Kitsilano Real Estate Market Update Blog – August 2017 – General Market Conditions

HOW’S THE MARKET?…

Our take and Market Update: Well, the summer slow -down seems to be in full effect. And now with the smoke gone Buyers and Sellers seem to be focusing on summer plans and not real estate. – Can’t blame them, get some sun.

Inventory is sitting at the standard summer numbers based on the last 2 years (around 9000 active listings in REBGV)  but sales are way down. May and June hit peak numbers for this year with 4,368 sales in May and 3,908 in June.  last month saw only 2,971 sales.  Other numbers have followed suit. The average price per sq.ft is down from $699 to $687/sqft and average sales prices are down from $1,109.235 to $1,034.438.

Here is the REBGV President with a general market summary

https://www.rebgv.org/podcasts/july-2017-market-summary