August 2022 housing sales marked 40.7 per cent drop compared to the same month in 2021.
In its August report, the Real Estate Board of Greater Vancouver says the region completed 1,870 sales last month, which is a 40.7 per cent drop compared to the 3,152 sales in August 2021.
This year's August total equates to a 0.9 per cent decrease compared to the 1,887 homes sold in July 2022. "With inflationary pressure and interest rates on the rise, home buyer and seller activity shifted below our long-term seasonal averages this summer," REBGV spokesperson Andrew Lis said in a news release today . As of last month, Burnaby East saw a benchmark price of $1,109,000 for residental/composite homes.
Burnaby North recorded a benchmark price of $1,012,200 while Burnaby South held a benchmark price of $1,092,900 . Burnaby South was over two million at $2,105,200 and Burnaby East's benchpark price was $1,130,000 . Townhomes also saw drops in all three Burnaby regions with Burnaby South at a benchmark price of $964,300 .Areas covered by the REBGV include Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver and Whistler.
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