There was no summer lull in the Vancouver housing market this year. Between June and August home sales were 25% above the 10 year sales average. In August there were 3,362 homes sold which is up 21.3% from last year.
On the listing side we continue to see a smaller supply of homes for sale. There were 4,281 homes listed on the regions MLS in August. All totalled there were 10,897 homes for sale on the MLS. This is down 26.2% from last year and is the lowest total we have since August 2005.
The benchmark price for all residential prices has risen to $708,500 which is up 12% over last year. The current sales-to-active listing ratio is 30.9% which indicates a strong sellers market across the GVRD.