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Blog by Don Kennedy

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Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.


The News Release lauds Metro Vancouver Real Estate activity as exceeding the 10 year August average by nearly 20 percent. The active market continues to be the result of low interest rates and insufficient supply. August 2020 compared to the preceding August sees the composite value of all properties up 5.3 percent. August to August residential detached, attached and apartment sales increase 36.6 percent. Even with a healthy year to year increase of 55.1 percent for new listings, the total inventory of listed properties is actually down by 4.4 percent.


The graph shows a boost of 2.5 percent from July to August in the average price for Metro Vancouver detached properties. The benchmark price for detached homes last month is 6.6 percent higher than August 2019. The volume of house sales rises 55.1 percent year to year.


East side house prices year over year are up 10.1 percent. Last month versus August 2019 Vancouver east detached sales get a 61.6 percent boost. August to August inventory increases 77.3 percent.


From July to August east side house sales fall 16.3 percent. Month to month east side inventory is 18.2 percent higher.