Metro Vancouver housing market sees sales increase for July and August this year compared with the same months last year.
For the first time this year we saw both July and August home sales activity outperform the activity from the same months last year..
The increase this August compared with August last year was a 15.7 % but sales were still 9.2 % below the ten year average.
In other words, home sales have returned to more normal levels over the summer months.
The boost in sales activity means that inventories are not increasing like they were earlier which leads to a more balanced market.
The bench mark price of home in all categories appears to be stabilizing also with very small changes from July of this year.
Overall we are seeing signs over the last couple of months that prices and inventories are stabilizing.
This may be good timing to enter the market for those that have been sitting on the fence.
If you require detailed stats for your particular sub area I am happy to forward the latest information to you. Feel free to send me an email or give me a call with any questions.