Mostly Sunny Forecast: July Market Update
The July weather was outstanding—other than a few days of rain which helped settle the dust, cleanse the air, and green up our surroundings. The Fraser Valley and Vancouver real estate market pattern in July was almost identical to the July weather we experienced. Mostly sunny and blue skies throughout, with the odd soggy and cloudy spot. The sun certainly was shining bright on the single detached market in all areas, except Chilliwack for the month of July. STR numbers in Chilliwack dropped 9% from the previous month. Townhomes throughout enjoyed mostly sunny skies with only New Westminster seeing a significant decline in the STR. However, the soggy and cloudy spots still remain in the condo market. Many of the sub areas remain soft, with some STR numbers as low as 7%, creating an excellent buying opportunity.
Please feel free to contact me if you have any questions or would like to discuss the market in more detail. I am always available to serve. You can reach me at 604-807-4366 or randy@eximus.com
Enjoy your August!
STR (Sell Through Rate) Formula = Sales ÷ Active Listings + Failed Listings + Sales
