VANCOUVER WEST 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.
Last month versus the previous August, Vancouver west detached prices increase 12.2 percent. Year to year west side house sales are down 17.6 percent. August 2021 Inventory declines 4.7 percent compared to the previous August.
From July to August west side house sales sag by 19.4 percent. Month to month detached inventory is 8.3 percent higher.