The Real Estate Board of Metro Vancouver reports:

"Summer is traditionally a quieter time of year in real estate, this is particularly true this year. With increased mortgage rates and stricter lending requirements, buyers are opting to take a wait-and-see approach for the time being, and with fewer buyer’s active in today’s market, we’re seeing less upward pressure on home prices across the region. Last month’s sales were 29.3% below the 10-year July sales average. Overall Metro Vancouver sits in a balanced market at 17% of properties sold with opportunities for both buyer’s and seller’s. If we break it down by category: sales of detached homes sit in a buyer’s market at 9.7%, condo sales sit in a seller’s market at 27.2% and townhomes sit in a seller's market at 22%.

The market has begun to absorb and adjust to the new realities. We expect to an uptick in sals volumes and in some prices during the second half of 2018."

The key to success in any market is to be well prepared. My top priority is to help you navigate these changes in all types of market conditions. If you are planning a change in lifestyle, let's work together to make it happen. I look forward to working for you. Regards, Dodi 604.644.3634

The MLS® HPI Benchmark Price of residential properties in July 2018 vs July 2017 were:

• Metro Vancouver: -1.5 % for a single family home, +13.6% for a condo, and +12.1% for a townhome
• North Vancouver: -2.4%% for a single family home, +10% for a condo, and +8.7% for a townhome
• West Vancouver: -8.2% for a single family home and +8.5% for a condo
• Coal Harbour +16% for a condo

• Metro Vancouver's Detached properties is a buyer's market at 9.7% with 651 sales out of 6,713 listings
• Metro Vancouver's Condo properties is a seller's market at 27% with 1,084 sales out of 3,985 listings
• Metro Vancouver's Townhome properties is a seller's market at 22% with 314 sales out of 1,413 listings
• North Vancouver Detached properties is a buyer's market at 11.4% with 52 sales out of 470 listings
• North Vancouver Condo properties is a seller's market at 33% with 76 sales out of 228 listings
• North Vancouver Townhome properties is a balanced market at 20% with 19 sales out of 95 listings
• West Vancouver Detached properties is a buyer's market at 5.4% with 32 sales out of 596 listings
• West Vancouver Condo properties is a balanced market at 18.4% with 18 sales out of 98 listings
• Coal Harbour Condos are in a balanced market at 16% with 14 sales out of 87 listings

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

If you are interested in a report for another market don't hesitate to contact me: 604.644.3634 or dodi.t@shaw.ca

*Areas covered in Metro Vancouver include: Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver, West Vancouver, Richmond, Burnaby, Coquitlam, Tsawwassen, Ladner

 The accuracy and completeness of the information is not guaranteed. Data was current on August 2nd, 2018 from the Real Estate Board of Greater Vancouver