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VANCOUVER, B.C. – February 2, 2016 – Home buyer activity remains at near record levels across the Metro Vancouver housing market.

Residential property sales in Greater Vancouver totalled 2,519 in January 2016, an increase of 31.7 percent from the 1,913 sales recorded in January 2015 and a 10.9 percent decline compared to December 2015 when 2,827 home sales occurred.

Last month’s sales were 46 percent above the 10-year sales average for the month and rank as the second highest January on record.

“Fundamental economics are driving today’s market. Home buyer demand is at near record heights and home seller supply is as low as we’ve seen in many years,” Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,442 in January 2016. This represents a 6.2 percent decline compared to the 4,737 units listed in January 2015 and a 119.8 percent increase compared to December 2015 when 2,021 properties were listed.

“The MLS® is the most powerful real estate marketing system in the country. If you’re thinking of selling, it’s important to talk with your REALTOR® about putting your home on the MLS® system to ensure your property gets maximum exposure,” McLeod said.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,635, a 38.6 percent decline compared to January 2015 (10,811) and a 10.1 percent increase compared to December 2015 (6,024).

The sales-to-active listings ratio for January 2016 is 38 percent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 percent mark, while home prices often experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.

Sales of detached properties in January 2016 reached 1,047, an increase of 34.1 percent from the 781 detached sales recorded in January 2015. The benchmark price for detached properties increased 27.9 percent from January 2015 to $1,293,700.

Sales of apartment properties reached 1,096 in January 2016, an increase of 35.5 percent compared to the 809 sales in January 2015.The benchmark price of an apartment property increased 19.4 percent from January 2015 to $456,600.

Attached property sales in January 2016 totalled 376, an increase of 16.4 percent compared to the 323 sales in January 2015. The benchmark price of an attached unit increased 16.4 percent from January 2015 to $563,700.

 

 

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VANCOUVER, B.C. – January 5, 2016 – In a year when the number of homes listed for sale was below historical averages, actual home sales in Metro Vancouver set a new record.

The Real Estate Board of Greater Vancouver (REBGV) reports that 2015 home sales were the highest annual total in REBGV history. This was powered early in the year by four straight months with more than 4,000 sales a month from March to June, another first for REBGV.

Sales of detached, attached and apartment properties in 2015 reached 42,326, a 27.8 percent increase from the 33,116 sales recorded in 2014, and a 48.4 percent increase over the 28,524 residential sales in 2013.

The total number of homes listed for sale on the MLS® in 2015 ranked fifth in the last ten years, while the MLS® Home Price Index (HPI) saw double-digit year-over-year price increases.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in 2015 reached 57,249. This is an increase of 2.1 percent compared to the 56,066 properties listed in 2014 and an increase of 4.6 percent compared to the 54,742 properties listed in 2013.

With sales-to-active-listings ratios above 25 percent for 11 months in 2015, the Metro Vancouver market experienced seller’s market conditions for much of the year.

"Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," Darcy McLeod, REBGV president said. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year."

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $760,900. This represents an 18.9 percent increase compared to December 2014.

“We often hear economists say that seller’s market conditions put upward pressure on home prices,” McLeod said. “That was certainly the case in 2015, with price increases ranging from 14 to 24 percent depending on property type.”

December summary

Residential property sales in Greater Vancouver totalled 2,827 in December 2015, an increase of 33.6 percent from the 2,116 sales recorded in December 2014 and a 19.8 percent decline compared to November 2015 when 3,524 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,021 in December 2015. This represents a 7 percent increase compared to the 1,888 units listed in December 2014 and a 40.4 percent decline compared to November 2015 when 3,392 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 6,024, a 41.6 percent decline compared to December 2014 and a 25.6 percent decrease compared to November 2015.

Sales of detached properties in December 2015 reached 1,136, an increase of 36.4 percent from the 833 detached sales recorded in December 2014. The benchmark price for detached properties increased 24.3 percent from December 2014 to $1,248,600.

Sales of apartment properties reached 1,225 in December 2015, an increase of 34.3 percent compared to the 912 sales in December 2014.The benchmark price of an apartment property increased 14 percent from December 2014 to $436,200.

