THE POST-SUMMER HOUSING MARKET IN VANCOUVER
Last month’s sales were 27.9 per cent above the 10-year sales average for the month.
“There was no summer lull in our market this year. Home buyers have been working with their REALTORS® throughout the summer months,” Darcy McLeod, REBGV president said. “They’re motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year — that’s the dynamic driving our market right now.” New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,281 in August. This represents an 8.7 per cent increase compared to the 3,940 new listings reported in August 2014.
For condos and townhomes on the East side, inventory is increasing. Sale prices have risen by 11% since last month, as we see an average sale price of $543 per sq ft. The highest sales ratios are seen in Hastings East, followed by Main and Champlain Heights. On average, attached homes are usually on the market for 2-3 weeks.
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