METRO VANCOUVER MARKET REPORT

AUGUST 2019

Metro Vancouver Market Report: Use the page control (top of charts) to switch between infographics for North Vancouver, West Vancouver, Vancouver East, and Vancouver West.

Here is the August 2019 monthly market update for areas covered by the Real Estate Board of Greater Vancouver (REBGV)! As stated in the REBGV August market report, the Metro Vancouver housing market has seen an uptick in sales this summer.

REBGV reports that residential home sales in the region totaled 2,231 in August 2019, a 15.7% increase from the 1,929 sales recorded in August 2018, and a 12.7% decrease from the 2,557 homes sold in July 2019.

However, August sales were 9.2% below the 10-year August sales average.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 13,396, a 13.3% increase compared to August 2018 (11,824) and a 5.9% decrease compared to July 2019 (14,240).

As noted by REBGV President Ashley Smith,

“Home sales returned to more historically normal levels in July and August compared to what we saw in the first six months of the year.

With more demand from home buyers, the supply of homes listed for sale isn’t accumulating like earlier in the year. These changes are creating more balanced market conditions.”