July 2020 Metro Vancouver Housing

There was a total of 10,090 residential unit sales recorded by the Multiple Listing Service® (MLS®) last month which is a 26.6% increase from July 2019. There was a 12.9% increase in the average MLS® residential price in BC from $682,702 in July 2019 to $770,810. Total sales dollar volume in July was $7.8 Billion, a 43% increase over 2019.

"The strong recovery in sales activity continued in July," said BCREA Chief Economist Brendon Ogmundson. "Increased demand for more living space combined with an undersupplied market is producing significant upward pressure on home prices, particularly in the market for single-family homes."

Active listings remain down significantly year-over-year, creating upward pressure on prices, though increased demand for single-family homes has somewhat skewed average prices in some markets.

Year-to-date, BC residential sales dollar volume was up 8.4% to $32.5 Billion, compared with the same period in 2019. Residential unit sales were down 1.4% to 43,718 units, while the average MLS® residential price was up 10% to $754,842. 

The average price and unit sales, broken down by statistics from each Real Estate Board can be found below:

Source: British Columbia Real Estate Association

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.