August 2018 Housing Market Update - Sales last month reached the lowest levels since 2000

For last month, residential housing sales in Metro Vancouver* reached their lowest levels since the year 2000. There continues to be fewer active buyer's in today's market. Both Buyer's and Seller's are waiting it out. ​"The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $1,087,500. This represents a 6.7 per cent increase over July 2017 and a 0.6 per cent decrease compared to June 2018." Home prices have trended up in general, but we do a see a slight decrease from June to July. This makes sense as with less active buyers, it is helping drive home prices down across Metro Vancouver*. 

*These statistics include areas covered by the Real Estate Board of Greater Vancouver which include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

For all your Real Estate needs,

Jerome Susi

Real Estate Agent
Team 3000 Realty Ltd. 
M: 604-500-5326
E: jerome.susi@gmail.com
www.jeromesusi.com