skip to Main Content

Vancouver Detached Real Estate Sales Fall Over 32%, Price Declines Get Larger

Thinking of selling detached Vancouver real estate? It might be a little rough right now. Real Estate Board of Greater Vancouver (REBGV) numbers show sales fell in October. The decline in sales helped to push inventory levels higher, and prices lower.

Greater Vancouver Detached Real Estate Prices Fall Over 5%
The price of a detached home across Greater Vancouver is getting cheaper. REBGV reported the price of a typical home fell to $1,524,000 in October, down 1.1% from the month before. Prices are now 5.1% lower than they were last year. The city saw even greater declines, with Vancouver East down 5.5%, and Vancouver West down 9.9% from last year.

Detached price movements are getting worse. This is the 8th month we’ve seen prices growth decelate, and the 5.1% decline is the largest we’ve seen since June 2013. Nearly 3.9% of the declines for detached prices were over just the past 3 months. We haven’t seen the benchmark fall much more than this outside of a recession.

Vancouver Real Estate News, Market Updates, Insider Tips, Stats, & Analysis

Sign up for insider real estate news & tips from our podcasting team.

Are you a realtor? Click here
Selling Your Home? Click here

  • Reload
  • Should be Empty:

Greater Vancouver Detached Real Estate Sales Fall Over 32%
Sales of detached real estate are still falling across Greater Vancouver. REBGV reported 634 sales in October, up 26.3% from the month before. Compared to the same month last year however, sales are down 32.11%. The monthly gain is seasonally appropriate, the annual decline is not. The decline in sales is really helping to push inventory levels higher.

Continue reading the full story here >>

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

As Seen and Heard On

Media enquiries and press contact info:

© 2020 Matt Scalena PREC* & Adam Scalena PREC* , all rights reserved • Site MapBy Line49 Web Design, Vancouver BC

*Considering a real estate transaction? One of the first decisions you will need to make is whether you should work with a licensed real estate professional who will represent you. Take a moment to read this important consumer protection information from the Real Estate Council of BC. This form explains the special legal duties that real estate professionals owe to their clients. CLICK HERE and please call 778-847-2854 or 778-866-4574 immediately if you would like to discuss.

Back To Top