News: Vancouver Real Estate Market

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Posted in BC housing market, Greater Vancouver Housing, housing forecast, Housing Market, Housing Market Statistics, Royal LePage Market Forecast, Second Quarter Statistics
 


Second quarter regional highlights:

  • Aggregate price of a home in Canada rose 25.3% year-over-year in the second quarter
  • Demand expected to outstrip supply with upward pressure on prices, yet the pace of increases should moderate as peak price appreciation was reached in early Q2
  • Greater Montreal's aggregate home price forecast to increase 17.5% year-over-year; the highest in Canada among forecasted regions
  • Detached house prices continue to outpace condo appreciation, but the gap is narrowing...
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Posted in Attached Homes, BC Home Sales, Bungalow, Condominium, Demand, Detached Homes, Greater Vancouver, Home Buyers, Home Owners, Impact of COVID-19 on housing, Metro Vancouver, Properties For Sale, Real Estate Forecast, Real Estate Forecast, Real Estate Sales, Real Estate Statistics, Royal LePage, Second Quarter Statistics, Supply, The New Normal, Vancouver Real Estate

Royal LePage revises Canadian home price forecast upwards to 2.3% by year-end 2020, as low rates and pent-up demand face limited housing supply.

Real Estate Second Quarter Statistics 2020

What does this mean for Greater Vancouver?

In the second quarter, the aggregate price of a home in Greater Vancouver increased by 1.9% year-over-year to $1,109,069. Based on housing type, the median price of a standard two-storey home in Greater Vancouver increased by 3.7% year-over-year to $1,455,027 in the second quarter. During the same period, the median...

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