Is Vancouver’s housing market losing its sizzle? Some facts on August home sales
VANCOUVER — Some facts on home sale figures for August released Friday by the Real Estate Board of Greater Vancouver, the first month of data available since the B.C. government brought in a tax on foreign buyers:
SALES DOWN, PRICES UP: Sales dropped by 26 per cent in August compared to the same month last year, but the composite benchmark price for all residential properties in Metro Vancouver was $933,100, a 31.4 per cent jump compared to August 2015.
TOTAL SALES: The total number of homes sold in August was 2,489, down from 3,362 sales in August 2015, and 10.2 per cent less than the 2,771 sales in August 2014. Last month’s sales were 3.5 per cent below the 10-year sales average for the month.
MONTH-TO-MONTH DROP: Sales were down in August by 22.8 per cent compared to July.