Attached property sales in December 2015 totalled 466, an increase of 25.6 percent compared to the 371 sales in December 2014. The benchmark price of an attached unit increased 13.6 percent from December 2014 to $543,700.

 

 

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VANCOUVER, B.C. – December 2, 2015 – Home sales reached near record levels in November even as home listings began the traditional year-end decline.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,524 on the Multiple Listing Service® (MLS®) in November 2015. This represents a 40.1 percent increase compared to the 2,516 sales recorded in November 2014, and a 3.3 percent decrease compared to the 3,646 sales in October 2015.

Last month’s sales were 46.2 percent above the 10-year sales average for the month and rank as the second highest November on record for residential property sales.

“November is typically one of the quietest months of the year in our housing market, but not this year,” Darcy McLeod, REBGV president said. “The ratio of sales to home’s available for sale reached 44 percent in November, which is the highest it’s been in our market in nine years.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,392 in November. This represents a 12.5 percent increase compared to the 3,016 new listings reported in November 2014.

The total number of properties listed for sale on the real estate board’s MLS® is 8,096, a 35 percent decline compared to November 2014 and a 15.4 percent decline compared to October 2015.

“Demand remains strong and there are housing options at different price points throughout the region,” McLeod said. “It’s important to work with your REALTOR® to understand your options before you embark on your home buying journey.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $752,500. This represents a 17.8 percent increase compared to November 2014.

The sales-to-active-listings ratio in November was 43.5 percent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 percent mark, while home prices often experience upward pressure when it reaches 20 percent, or higher, in a particular community for a sustained period of time.

Sales of detached properties in November 2015 reached 1,335, an increase of 31.9 percent from the 1,012 detached sales recorded in November 2014, and a 44.2 percent increase from the 926 units sold in November 2013. The benchmark price for a detached property in Metro Vancouver increased 22.6 percent from November 2014 to $1,226,300.

Sales of apartment properties reached 1,553 in November 2015, an increase of 47.6 percent compared to the 1,052 sales in November 2014, and an increase of 60.3 percent compared to the 969 sales in November 2013. The benchmark price of an apartment property increased 14 percent from November 2014 to $435,000.

Attached property sales in November 2015 totalled 636, an increase of 40.7 percent compared to the 452 sales in November 2014, and a 49.3 percent increase from the 426 attached properties sold in November 2013. The benchmark price of an attached unit increased 11.3 percent between November 2014 and 2015 to $536,600.

 

 

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Home buyers remain active across Metro Vancouver despite a reduced supply of homes for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in *Metro Vancouver reached 3,646 on the Multiple Listing Service® (MLS®) in October 2015. This represents a 19.3 percent increase compared to the 3,057 sales recorded in October 2014, and a 9 percent increase compared to the 3,345 sales in September 2015.

Last month’s sales were 36.2 percent above the 10-year sales average for the month.

“Home sales are more than one-third above what’s typical for this time of year yet the supply of homes for sale is the lowest we’ve seen in five years,” Darcy McLeod, REBGV president said. “This activity has created favourable market conditions for anyone considering selling their home today.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,126 in October. This represents an 8 percent decline compared to the 4,487 new listings reported in October 2014.

The total number of properties listed for sale on the real estate board’s MLS® is 9,569, a 30 percent decline compared to October 2014 and an 11.4 percent decline compared to September
2015.

This is the lowest active listing total in Metro Vancouver since December 2010.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $736,000. This represents a 15.3 percent increase compared to October 2014.

The sales-to-active-listings ratio in October was 38.1 percent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 percent mark, while home prices often experience upward pressure when it reaches 20 percent, or higher, in a particular community for a sustained period of time.

Sales of detached properties in October 2015 reached 1,437, an increase of 13.1 percent from the 1,271 detached sales recorded in October 2014, and a 34.7 percent increase from the 1,067 units sold in October 2013. The benchmark price for a detached property in Metro Vancouver increased 20.1 percent from October 2014 to $1,197,600.

Sales of apartment properties reached 1,543 in October 2015, an increase of 21.7 percent compared to the 1,268 sales in October 2014, and an increase of 40.5 percent compared to the 1,098 sales in October 2013. The benchmark price of an apartment property increased 11.4 percent from October 2014 to $425,800.

