July 2020 Vancouver Real Estate Market Update
The Real Estate Board of Greater Vancouver is reporting a strong June with favorable numbers. Month-over-month, sales increased by 64.5% with 2443 total. Months of inventory dropped 30% and now sits at 4.7 months, which is a balanced market. Benchmark price dipped slightly by 0.3% to $1,025,000.
June 2020 was much stronger than June 2019 even with COVID-19. Sales are up over 17% and the benchmark price is also up by 2.7%.
How do the first and second quarter of 2019 compare to 2020? You might be surprised to see that 2020 is still outselling 2019 even with COVID-19 and government quarantines introduced. What do the numbers look like? Take a look at my market update video here.