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August 2019 - Market News

Source: Real Estate Board of Greater Vancouver
Market Stats: Residential Detached

Written Summary:
North Vancouver: 
The number of residential detached units sold in July 2019 increased 49% compared to the same period last July, and 39% for gross sales.  However, the average price per unit decreased by 6%.  Year to date, the number of residential detached units sold increased by just 1%, or 5 units, and gross sales declined 7% compared to the same period in 2018.  The average price dropped 8%.

West Vancouver: The number of residential detached units sold continued the upward trend for July 2019 compared to the same period last year, while the average price continues to drop.  July 2019 showed an increase of 34% of units sold compared to July 2018, with gross sales showing a minimal increase of 2%.  This was the result of the decline in average price of 23% compared to July 2018. Year to date figures for January through July 2019 compared to last year saw an increase of 16% for number of units sold, and an increase of 5% for gross sales.  The average price per unit was down 9% year to date.

Vancouver West: The relative performance for July 2019 compared to July 2018 for residential detached units is quite impressive. The number of units sold increased 36%, and gross sales increased by 42%.  The average price per unit continued in the same direction with an increase of  4%.  Despite the positive numbers for July year to date figures for January through July 2019 are still down by 4% for units sold, 18% for gross sales, and 14% for average price per unit.

Sunshine Coast: July 2019 saw an increase of 16% for residential detached units sold, however gross sales were down 1%. The average price per unit was $679,745.  The number of residential detached units listed in July compared to July 2018, was down 21%, while the number of active listings is up by 18%.  Year to date, the number of units sold are down 16%, gross sales decreased by 18%, and the average price per unit has declined by 2% compared to the same Juanuary through July period last year.

For a complete breakdown of the stats for each area please see below:

North Vancouver: Here

West Vancouver: Here

Vancouver West: Here

Sunshine Coast: Here