Attached property sales in October 2015 totalled 666, an increase of 28.6 percent compared to the 518 sales in October 2014, and a 34.3 percent increase from the 496 attached properties sold in October 2013. The benchmark price of an attached unit increased 9.3 percent between October 2014 and 2015 to $526,700.

 

 

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VANCOUVER, B.C. – October 2, 2015 – Conditions continue to favour home sellers across *Metro Vancouver’s housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,345 on the Multiple Listing Service® (MLS®) in September 2015. This represents a 14.5 percent increase compared to the 2,922 sales recorded in September 2014, and a 0.5 percent decrease compared to the 3,362 sales in August 2015.

Last month’s sales were 32.9 percent above the 10-year sales average for the month.

“Residential home sales have been trending at 25 to 30 percent above the ten-year sales average for most of the year. The number of homes listed for sale hasn’t been keeping up with the demand,” Darcy McLeod, REBGV president said. “It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,846 in September. This represents a 7.9 percent decline compared to the 5,259 new listings reported in September 2014.

The total number of properties listed for sale on the real estate board’s MLS® is 10,805, a 27 percent decline compared to September 2014 and a 0.8 percent decline compared to August 2015.

“At no point this year has the number of homes listed for sale exceeded 14,000, which is the first time this has occurred in the region since 2007,” McLeod said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $722,300. This represents a 13.7 percent increase compared to September 2014.

The sales-to-active-listings ratio in September was 31 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 percent mark, while home prices often experience upward pressure when it reaches 20 percent, or higher, in a particular community for a sustained period of time.

Sales of detached properties in September 2015 reached 1,272, an increase of 0.2 percent from the 1,270 detached sales recorded in September 2014, and a 24.3 percent increase from the 1,023 units sold in September 2013. The benchmark price for a detached property in Metro Vancouver increased 18.9 percent from September 2014 to $1,179,700.

Sales of apartment properties reached 1,529 in September 2015, an increase of 28.7 percent compared to the 1,188 sales in September 2014, and an increase of 50.2 percent compared to the 1,018 sales in September 2013. The benchmark price of an apartment property increased nine percent from September 2014 to $415,100.

Attached property sales in September 2015 totalled 544, an increase of 17.2 percent compared to the 464 sales in September 2014, and a 23.1 percent increase from the 442 attached properties sold in September 2013. The benchmark price of an attached unit increased 8.1 percent between September 2014 and 2015 to $518,600.

 

 

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VANCOUVER, B.C. – September 2, 2015 – Metro Vancouver* home buyers spent the summer months searching for their next home. Between June and August, home sales were between 25 and 30 percent above the ten-year sales average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,362 on the Multiple Listing Service® (MLS®) in August 2015. This represents a 21.3 percent increase compared to the 2,771 sales recorded in August 2014, and a decrease of 15.5 percent compared to the 3,978 sales in July 2015.

Last month’s sales were 27.9 percent above the 10-year sales average for the month.

“There was no summer lull in our market this year. Home buyers have been working with their REALTORS® throughout the summer months,” Darcy McLeod, REBGV president said. “They’re motivated, but they’re competing for a smaller supply of homes for sale than is typical for this time of year — that’s the dynamic driving our market right now.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,281 in August. This represents an 8.7 percent increase compared to the 3,940 new listings reported in August 2014.

The total number of properties currently listed for sale on the region’s MLS® is 10,897, a 26.2 percent decline compared to August 2014 and a 5.3 percent decline compared to July 2015.

“Those who have a sound buying strategy and an understanding of current price trends are having the most success in today’s market,” McLeod said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $708,500. This represents a 12 percent increase compared to August 2014.

The sales-to-active-listings ratio in August was 30.9 percent. This is the sixth consecutive month that this ratio has been above 30 percent in Metro Vancouver.

Sales of detached properties in August 2015 reached 1,290, an increase of 11.4 percent from the 1,158 detached sales recorded in August 2014, and a 22.6 percent increase from the 1,052 units sold in August 2013. The benchmark price for a detached property in Metro Vancouver increased 17.5 percent from August 2014 to $1,159,600.

