I hope you all had a fantastic Labour Day long weekend! We've had a beautiful summer, weather-wise. Now that people are back from summer holidays and teachers and students are back at school, that 'back to work' feeling is in the air....or is that the telling bite of Autumn?
Metro Vancouver home buyers spent the summer months searching for their next home. Between June and August, home sales were between 25 and 30% above the ten-year sales average.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver for August 2015 were 21.3% higher when compared to August 2014, and 15.5% lower compared to the number of sales in July 2015.
Last month’s sales were 27.9% above the 10-year sales average for the month.
“There was no summer lull in our market this year. Home buyers have been working with their REALTORS® throughout the summer months,” Darcy McLeod, REBGV president said. “They’re motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year — that’s the dynamic driving our market right now.”. “Those who have a sound buying strategy and an understanding of current price trends are having the most success in today’s market,” McLeod said.
While sales did slow slightly from July to August we are still in a strong Seller's market for Vancouver and most of the lower mainland.
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A large part of my business comes from referrals, so if you or someone you know is interested in buying and/or selling, please pass along my contact information and I would be happy to speak with them about how I can help.
See below for info on Vancouver's east and west sides. Contact me if you'd like more information on this, or on an area not covered here.
Here are the stats: