Contrary to seasonal trends, Greater Vancouver's home sales dropped from May to June, according to new data from REBGV. Local experts weigh in. REBGV | realestate realestatenews homesales
In June, the Greater Vancouver region recorded a total of 2,968 home sales, after recording 3,381 inThe May total consisted of 1,043 single-detached home sales, 608 townhouse sales, and 1,730 condominium sales. In June, those numbers dropped across the board to 848, 547, and 1,573.
For the sales-to-new-listings ratio, a ratio of 40% or lower is considered to be favouring buyers, a ratio of 55% or higher is considered to be favouring sellers, and anything in between is considered a balanced market. And the same can be said across the property types. After May, the sales-to-active-listings ratio was 28.5% for single-detached homes, 45.0% for townhouses, and 45.5% for condominiums. After June, all three have decreased and are now 20.9%, 38.5%, and 39.4%, respectively.While there may be questions about supply, prices remain steady and are still increasing.
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