Vancouver home

Vancouver Real Estate Detached Market Report July 2017

Steve Saretsky -

Detached Homes Enter Buyers Market in July

If you read my June Detached Report I highlighted how the detached market was transitioning towards a more balanced market after heating up during the busier spring season. In July, this trend continued. Vancouver single family homes officially dipped back into buyers territory with a sales to actives ratio of 12%.

Detached Sales

Detached sales have slowed considerably in the last few months. The data suggests this is more than a normal seasonal slow down. REBGV detached sales fell a modest 12% year over year, but now remain 20% below the ten year average for the month of July. Meanwhile, Vancouver West & East detached home sales recorded the fewest July sales over the past decade.

New Listings & Inventory

Similar to last month, new listings have been normalizing. REBGV new listings fell 8% year over year but were 4% above the ten year average for July. This appears to be happening across the board. REBGV active inventory dropped 2% year over year.

Sales to Actives Ratio

REBGV- 17%
Vancouver East- 14%
Vancouver West- 10%
Burnaby- 11%

sales/actives ratio
Sales to Actives Ratio Chart for REBGV & FVREB

Sales to Actives ratios dropped month over month, continuing a downwards trend from last month which will likely continue in a slower August selling season.


The average sales price turned down this month for REBGV detached homes. Year over year the average sales price is down 2%, the median sales price is down 1%.


Detached home prices are essentially flat year over year. Most of the price declines and softness in the market is from higher end luxury homes. Especially for Vancouver homes above $3 million. The seasonal downwards trend likely gives the buyer a slight advantage moving forward. With that being said, well priced, more affordable detached homes are still selling well and sometimes in multiple offers.

Get a weekly Roundup of Market News Sent to your Inbox.

Join the Monday Newsletter

Every Monday morning you'll receive a short and entertaining round-up of news on the Vancouver & Canadian Real Estate markets.

"*" indicates required fields

The Canadian Economy

Steve Saretsky -

Happy Monday Morning! We got a string of new data this past week confirming inflation in consumer goods, and housing are proving to be more than transitory. Canada’s consumer price index continued to drift higher with prices hitting an 18 year high, up 4.7% from last October. The recent floods in BC...

Steve Saretsky -

The calls for impending interest rate hikes continues. CIBC’s chief economist, Benjamin Tal, was out recently suggesting the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022. “I think there is a risk of getting into the market at today’s rates,” noted Tal....

Steve Saretsky -

The BC Government announced it is looking at several cooling measures for the housing market in 2022. They have highlighted two measures. The first is an end to the blind bidding process, and the other is a mandatory “cooling off period” which will allow any buyer a 7 day recession...

Steve Saretsky -

The Bank of Canada continues to slowly drain liquidity after flooding the system with a firehose of cash during the pandemic. Bank of Canada governor Tiff Macklem announced the end of Canada’s QE program (also known as money printing). Furthermore, in Macklems words, “We expect to begin increasing our policy...

Steve Saretsky -

Consumer price inflation ripped higher in September, surging 4.4% year-over-year, the fastest pace of price increases in 18 years. Let’s discuss this further. We have an inflation problem and the Bank of Canada remains of the view that inflation will be transitory. Although they really can’t say otherwise, for if...

Get the Saretsky Report to your email every month

The Saretsky Report. December 2022