October Sees Just as BIG sales output as September!
The Short, the Quick, the Easy summary
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,858 in October 2019, a 45.4% increase from the 1,966 sales recorded in October 2018, and a 22.5% increase from the 2,333 homes sold in September 2019.
How does it all break down?
Sales of detached homes in October 2019 reached 938, a 47.3% increase from the 637 detached sales recorded in October 2018 & a 27% increase over September 2019.
Attached(townhouse) Attached home sales in October 2019 totalled 536, a 55.8% increase compared to the 344 sales in October 2018 & a 19% increase over September 2019.
Sales of condos reached 1,384 in October 2019, a 40.5% increase compared to the 985 sales in October 2018 & a 27% increase over September 2019.
Q3 Analysis shows that the sales volumes increased by:
- 34% Detached homes
- 35% Attached townhouses
- 19% Condos
over Q3 in 2018 for Greater Vancouver
Real estate prices over the last 120 days have been very stable and limited movement in the +/- 1% for most regions in Greater Vancouver and in all asset classes.
- REBGV Sourced Summary
Real estate rebound continues for Fraser Valley
Darin Germyn, President of the Board, says, “Our market started to pick up in the summer and we’ve been steadily improving since. It’s rare to see October home sales in the Fraser Valley outpace April and that’s what we’ve seen this year; our typical spring and fall markets have flipped.
Detached homes have seen a 39% increase in sales volumes compared to October '18 and a 16% increase in sales from September '19.
Attached Townhouses have seen a 7% decrease in sales compared to October '18 and the same sales volume as September '19.
Condos have realized a 42% increase in sales compared to October'18 and a 15% increase in sales from September '19.
ATTENTION FUTURE SELLERS
Fraser Valley - Currently Active Listings are down 14% from the same period in 2018.
Greater Vancouver - Current Active listings in October are down 17% from the same period in 2018.
This tells us that there is LESS COMPETITION in selling your home.