Dodi Thorhaug : Re/Max Dodi Thorhaug Realty

For the first time since January, July 2016's home sales registered below 4,000 units for Metro Vancouver. So after several months of record-breaking residential sales, are we just seeing a traditional summer slow down, the effects of historically low inventory levels, the first effects of the new 15% foreign buyer's tax, or a combination of all three? Too soon to tell most likely. We will have to wait and watch over the next few months to see if we are begining to see a return to more normal market trends.

The key to success in such an accelerated market is to be well prepared and getting you ready for all market conditions is my top priority! If you are planning a change in lifestyle this fall, let's work together to make it happen. Let's talk, Dodi  604.644.3634

Here are the highlights: 

• Overall for Metro Vancouver July 2016's sales were 6.5% above the 10 year average for the month
• Sales of North Vancouver Detached Properties were 17.2% lower than July 2015 with 11.6% more inventory
• Sales of North Vancouver Attached Properties were 15.2% lower than July 2015 with 56.6% less inventory
• Sales of West Vancouver Detached Properties were 45.7% lower than July 2015 with 10.4% less inventory
• Sales of West Vancouver Attached Properties were 10.5% higher than July 2015 with 41% less inventory
• Sales of Downtown Condo Properties were 31.8% lower than July 2015 with 30% less inventory

Market types in July 2016: (note, when a sales to listing ratio exceeds 100%, properties are selling faster than the listing inventory is being replenished.)

• The Sales-To-Active listings ratio for Metro Vancouver was 38.6%, a seller's market, with 3.9 out of every 10 properties sold
• The Sales-To-Active listings ratio for North Vancouver Detached properties 45%, a seller's market, with 96 sales out of 212 listings
• The Sales-To-Active listings ratio for North Vancouver Attached properties was 88%, a seller's market, with 139 sales out of 158 listings
• The Sales-To-Active listings ratio for West Vancouver Detached properties was 11%, a buyer's market, with 44 sales out of 414 listings
• The Sales-To-Active listings ratio for West Vancouver Attached properties was 36%, a seller's market, with 21 sales out of 59 listings
• The Sales-To-Active listings ratio for Coal Harbour Condos was 53%, a seller's market, with 28 sales out of 53 listings

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

*Areas covered in the Real Estate Board of Greater Vancouver's report include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta

The accuracy and completeness of the information is not guaranteed.