Historically the summer is slower than usual in real estate activity. This past month we have experienced a higher volume than normal in residential sales.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,128 in July 2020, a 22.3 percent increase from the 2,443 sales recorded in July 2019, and a 9.4 percent above the 10-year July sales average.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,031,400, which represent 4.5% increase from July 2019.
As the market is very active our goal remains to keep the public safety top of mind during COVID-19. We have managed to address it by implementing showing protocols in place such as protective equipment & pre-qualify the viewings by providing a 3D matterport tour to ensure better exposure online.
Along with historically low mortgage rates and better consumers confidence we project a busy fall market to come.
To view the complete news release package click HERE
Home sales and listings activity continues in July
If you are considering selling or simply interested in periodic home evaluation of your home, check out the new tool we have recently introduced to our clients.
