Lots happened in August 2015 in Metro Vancouver Real Estate - the introduction of a 15% tax foreign buyer's tax and the move, in just 4 weeks, from a seller's market in Metro Vancouver's* detached housing market, to a buyer's market except in North Vancouver, where buyer demand has kept it in a seller's market.  Sales of Metro Vancouver attached properties, condos/townhomes/duplexes are still performing in a seller's market with strong buyer demand. So is the dramatic change in the sales of single family homes due to a summer slowdown, very low inventory, the new 15% tax, or a combination of all three? We will need to wait and see how the Fall market performs to answer that question.

 

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Here are the highlights for August: 

• For the first time in 2016 Metro Vancouver sales dropped below the 10-year-average for the month at -3.5%
• Sales of North Vancouver Detached Properties were 31% lower than August 2015 with 33% more inventory
• Sales of North Vancouver Attached Properties were 22.5% lower than August 2015 with 53% less inventory
• Sales of West Vancouver Detached Properties were 61% lower than August 2015 with 13% less inventory
• Sales of West Vancouver Attached Properties were 31.3% higher than August 2015 with 50% less inventory
• Sales of Downtown Condo Properties were 35% lower than August 2015 with 12.8% less inventory

Market types in August 2016: 

• The Sales-To-Active listings ratio for Metro Vancouver was 29.3%, a seller's market, with 2.9 out of every 10 properties sold
• The Sales-To-Active listings ratio for North Vancouver Detached properties 33%, a seller's market, with 65 sales out of 197 listings
• The Sales-To-Active listings ratio for North Vancouver Attached properties was 62%, a seller's market, with 96 sales out of 156 listings
• The Sales-To-Active listings ratio for West Vancouver Detached properties was 8%, a buyer's market, with 32 sales out of 380 listings
• The Sales-To-Active listings ratio for West Vancouver Attached properties was 41%, a seller's market, with 21 sales out of 51 listings
• The Sales-To-Active listings ratio for Coal Harbour Condos was 25%, a seller's market, with 15 sales out of 61 listings

Read your full reports here: North Vancouver August 2016, West Vancouver August 2016, Vancouver West August  2016.

 

*Areas covered in Metro Vancovuer include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Tsawwassen, Ladner

 

The accuracy and completeness of the information is not guaranteed. Data was captured on September 1, 2016, from the Real Estate Board Of Greater Vancouver.