July stats
Last month, demand continued to outpace supply - a dominant trend this year for the Greater Vancouver real estate market. Case in point: although sales for the year have increased by 5.1 per cent, listings for the same time period actually decreased by 8.4 per cent. That means fewer inventory for all the eager buyers in the market! (And likely higher prices as a result!)
Looking at July’s stat’s we see that the real estate market in Greater Vancouver has not taken a break at all. Last month, sales for apartments, detached and attached properties increased by 21 per cent compared to July 2004’s figures. Impressive! Residential sales alone increased 5.1 per cent during the same period while apartment sales rose 18.6 per cent. Sales of attached properties experienced the biggest increase: a 33.4 per cent rise from July 2004. Looks like 2005 year will be yet another stellar year for real estate.