highlights • The changing dynamics of supply and demand throughout the region are being reflected in recent price movements, with August’s median prices rising by 3% for detached homes, by 1.7% for townhomes, and by 0.2% for condos versus July 2019. • Compared to one year ago, August’s median prices were down by 4% for detached homes, by 8% for townhomes, and by 5% for condos. • With the higher-end of the market recently showing signs of stability, both the detached-to-townhome and townhome-to-condo price ratios increased in August, rising to 1.75 and 1.27, respectively.
median prices THE RENNIE ADVANCE
AUGUST 2019
$1,600,000
$1.29 M
August
$1,200,000
vs Jul 2019 3%
$800,000
vs Aug 2018 4%
DETACHED median sales price
$400,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$1,000,000
August
$736,000
$800,000
vs Jul 2019 1.7%
$600,000
$400,000
vs Aug 2018 8%
TOWNHOME median sales price
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
$800,000
August
$581,000
$600,000
vs Jul 2019 0.2%
$400,000
vs Aug 2018 5%
CONDO median sales price
$200,000
$0
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
CurrentasofSeptember3,2019.Alldata from theRealEstateBoardofGreaterVancouver.The informationsetoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent, warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipient of the informationshould takestepsas the recipientmaydeemnecessary toverify the informationprior toplacingany relianceupon the information.The informationmaychangeany timewithoutnoticeorobligation to the recipient fromRAR&RMS.
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