August 2017 market update

“First-time home buyers have led a surge this summer in demand in our condominium and townhome markets,” Jill Oudil, REBGV president said. “Homes priced between $350,000 and $750,000 have been subject to intense competition and multiple offers across the region.”

  • August 2017 home sales increased 22% compared to same month last year. It was 20% higher than the 10-year August sales average.
  • Sales-to-active listings ratio for August 2017 was 35% for all property types or:

*16% for single family houses (balanced market)
*45% for townhouses (seller’s market)
*76% for condos (seller’s market)

Click here to view our August 2017 market update video featuring Board President Jill.