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 Sold=1404 Up 32% from June 2020 New Listings=3098 Up 2% from June 2020 |
Vancouver West Sold=205 Up 23% from June 2020 New Listings=621 Down 3% from June 2020 |
| Vancouver East Sold=156 Up 29% from June 2020 New Listings=341 down 2% from June 2020 |
North Vancouver Sold=120 Up 13% from June 2020 New Listings=262 Down 6% from June 2020 |
| West Vancouver Sold=34 21 Up% from June 2020 New Listings=116 Down 1% from June 2020 |
Richmond Sold=161 Up 59% from June 2020 New Listings=332 Up 2% from June 2020 |
| Burnaby East Sold=14 Up 250% from June 2020 New Listings=27 Down 10% from June 2020 |
Burnaby North Sold=58 Up 38% from June 2020 New Listings=153 Up 16% from June 2020 |
| Burnaby South Sold=45 Up 36% from June 2020 New Listings=155 Up 11% from June 2020 |
New Westminster Sold=80 Up 70% from June 2020 New Listings=143 Up 11% from June 2020 |
| Coquitlam Sold=121 Up 1% from June 2020 New Listings=212 Up 15% from June 2020 |
Port Moody Sold=39 Up 18% from June 2020 New Listings=75 Down 7% from June 202 |
| Port Coquitlam Sold=48 Up 23% from June 2020 New Listings=83 Up 1% from June 2020 |
Ladner Sold=22 Up 57% from June 2020 New Listings=29 |
| Tsawwassen Sold=30 Up 43% from June 2020 New Listings=66 Up 21% from June 2020 |