There has been a reduce in demand across condos, town homes, and detached homes in Metro Vancouver. Some quick stats:
- 1,929 sales in August, which is a 36.6% decrease from the same month in 2017
- Sales were 25.2% below the 10-year average
- 3,881 listings uploaded in August
- sales-to-active listings ratio for August is 16.3%
- prices have declined over the past two months
“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, REBGV president said. “Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years.”