August 2020 Market Update

August 2020 Market Update

“Buyers are using low interest to shift through the market”

An overall low inventory count has seen a flurry of activity on the well priced listings. Sales are very strong! Let’s see what happens after the long weekend into the fall.

NORTH VANCOUVER

HOT SUMMER MARKET !

Summer demand has hit the market with a low inventory count.
We are seeing interest rates at a all time low which has added to activity.
Houses up 14.2% townhouses up 12.8% condos down 1.3% compared to August 2019.

                                    2020      2019

Total Listings            903        915

Sales                             249       184

Days on Market          13          29

Moving forward. The uncertainty of Covid-19 is interesting.
To predict the fall, look at inventory counts come after the September long weekend.
It’s likely that we will see more sales as the market works through the pent-up activity, though we have yet to see any major shifts in actual selling dollars.

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