August Market Update 2023
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August Market Update 2023
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Welcome to Episode 37 of The Mic for Vancouver Real Estate: August 2023 Market Update—Your Ultimate Guide to Dominating the Market!
Summer's wrapping up, and we've got a sizzling August update you won't want to miss!
The market's been a rollercoaster, but we've got the quick stats and hot takes to keep you ahead of the game.
Sales are up 21.4% from last August but down 6.5% from July. HPI Prices have hit $1,208,400, showing a slight year-over-year increase. Inventory is up but still below seasonal averages, and the sales-to-active ratio remains stable. Expert Andrew Lis says the market is defying expectations, and we're seeing a cooling trend in detached houses. If you're thinking of upsizing, now might be the perfect time.
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