The market stats are in for June, and the supply of homes has continued to grow as home buyer demand is way below average in June. Some quick stats:
- Last month’s sales were 34.7% below the 10-year June sales average. This is the lowest total since 2000.
- Home sales in the region totalled 2,077 in June 2019, a 14.4 per cent decrease from the 2,425 sales recorded in June 2018 and a 21.3 per cent decrease from the 2,638 homes sold in May 2019.
- The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,968, a 25.3 per cent increase compared to June 2018
- Sales of detached homes in June 2019 reached 746, a 2.6 per cent decrease from the 766 detached sales recorded in June 2018. The benchmark price for detached properties is $1,423,500.
- Sales of apartment homes reached 941 in June 2019, a 24.1 per cent decrease compared to the 1,240 sales in June 2018. The benchmark price of an apartment property is $654,700.
- Attached home sales in June 2019 totalled 390, a 6.9 per cent decrease compared to the 419 sales in June 2018. The benchmark price of an attached unit is $774,700.
"We’re continuing to see an expectation gap between home buyers and sellers in Metro Vancouver. Sellers are often trying to get yesterday’s values for their homes while buyers are taking a cautious, wait-and-see approach."
Ashley Smith, REBGV president