September 2015 Market Update – Vancouver Real Estate
September 10, 2015
Usually, we see an uptick in market activity come September as clients and realtors return to their typical schedules. This year appears to continue that historical pattern. Across the board we see increased activity as demonstrated by more listings and sales over last month. We also are seeing a continuation of the strong market that’s dominated our year so far as prices continue to rise at a steady pace.
“Residential home sales have been trending at 25 to 30 per cent above the ten-year sales average for most of the year. The number of homes listed for sale hasn’t been keeping up with the
demand,” Darcy McLeod, REBGV president said. “It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.”
“At no point this year has the number of homes listed for sale exceeded 14,000, which is the first time this has occurred in the region since 2007,” McLeod said.
As our board president states, lack of supply is driving prices upwards. There is significant demand, but very few people that are willing to sell. Should you be thinking of buying or selling, get in touch with us to help you navigate the process.