Single family home sales in Vancouver’s Westside and Eastside regions slowed as part of a market trend reflecting consumer uncertainty interest rate hikes and inflation. Despite this, Vancouver’s real estate market continues to see sales for single-family homes.
Sales of Detached Homes in Vancouver Westside continue to Drop
Vancouver Westside homes sales took a hit this month with the total sales dropping 33% from 70 solds to 47 solds. Despite this sharp decline in sales, the $3M – $3.5M price band led with 12 sales.
The most popular neighbourhoods in Vancouver West this month:
- Detached houses in South Cambie: 14% sales ratio
- Detached houses in Mackenzie Heights: 13% sales ratio
- Detached houses in Kerrisdale: 12% sales ratio
Single Family Homes in Vancouver Eastside
Sales of Single Family Homes in Vancouver Eastside were impacted similarly to Vancouver Westside. With an overall sales ratio of 10%, there were 54 solds and 526 units available – a 30% reduction in sales from the previous month.
Despite market challenges Strathcona, Fraser, Hastings Sunrise and Knight push ahead
Despite marginal growth or even reduction in inventory levels, some Vancouver East neighbourhoods are still pushing proportionally positive sales. As sales ratios fell in most neighbourhoods during the month of July, neighbourhoods such as Strathcona, Fraser and Hastings Sunrise and Knight saw little to negligible change in their sales ratios. This weathering of changing market conditions could possibly reflect a continued consumer preference for these areas.
View homes available in Strathcona, Fraser, Hastings Sunrise and Knight here!
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