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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.


Last month versus the previous August, Vancouver west detached prices grow by 5.6 percent. August 2020 versus August 2019 west side house sales are 51.6 percent higher. Year to year inventory is up by an equal 51.6 percent.


From July to August sales of west side houses are 21.3 percent better. Month to month detached inventory is 9.5 percent less.