 2019 is 16.7 per\ncent. By property type, the ratio is 12 per cent for detached homes, 18.4 per\ncent for townhomes, and 21.2 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
\u201cWith\nmore demand from home buyers, the supply of homes listed for sale isn\u2019t\naccumulating like earlier in the year. These changes are creating more balanced\nmarket conditions,\u201d Smith said.<\/p>\n\n\n\n
The MLS\u00ae\nHome Price Index composite benchmark price for all residential properties in\nMetro Vancouver is currently $993,300. This represents an 8.3 per cent decrease\nover August 2018 and a 0.2 per cent decrease compared to July 2019.<\/p>\n\n\n\n
Sales of\ndetached homes in August 2019 reached 706, a 24.5 per cent increase from the\n567 detached sales recorded in August 2018. The benchmark price for detached\nhomes is $1,406,700. This represents a 9.8 per cent decrease from August 2018\nand a 0.7 per cent decrease compared to July 2019.<\/p>\n\n\n\n
Sales of\napartment homes reached 1,116 in August 2019, an 8.9 per cent increase compared\nto the 1,025 sales in August 2018. The benchmark price of an apartment property\nis $771,000. This represents a 7.4 per cent decrease from August 2018 and a 0.1\nper cent increase compared to July 2019.<\/p>\n\n\n\n
Attached\nhome sales in August 2019 totalled 409, a 21.4 per cent increase compared to\nthe 337 sales in August 2018. The benchmark price of an attached unit is\n$654,000. This represents a 7.8 per cent decrease from August 2018, a 0.2 per\ncent increase compared to July 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
Home buyer activity increased to more typical levels in Metro Vancouver throughout the summer months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region … [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":[13],"tags":[206,138,230,290,137,195,3,154],"_links":{"self":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/816"}],"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=816"}],"version-history":[{"count":1,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/816\/revisions"}],"predecessor-version":[{"id":817,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/816\/revisions\/817"}],"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=816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/categories?post=816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/tags?post=816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}