Vancouver Real Estate Market Remains Active

Home buyers and sellers remained active across Metro Vancouver, BC, in August, with home sale and new listing activity outpacing the region’s historical averages. The Real Estate Board of Greater Vancouver (REBGV) says that residential home sales in the region totalled 3,047 in August, a 36.6 per cent increase from the 2,231 sales recorded in August 2019 and a 2.6 per cent decrease from the 3,128 homes sold in July. Last month’s sales were 19.9 per cent above the 10-year August sales average. The total number of homes currently listed for sale in Metro Vancouver is 12,803, a 4.4 per cent decrease compared to August 2019 (13,396) and a six per cent increase compared to July (12,083). For all property types, the sales-to-active listings ratio for August is 23.8 per cent. By property type, the ratio is 23.7 per cent for detached homes, 30.5 per cent for townhomes, and 21.6 per cent for apartments.