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 greater Vancouver is 34% which officially makes it a seller’s market.
Reasons why:
SALES– total sales last month were 854, which is 34% less year over year & 2% less month over month.
SALES PRICE– The median sale price was $721,000 which is a 16% increase over this time last year and no change over the previous month.
FIND OUT YOUR MARKET SPEED– Learn the official market speed in your neighbourhood and price point by requesting a free greater Vancouver snap stats report from us!
ACTIVE LISTINGS– There were 2,479 active listings last month which is a 10% decrease over this time last year and a 2% decrease month over month.
DAYS ON THE MARKET– A property was on the market for 13 days before selling which is 28% less than one year ago and 13% less than the previous month.
