Friday, September 8, 2017
Competition for condominiums and townhomes pushed Metro Vancouver home sales above typical levels in August.
Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,043 in August 2017, a 22.3% increase from August 2016, and a 2.8% increase compared to July 2017.
Last month’s sales were 19.6% above the 10-year August sales average.
“First-time home buyers have led a surge this summer in demand in our condominium and townhome markets,” Jill Oudil, REBGV president said. “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region.”
There were 4,245 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2017. This represents a 1.1% decrease compared to the 4,293 homes listed in August 2016 and a 19.2% decrease compared to July 2017.