The latest batch of government statistics adds more evidence to suggest the 15% tax on foreign buyers is having a significant effect on the level of non-Canadian purchasers in the market.
The market speed for Metro Vancouver is 22% which officially makes it a seller’s market.
Reasons why:
SALES- Total sales last month were 1,134, which is 44% less year over year & 2% less month over month.
SALES PRICE- The median sale price was $1.21 million which is a 14% increase over this time last year and a 1% increase over the previous month.
FIND OUT YOUR MARKET SPEED– Learn the official market speed in your neighbourhood and price point by requesting a free Metro Vancouver snap stats report from us!
ACTIVE LISTINGS– There were 5,110 active listings last month which is a 6% increase over this time last year and a 1% increase month over month.
DAYS ON THE MARKET– A property was on the market for 19 days before selling which is 27% more than one year ago and 12% more than the previous month.
