Greater Vancouver Real Estate Market Statistics – August 2020
 

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in August 2020.
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According to the Real Estate Board of Greater Vancouver, home buyers and sellers remained active across Metro Vancouver in August, with home sale and new listing activity outpacing the region’s historical averages.

“People who put their home buying and selling plans on hold in the spring have been returning to the market throughout the summer,” Colette Gerber, REBGV Chair said. “Like everything else in our lives these days, the uncertainty COVID-19 presents makes it challenging to predict what will happen this fall.”

Colette also has talked about the impact of low interest rates:

“Low interest rates and limited overall supply of homes for sale are creating competition in today’s housing market,” Gerber said.

Bowen Island

In August 2020, Bowen Island had 11 sales of detached homes and 37 active listings. The benchmark sale price was $1,067,300.

While the condo market had  1 listing, there were no sales of condo or townhome market.

Burnaby East

In August 2020, there were 14 sales of detached homes and 42 active listings in Squamish. The benchmark sale price was $1,257,500.

The condo market had 13 sales and 45 active listings at the end of the month.  The benchmark sale price was $721,000.

The townhome market had 9 sales and, the active listings were 36. The benchmark sale price was $708,200.

It’s a Seller’s Market for Homes and Condos in Burnaby East.

Burnaby North

In August 2020, there were 58 sales of detached homes and 132 active listings in Squamish. The benchmark sale price was $1,477,400.

The condo market had 104 sales and 397 active listings at the end of the month.  The benchmark sale price was $614,400.

The townhome market had 27 sales and, the active listings were 55. The benchmark sale price was $732,500.

It’s a Seller’s Market in Burnaby North.

Burnaby South

In August 2020, there were 26 sales of detached homes and 182 active listings in Squamish. The benchmark sale price was $1,555,100.

The condo market had 81 sales and 397 active listings at the end of the month.  The benchmark sale price was $656,300.

The townhome market had 19 sales and, the active listings were 67. The benchmark sale price was $802,400.

It’s a Buyer’s Market in for Homes in Burnaby South.

Coquitlam

Ladner

Maple Ridge

New Westminster

North Vancouver

Pitt Meadows

Port Coquitlam

Port Moody

Richmond

Tsawwassen

Vancouver East

Vancouver West

West Vancouver

Looking for more information about the real estate market in specific neighbourhoods in the Greater Vancouver?
Macdonald Realty has offices across the Greater Vancouver.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Real Estate Board of Greater Vancouver (REBGV) www.rebgv.org