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August Stats from the Real Estate Board of Greater Vancouver

Blog by Ryan Windsor | September 8th, 2009

Hello everyone,

 September already? Wow! What a great summer so far! I hope that all of you have had great summer yourselves and got your fill of fresh blueberries and sunshine. Amanda and I have had a lot of fun this summer and we realized that we were having so much fun that we want to share that with someone else! No, not what you could be thinking, however, we are now the proud parents of a 4lb 2oz, Maltipom (Maltese x Pomeranian) named Casey. (Pure coincidence Blair) She’s cute, she’s fluffy and we love her very much!

 I would also like to thank Jana for thinking of me and referring a client. Jana, I appreciate that very much!

 Now for the numbers. The August MLS® statistics were released today and the summarized main point is that this past summer market has been very active with sales of Detached Homes in August up MLS® wide by 155% compared to Aug 2008, and Condo’s up 97% from the same time.

 Other notable highlights include:

  •      The MLSLink® Housing Price Index benchmark for all properties is up 11.4% since the beginning of the year from $484,211 to $539,600.
  •      Home prices, compared to August 2008 levels are DOWN 1.1% (not like the 15%-19% we were seeing in Jan/Feb)
  •      MLS® sales in August 2008 = 1,568. August 2009 rose 3,441.

Download the complete stats package by click here.

 I have been having many conversations lately about the direction of the market and where it can go from here and my answer is that I think the market is going to stabilize into the more traditional real estate time frames: I think that March to July will remain the busiest months with breaks in August and early September, while mid-September until the end of November/early December will become the secondary active market. There will always be sales and transactions every month, however, it is my opinion that the lion’s share of sales will occur in these two periods.

Please let me know if you have real estate questions that you would like answers to or if I can help out with your next sale or purchase,


Ryan Windsor