What you need to know about the 2nd Quarter Real Estate Market in Greater Vancouver?
Posted by Tony Cikes on
it's Summer and the 2nd quarter of the year is done. The sun is shinning and the blue skies are clear! Both the weather and the Vancouver real estate market are phenomenal this time of the year!
I have analyzed all of the 2nd Quarter stats and calculated the June numbers. Here are my insights:
- We have entered a Seller's market for houses with 35% of the homes selling within a month and for attached homes with 25% of the homes selling within a month.
- Sales for houses are up 37% and for attached homes they are up 26%.
- Inventory is down -17% for houses and down -10% for attached homes.
- The detached housing market has 3.2 months of inventory while our attached market has 4.2 months.
- The average price of a house is $703,521.
- The…
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