Hello friends,
Here we are in August! As usual, please find my very brief summary of the latest July 2020 statistics from the Real Estate Board of Greater Vancouver on August 5, 2020.
Sales up: 22.3% increase compared from July 2019, and a 28% increase compared from May 2020. Last month’s sales were 9.4% above the 10-year June sales average.
Inventories down: 15.1 % decrease compared to July 2019 (14,240) and a 5.8 per cent increase compared to June 2020 (11,424).
Prices up: Benchmark price for all residential properties in Metro Vancouver is currently $1,031,400. This represents a 4.5% increase over July 2019 and a 0.6 % increase compared to June 2020.
My comments: The average home price has been going up at a steady pace in the past few months. Detached house (single houses) is getting very desirable throughout Greater Vancouver. I am seeing multiple offers everywhere including Surrey, Richmond, Burnaby and Vancouver. For budget under $600,000, I still recommend downtown studio condos. Sales have picked up but price is still low enough to go in. FYI please refer to the graph in the link below for average sale price in the past 5 years, the lowest average price was at the end of 2019.
Average home price 2015-2020 July
Some DT studio/1br properties FYI:https://bcres.paragonrels.com/publink/default.aspx?GUID=a6d01b2b-9d6b-493f-a120-b5e3c8992608&Report=Yes
Picture of the month:: We found that Sirius likes to hold his favorite toys to sleep including mom and dad’s slipper ( Ewwww ~) LOL
Have a nice weekend!
Sheron
