2017 real estate market update

July 2016 Vancouver Real Estate Market Update (West Side & Downtown)

Posted on Friday, July 1st, 2016 at 11:30 pm - Vancouver Real Estate Market Update | No Comments

This page offers the July 2016 Vancouver Real Estate Market Update for the Vancouver West Side & Downtown Vancouver House & Condo Markets. Additionally from all statistical details from the Greater Vancouver Real Estate Board, I have added my insight to what I have seen in the past month in these market segments.

Jay McInnes Market Update (JULY 2016)

Vancouver West Side Housing Market:
The housing market in the 2nd quarter of 2016 has now shown signs (as you can see above) of toned down velocity. The first quarter of the year saw the highest velocity ever (shorter days on market & increasing prices) but things are becoming more balanced, offering a much more realistic market compared to the beginning of the year.

Vancouver West Side & Downtown Vancouver Condo Markets:
The amount of condo listings has been rather consistent over the past few months with the numbers only slightly lower in July. Sales have adjusted down additionally as of July. The entry-level of the market has sustained and is still seeing multiple offer situations (under $500k). Between $500k-$1mil is additionally still busy. Above $1mil has begun to balance.

For any further information with regards to any of the markets noted above or the East Vancouver Real Estate Housing or Condo markets please don’t hesitate to contact me direct at jay@jaymcinnes.com / 604 771 4606.

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