VANCOUVER EAST AUGUST HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release has hopeful overtones even while Buyers remain shy and inventory continues to increase. Fall traditionally being a more active time and a series of recent cuts by the Bank of Canada are reasons for this optimism. Currently though, the market is balanced. Total inventory last month is 37 percent higher than August 2023 thanks in part to a 4.2 percent increase in new listings year to year. Residential sales are 17.5 percent lower August to August. The composite value of all properties is down 0.9 percent year to year.
The graph shows a 1.4 percent dip from July to August for the average price of Metro Vancouver detached properties. The benchmark price for houses in August 2024 is 1.8 percent more than the previous August. Year to year the volume of detached home sales is down 13.9 percent.
August 2024 versus the previous August, east side house prices are 2 percent lower. Year over year Vancouver east detached sales drop 44.4 percent. August to August east side inventory adds 4.3 percent.
From July to August east side house sales plummet 49.4 percent. Month to month east side inventory is 24.7 percent lower.