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HofVan Real Estate Group always puts the information needs of our clients first. Read these blog posts for tips, suggestions and other newsworthy notes to help sellers and buyers in the Lower Mainland real estate market.


Buying and Selling Vancouver Real Estate September 2020

It was a busy market for Vancouver real estate in September 2020.

September 2020 Vancouver Real Estate Has Record Amount of Sales

A total of 3,643 residential homes sold in Vancouver. The Real Estate Board of Greater Vancouver reported a 56.2% increase in sales for September 2020 compared to September 2019. By comparison to last year, September 2019 had a total of 2,333 sales recorded.

Similarly September 2020 also had more sales than August 2020. The previous month had 3,047 sales.

In addition September 2020 real estate sales beat the 10-year average for Vancouver for the month of September. September 2020 had the highest sales for the month average.

Number of Listings Increased for September

There was also an increase in listings for the month. September 2020 had 6,402 newly listed residential properties for the month. In comparison to September 2019 this was a 31.6% increase. September 2019 had 4,866 homes newly listed on MLS®.

Compared to August 2020 this is a 10.1% increase. August had 5,813 homes listed.

Inventory is Growing

September 2020 had 13,096 active homes listed. This is a 2.3% increase compared to August 2020. August’s total was 12,803.

However this is smaller compared to September of last year. In comparison September 2019 had 13,439 active listings.

September 2020 Vancouver Real Estate was a Seller’s Market

A seller’s market as defined by the real estate board is when the sales-to-active ratio is above 20%. The detached market had a ratio of 28.3%. Similarly condos had a ratio of 24.8%. Finally townhomes had a ratio of 36.1%. Altogether the ratio for all properties was 27.8%.

Detached Sales

September 2020 had a total of 1,317 sales. A 76.8% increase compared to September 2019. The benchmark price for a home in September 2020 was $1,507,500.

The number of sales increased by 1.1% compared to August 2020.

Condo and Apartment Sales

In comparison there were 1,596 sales for apartments. September 2020 surpassed September 2019 by 36.9%. The benchmark price for a condo was $683,500.

Sales decreased by 0.3% compared to August 2020.

Attached Home Sales

Attached properties also surpassed September 2019. Townhouses and Duplexes are some examples of attached homes. September 2020 had 730 attached sales. A 73% increase compared to September 2019. The benchmark price was $809,900.

Sales increased by 0.4% compared to August 2020.

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.