VANCOUVER EAST AUGUST HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release states that under supply and not a lack of Buyer enthusiasm is behind declining sales. Never the less, last month’s sales exceed the 10 year average for August by 20.4 percent. Sales of residential properties this August increase 3.4 percent compared to August 2020. However new listings are 30.6 percent less year to year while the total inventory of listed properties is down 29.7 percent August to August. With a lower supply, prices that Buyers are paying are edging up. Last month the annual composite value of all properties rises 13.2 percent.
The graph shows a jump of 3.5 percent from July to August in the average price for detached properties. The benchmark price for detached homes this August is 20.4 percent higher than last August. The volume of house sales drops 13.7 percent year to year.
August 2021 versus last August, east side house prices are 12.4 percent higher. Year over year Vancouver east detached sales tumble 13.5 percent. August to August inventory is down 48.9 percent.
From July to August east side house sales drop 29.2 percent. Month to month east side inventory is down 2.9 percent.