The Greater Vancouver Real Estate market experienced a mighty sales figure for the month of July at 2,976 sales. This 40.4% percent increase which I'm sure many of you have heard from the media is in direct comparison to July 2012. At that time 1 year ago activity had slowed quite significantly.
One of the most important determinants of market conditions is the Sales-to-Active-Listings ratio. This figure for the month of July was 17.7% for all of Greater Vancouver, representing a one month increase of 2.5% compared to June 2013. We have not seen a number this high since April 2012 and it demonstrates that our market is heating up again. Some sub markets in metro Vancouver saw above average figures, although most of the hot markets were outside of the Metro area such as New Westminster, Burnaby, Coquitlam and Port Coquitlam.
All in all, July was an extremely strong month across all Greater Vancouver Markets. We expect a minor slow down in August, as typically Buyer's are less motivated to Purchase/sell as many are traveling, visiting/hosting family etc.