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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 suggests that Buyers took a summer vacation from the Metro Vancouver Real Estate market. Reduced Buyer activity caused lower benchmark prices in August for the second month in a row for all three housing categories, especially detached properties according to the sales-to-active-listings ration. Last month total residential sales are down 36.6 percent compared to August 2017. August to August new listings decrease 8.6 percent while the total inventory of listed properties is up 34.3 percent year to year. Last month the composite value of all Metro Vancouver properties increases 4.1 percent over the previous August.


The graph displays a decrease of 2.8 percent from July to August for the average attached unit price in Metro Vancouver. Last month compared to August 2017 the benchmark townhouse price rises by 7.9 percent. Year to year the volume of townhome sales is down 36.3 percent.


Last month versus August 2017 Vancouver west townhouse prices are up 1.1 percent. This August compared to last August attached unit sales are down 32.1 percent. Year to year inventory is 28.7 percent lower.


From July to August west side attached sales decline by20.8 percent. Month to month Vancouver west attached inventory is down 5.6 percent.