Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in July 2020.
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According to the Real Estate Board of Greater Vancouver, home buyer and seller activity in Metro Vancouver exceeded historical levels in July.
“We’re seeing the results today of pent up activity, from both home buyers and sellers, that had been accumulating in our market throughout the year,” Colette Gerber, REBGV Chair said. “Low interest rates and limited overall supply are also increasing competition across our market.”
Colette also has talked about the COVID situation which according to him remains the top priority for our REALTOR® community.
“We continue to limit in-person interactions with clients and employ different technology solutions to ensure home buyers and sellers can get as much information as possible in a virtual setting.”
The Real Estate Board of Greater Vancouver (REBGV) reports that “residential home sales in the region totalled 3,128 in July 2020, a 22.3% increase from the 2,557 sales recorded in July 2019, and a 28%t increase from the 2,443 homes sold in June 2020. Last month’s sales were 9.4% above the 10-year July sales average”.
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 firstname.lastname@example.org 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