VANCOUVER EAST AUGUST HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release touts August as the wrap up of a summer reflecting a more normal Real Estate market. Buyers who were absent for the first six months of the year have returned and as a result have mitigated 2019’s amassing of housing inventory. Last month residential detached, attached and apartment sales increase 15.7 percent compared to August 2018. Year to year the total inventory of listed properties is up 13.3 percent while new listings are down 3.5 percent in that same time period. August to August the composite value of all Metro Vancouver properties is down 8.3 percent.
The graph shows the average price for Metro Vancouver detached properties in August up from July by 4.2 percent. The benchmark price for detached homes last month compared to August 2018 is down 9.8 percent. The volume of house sales is 24.5 percent higher year to year.
East side house prices year over year are down 11.4 percent. Last month versus August 2018 Vancouver east detached sales increase by 25.8 percent. August to August inventory is down 12.8 percent.
July to August east side house sales are 29.8 percent less. Month to month east side inventory drops 17.6 percent.