Vancouver Real Estate News

Greater Vancouver home sales continue to rebound since March of this year. Total sales in July may be the highest by month in almost 3 years. Each week the daily average of home sales recorded has increased – along with the number of new listings coming on the market. This is great news for both buyers and sellers who want to jump into the market. The following is a breakdown of the market numbers for July 2020. 

So far in July, there have been 1,404 sales in Greater Vancouver – to the middle of June this year there were 1,064 homes sold. In May at mid-month this year, there were only 686 homes sold. On the listings side, there have been 3,098 homes listed, compared to 3,043 in June 2020 at mid-month and 1,851 at the middle of May. So, the number of new listings compared to the previous month have plateaued, there are more homes selling which is increasing the absorption rate. Multiple offers are still occurring in all types of properties and we are seeing increases in average prices in some areas such as North Vancouver, Richmond, Port Coquitlam, Ladner and Tsawwassen – showing buyers purchasing higher priced properties. 

In the last two months there was a trend of increased activity with detached houses, but this month we are seeing an improvement in condo sales. With lower interest rates, first time buyers could be a part of the demand moving into the market.

Greater Vancouver Home Sales & Listings to date July 2020

Greater Vancouver 
Up 32% from June 2020
New Listings=3098
Up 2% from June 2020
Vancouver West 
Up 23% from June 2020
New Listings=621
Down 3% from June 2020
Vancouver East
Up 29% from June 2020
New Listings=341
down 2% from June 2020
North Vancouver
Up 13% from June 2020
New Listings=262
Down 6% from June 2020
West Vancouver
21 Up% from June 2020
New Listings=116
Down 1% from June 2020
Up 59% from June 2020
New Listings=332
Up 2% from June 2020
Burnaby East
Up 250% from June 2020
New Listings=27
Down 10% from June 2020
Burnaby North
Up 38% from June 2020
New Listings=153
Up 16% from June 2020
Burnaby South
Up 36% from June 2020
New Listings=155
Up 11% from June 2020
New Westminster
Up 70% from June 2020
New Listings=143
Up 11% from June 2020
Up 1% from June 2020
New Listings=212
Up 15% from June 2020
Port Moody 
Up 18% from June 2020
New Listings=75
Down 7% from June 202
Port Coquitlam
Up 23% from June 2020
New Listings=83
Up 1% from June 2020
Up 57% from June 2020
New Listings=29
Up 43% from June 2020
New Listings=66
Up 21% from June 2020