Real Estate Blog by Adina

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Vancouver Market Update | July

Blog by Adina Dragasanu, Personal Real Estate Corporation | August 22nd, 2017

With the weather heating up, we've noticed buyers  gearing down in their search for the right property.

The combination of fewer sales and more listings the caused the July 
sales to active listing ratio to slip to 32%, down 13% from the previous month.

At this point it's unclear if this is an indication of a longer term slowdown, or just our usual summer pause as Vancouverites take advantage of the great weather. Although sales were 8% lower than last year, they remained 1% above the 10 year average for the month.

Demand for townhouse and condos still drives todays market, while we're seeing the detached market lagging behind. Prices of condos have seen the largest increase this year by 19% followed by townhouse at 12% and 2% increase for detached homes.

Housing demand is inconsistent across the region with pockets of the market still seeing competitive multiple offers and others having difficulty attracting buyers. For a detailed breakdown of what's happening in your neighbourhood, view the video and reports below. 

For more info click below to watch the REBGV July 2017 Market Update (VIDEO)