Metro Vancouver’s Housing Market Showed Fairly Stable Activity in July 2021
- July 2021’s home sales increased by 13.3% from the 10-year sales average record of July.
- There are 3,326 homes listed for sale in the Real Estate Board of Greater Vancouver (REBGV) region, which is a 6.3% increase from the total houses listed in July 2020.
- There is a 13.8% increase in the benchmark price in July 2021 from July 2020’s benchmark price, which comes to $1,175,500.
July Sale-to-Active-Listing Saw a Moderate Decline
- In July 2021 the sales-to-active-listings ratio was 33.8%, the market remains a seller’s market for all housing types. A recap::
- A ratio below 12% typically indicates that the market is a buyer’s market.
- A consistent trend of ratio above 20% indicates that the market is a seller’s market.
- July’s sales-to-active listings ratio for different home types:
- Detached homes: 25.5%
- Townhomes: 47.8%
- Apartments: 37.3%
- After the record-breaking housing activities in March earlier this year, the nationwide housing market is starting to show signs of slowing down. However, home sales is still predicted to be positive in 2022.
*Images/numbers from REBGV report.