Courtesy of Taylor Brown

BENCHMARK PRICES

Summer sees home listing supply decline across Metro Vancouver

$1,807,100 detached

$735,100 apartment

UP 20.4% year-to-year

UP 7.6% year-to-year

VANCOUVER, BC - September 2, 2021 While home buyers have remained active in Metro Vancouver* throughout the summer, the supply of homes for sale has declined steadily since June. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,152 in August 2021, a 3.4 per cent increase from the 3,047 sales recorded in August 2020, and a 5.2 per cent decrease from the 3,326 homes sold in July 2021. Last month’s sales were 20.4 per cent above the 10-year August sales average. “August was busier than expected, and listings activity isn’t keeping up with the pace of demand. This is leaving the market under supplied.” said Keith Stewart, REBGV economist. There were 4,032 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2021. This represents a 30.6 per cent decrease compared to the 5,813 homes listed in August 2020 and a 7.9 per cent decrease compared to July 2021 when 4,377 homes were listed. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,005, a 29.7 per cent decrease compared to August 2020 (12,803) and an 8.6 per cent decrease compared to July 2021 (9,850). - Source: REBGV

4,032 9,005

NEW LISTINGS

ACTIVE LISTINGS (residential inventory)

SOLD LISTINGS 3,152

1,631

35%

945

SALES TO LISTING RATIO

Stats are reflective of August 2021 Source: REBGV Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to- date evaluation of your home.

detached SOLD LISTINGS apartment

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