Sales of apartment properties reached 1,494 in August 2015, an increase of 32.7 percent compared to the 1,126 sales in August 2014, and an increase of 46.8 percent compared to the 1,018 sales in August 2013. The benchmark price of an apartment property increased 6.3 percent from August 2014 to $405,400.

Attached property sales in August 2015 totalled 578, an increase of 18.7 percent compared to the 487 sales in August 2014, and a 30.2 percent increase from the 444 attached properties sold in August 2013. The benchmark price of an attached unit increased 7.3 percent between August 2014 and 2015 to $511,500.

 

 

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VANCOUVER, B.C. – August 5, 2015 – Metro Vancouver home sales were more than a third above the 10-year average in July, while the number of homes listed for sale continues to trend below recent years.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver* reached 3,978 on the Multiple Listing Service® (MLS®) in July 2015. This represents a 30 percent increase compared to the 3,061 sales recorded in July 2014, and a decrease of 9.1 percent compared to the 4,375 sales in June 2015.

Last month’s sales were 33.5 percent above the 10-year sales average for the month.

“Today’s activity continues to benefit sellers as home buyers compete for the homes available for sale,” Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,112 in July. This represents a 3.8 percent increase compared to the 4,925 new listings reported in July 2014.

The total number of properties currently listed for sale on the region’s MLS® is 11,505, a 26.3 percent decline compared to July 2014 and a 5.5 percent decline compared to June 2015.

"Much of today’s activity can be traced to strong consumer confidence, low interest rates, and a reduced supply of homes for sale.” McLeod said. “We have about 5,000 to 6,000 fewer homes for sale today than we've seen at this time of year over the last five to six years,"

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $700,500. This represents an 11.2 percent increase compared to July 2014.

With the sales-to-active-listings ratio at 34.6 percent, the region remains in seller’s market territory.

“Although there aren’t as many homes for sale today compared to recent years, home buyers continue to have a range of housing options, at different price points, to choose from across Metro Vancouver,” McLeod said. “The diversity of housing options is part of what’s driving today’s demand.”

Sales of detached properties in July 2015 reached 1,559, an increase of 17.9 percent from the 1,322 detached sales recorded in July 2014, and a 24.8 percent increase from the 1,249 units sold in July 2013. The benchmark price for a detached property in Metro Vancouver increased 16.2 percent from July 2014 to $1,141,800.

Sales of apartment properties reached 1,729 in July 2015, an increase of 42.7 percent compared to the 1,212 sales in July 2014, and an increase of 42.9 percent compared to the 1,210 sales in July 2013. The benchmark price of an apartment property increased 5.9 percent from July 2014 to $400,900.

Attached property sales in July 2015 totalled 690, an increase of 30.9 percent compared to the 527 sales in July 2014, and a 41.7 percent increase from the 487 attached properties sold in July 2013. The benchmark price of an attached unit increased 7.8 per cent between July 2014 and 2015 to $511,500.

 

 

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VANCOUVER, B.C. – July 3, 2015 – Last month was the highest selling June, and the second highest overall monthly total, on record for the Real Estate Board of Greater Vancouver (REBGV).

The REBGV reports that residential property sales in Metro Vancouver* reached 4,375 on the Multiple Listing Service® (MLS®) in June 2015. This represents a 28.4 percent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 percent compared to the 4,056 sales in May 2015.

Last month’s sales were 29.1 percent above the 10-year sales average for the month. It’s the fourth straight month with over 4,000 sales, which is a first in the REBGV’s history. The previous highest number of residential home sales was 4,434, recorded in May 2005.

“Demand in our detached home market continues to drive activity across Metro Vancouver,” Darcy McLeod, REBGV president said. “There were more detached home sales in the region last month than we’ve seen during the month of June in more than 10 years.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $694,000. This represents a 10.3 percent increase compared to June 2014.

“Housing market activity comes in cycles; we're in an up cycle right now that looks similar to the mid-2000s,” McLeod said. “It would be easy to point to one factor that's causing this cycle, but the truth is that it's a number of different factors.

