Thanks for taking the time to look at my monthly real estate update for South Delta and the Real Estate Board of Greater Vancouver (REBGV).
Here is a link to the complete set of charts and graphs – it may be useful to refer to them as you read through this piece!
Here is a link to the Real Estate Board of Greater Vancouver media release.
Last month’s sales were 9.8% above the 10 year October sales average.
“Home buyers have more confidence today than we saw in the first half of the year,” says Ashley Smith, REBGV president. “With prices edging down over the last year and interest rates remaining low, hopeful home buyers are becoming more active this fall.”
The second half of 2018 and first half of 2019 were noted as being historically slow for sales which picked up noticeably in May of this year.
To put this into perspective here is a reflection on the sales level of last month:
- Detached – with 943 sales the busiest month since Oct 2017 (945 sales)
- Attached – with 536 sales the busiest month since Oct 2017 (550 sales)
- Apartment – with 1384 sales the busiest month since May 2018 (1431 sales)
Listings available levels available (October) since 2016:
- Detached – fairly similar across all 4 years
- Attached – similar to 2018 but much greater than 2016 & 2017 – by just over 50%
- Apartment – almost the same as 2018 but higher than 2016 (by 72%) and 2017 (by 105%)
Prices – House Price Index – typical prices
All the graphs seem to show local bottoms with small upturns. The next 2 – 3 months will be interesting to watch as they are typically slower due to the seasonality yet we seem to be heading in an upward direction. The spring will be a better indicator of a general trend as it is a much busier time of year.
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