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Sale of Metro Vancouver Homes Rises this Summer

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The sale of homes in the Metro area of Vancouver has experienced a slight increase in 2019, according to data from Great Vancouver’s real estate board. This rise comes in the wake of a strong month of July, where about 2600 homes went off the market.

Sales in August represented a 9.2 percent low, which was way below the 10-year average sales. This put sale at a near-normal rate in Metro area of Vancouver, according to Ashely Smith, board president.

The market had 3747 attached, condos and detached listed units on multiple listings in the metro area in August, which represented close to 3.5 percent decrease, and an 18.8 percent decline compared to the month of July, where close to 4613 homes were put on the market.

This represents an amalgamated standard price for almost all properties. The prices continued to decline and the average stood at $993300 as of August. During the same month, last year, the market experienced an 8.3 percent decline, which was 0.2 percent lower compared to the month of July of 2019.

Benchmark cost for a detached unit decreased by close to 9.8 percent and stood at $1406700. The cost of condominiums also decreased by 8.9 percent in the month of August and stood at $771000. The standard cost of detached an attached home went down by 7.8 percent and reached $654000.

Source Link: https://vancouversun.com/news/local-news/metro-vancouver-home-sales-up-this-summer

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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