Greater Vancouver Real Estate Update
Monthly Newsletter: Sep 2020

Sep 2020 sales up 56.2 percent and Listings up by 31.6 percent from Sep 2019

Here are some highlights:

• Sales: Sep sales in the Greater Vancouver increased to about 3,643 a 56.2% increase from the 2,333 sales recorded in September 2019, and a 19.6% increase from August 2020. It was 44.8% above the 10-year September sales average and is the highest total on record for any Sep.

• Listings: Total listings in Sep increased about 31.6% from Sep 2019 and 10.1% increase compared to last month. The total current listings on MLS is about 2.6% less as compared to September 2019.

• Prices: The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,041,300. This represents a 5.8 per cent increase over September 2019, and a 0.3 per cent increase compared to August 2020.

Despite the increased sales and prices, some deep data delving does point to some weakness arising in the condo market. Detached homes are seeing a higher annual rate of price growth, but condo apartments are stalling. Detached home prices are at a high for the year, but remain 6.7% below the all-time high. Condo apartment prices are lower than the previous month, and are 5.24% below the all-time high. 

Toronto and Montreal condo markets are also experiencing increased listings and pressure on price growth.

 



Re/Max is offering sixteen $1,000 bursaries for a total of $16,000 to grade 12 students.    

This program was established by RE/MAX of Western Canada to recognize the success and ongoing pursuits of Western Canadian students in regards to leadership and community contribution initiatives. Students can enter online at www.remax.ca / About RE/MAX / In the Community / Quest for Excellence

2021 Quest for Excellence program is open for submissions from September 14, 2020 until midnight March 15, 2021. Only online entries will be accepted.    



*Let me know if you need any assistance with your submissions
STAY SAFE AND STAY HAPPY!
Kapil
 
Facebook     Instagram    LinkedIn

Copyright © 2020 Kapil Aggarwal Realtor ® | Remax Select Realty, All rights reserved.