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  • Writer's pictureSutton Group-West Coast Realty - Cissy Yee

Real Estate Market Update in B.C. - July 2020

Strong Growth of Sales and Listings (23% More Sales Compared to Last Year)

July 2020 Real Estate Market figures reflected a steady and strong sales increase over the last years. The sales have increased by 23% compared to July 2019. Also, the sales were 9.4% higher than the average July sales of the last 10 years.

There was as well a huge increase in the number of new listings, which reflected a 29% increase over the last year.

House Prices Increased

The overall home price index showed a 4.5% increase over the last year. This can be considered as a strong increase after a flat price index over the course of the COVID-19 period.

Contrary to the previous months, the biggest price increase was in detached homes with 5%. Townhomes and condos showed similar increases with 3.7% and 4.2% respectively.

The prices and the number of sales and listings show that the real estate market is currently back to its track to the pre-COVID period.

Below is a quick summary of sale figures by region.

Read the original article from Jovi Realty Inc. here:


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