This is the Vancouver Real Estate Market Update for August 2016. This Market Update includes statistics from the Real Estate Board of Greater Vancouver regarding Listing & Sales numbers. These numbers are for both Vancouver West Side Houses & Vancouver West Side / Downtown Condos. In addition to these statistics, I have added my opinion from being on the ground around town in the past 30 days and what i have seen in the market on all fronts. Plus my sales from this past month have been highlighted at the bottom of the update.
Vancouver West Side Housing Market Update:
The Housing market has continued on the same trajectory as it was on last month. Listing numbers are down as well as sales numbers. Listing prices however have not yet taken a big hit. It will be interesting to see how things adjust into the typically busy fall market when beginning in the current direction. There is still the fundamental issue however that there is no creating of more detached housing inventory.
Vancouver West Side & Downtown Condo Market Update:
The Condo market continues on the same trajectory as last month. Sales number & listing numbers are adjusting down, however pricing has not yet been affected to the same degree. This is an adjustment in velocity of the market shown above which in my pinion is a good thing, brining things back to a normal climate. Unique properties in certain price points however are still red hot and selling with multiple offers.
For any further information you do not see here regarding the Vancouver West Side & Downtown Vancouver Housing & Condo Markets please contact me direct. Additionally if you are interested in the East Vancouver housing & condo markets please contact me direct for the most up to date statistics in those sectors of the market as well.