Statistics of the REBGV for July 2012

The statistics are averages and do not apply equally to all areas.

In July 2012 the number of sales of all types of residential homes decreased by 18.4% compared to July 2011. The sales of condos and apartments decreased by 10.9% while the sales of detached houses decreased by 28.4%.


New listings decreased by 5.8% compared to July 2011 and by 14.5% compared to June 2012. The total number of listings was 18.8% higher than in July 2011 and 2.2% lower than on June 2012.

In July 2012 the benchmark price of all residential properties in Greater Vancouver was 0.6% higher than in July 2011. In the last twelve months the benchmark price of Vancouver houses increased by 1.4% while the benchmark price of Vancouver condos and apartments remained the same.

Link to REBGV report

The unpredictability of the real estate market

Many Vancouver Realtors are on holiday in the expectation that sales will be slow during the Olympics. Others stayed in the hope that Olympic visitors will on the spur of the moment decide to buy a holiday home in the beautiful place they just got to know. Both expectations turned out to be incorrect.
Sales are fast and it is very easy to show properties in the downtown core as long as you do not get too close to BC Place. Translink has calculated that there is 30% less traffic on the city roads but it feels like more - driving is such a pleasure now.
So far I have not heard of any impulsive real estate purchase by an Olympic visitor but maybe that is still to come. Or maybe this will only happen in the months to come.
This is such a wonderful time: happy people everywhere, an excited holiday atmosphere with lots of free entertainment and galloping sales.