The Real Estate Board of Greater Vancouver reported that residential home sales in the Metro Vancouver area increased by 36.6 percent in August, recording 3,047 sales to exceed August 2019’s record of 2,231. There was a slight decrease in sales from July 2020, where 3,128 homes were sold in the region.
REBGV Chair Collette Gerber expressed that many that put their buying and selling plans on hold in the spring returned to the market in the summer. August 2020’s sale averages were 19.9%, outpacing historical averages of the last decade.
While home selling and listing activity remained steady across Metro Vancouver over the summer, autumn will be new territory. Gerber concluded, “Like everything else in our lives these days, the uncertainty COVID-19 presents makes it challenging to predict what will happen this fall.”
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