"Conditions today are being driven by low interest rates, a declining supply of detached homes, a growing population, a provincial economy that's outperforming the rest of Canada, pent-up demand from previous years and, perhaps most importantly, the fact that we live in a highlydesirable region," McLeod said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,803 in June. This represents an 8.7 percent increase compared to the 5,339 new listings reported in June 2014.

"We’re seeing a steady stream of new listings entering the market, but the overall number of homes for sale is not keeping up with buyer demand," McLeod said.

The total number of properties currently listed for sale on the region’s MLS® is 12,181, a 23.9 percent decline compared to June 2014 and a 1.3 percent decline compared to May 2015. This is the lowest active listing total for June since 2006.

The sales-to-active-listings ratio in June was 35.9 percent. This is the highest that this ratio has been in Metro Vancouver since June 2006. A seller’s market typically occurs when this ratio exceeds 20 percent for a sustained period of time.

“The competition in today’s market means that buyers have less time to make decisions,” McLeod said. “Given this, it’s important to work with your REALTOR® to gain insight into the local market, to get quick access to new MLS® listings, to develop a buying strategy that meets your needs and risk appetite, and to receive other services and protections that come from having professional representation.”

Sales of detached properties in June 2015 reached 1,920, an increase of 31.3 percent from the 1,462 detached sales recorded in June 2014, and a 74.2 percent increase from the 1,102 units sold in June 2013. The benchmark price for a detached property in Metro Vancouver increased 14.8 percent from June 2014 to $1,123,900.

Sales of apartment properties reached 1,774 in June 2015, an increase of 35.6 percent compared to the 1,308 sales in June 2014, and an increase of 66.1 percent compared to the 1,068 sales in June 2013. The benchmark price of an apartment property increased 5.3 percent from June 2014 to $400,200.

Attached property sales in June 2015 totalled 681, an increase of 7.1 percent compared to the 636 sales in June 2014, and a 44.3 percent increase from the 472 attached properties sold in June 2013. The benchmark price of an attached unit increased 7.1 percent between June 2014 and 2015 to $506,900.

 

 

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It continues to be a competitive spring market for Metro Vancouver home buyers. This competition continues to put upward pressure on home prices, particularly in the detached home market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,056 on the Multiple Listing Service® (MLS®) in May 2015. This represents a 23.4 percent increase compared to the 3,286 sales recorded in May 2014, and a decrease of 2.9 percent compared to the 4,179 sales in April 2015.

Last month’s sales were 16.7 percent above the 10-year sales average for the month.

“We continue to see strong competition for homes that are priced right for today’s market,” Darcy McLeod, REBGV president said. “It’s important to remember that real estate is hyper local, particularly in a seller’s market. This means that conditions and prices vary depending on property type, neighbourhood, and other factors."

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,641 in May. This represents a 5 percent decrease compared to the 5,936 new listings reported in May 2014.

The total number of properties currently listed for sale on the region’s MLS® is 12,336, a 23.2 percent decline compared to May 2014 and a 0.8 percent decline compared to April 2015.

“While the supply of homes for sale remains below what’s typical for this time of year, our region continues to offer a diverse selection of housing options at different price points,” McLeod said. “This diversity within the housing stock is part of what’s driving today’s home sale activity.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $684,400. This represents a 9.4 percent increase compared to May 2014.

The sales-to-active-listings ratio in May was 32.9 percent. This is the highest that this ratio has been in Metro Vancouver since June 2007.

Sales of detached properties in May 2015 reached 1,723, an increase of 18.6 percent from the 1,453 detached sales recorded in May 2014, and a 42.2 percent increase from the 1,212 units sold in May 2013. The benchmark price for a detached property in Metro Vancouver increased 14.1 percent from May 2014 to $1,104,900.

Sales of apartment properties reached 1,600 in May 2015, an increase of 24.4 percent compared to the 1,286 sales in May 2014, and an increase of 40.8 percent compared to the 1,136 sales in May 2013. The benchmark price of an apartment property increased 4.6 percent from May 2014 to $396,900.

Attached property sales in May 2015 totalled 733, an increase of 34 percent compared to the 547 sales in May 2014, and a 37.3 percent increase from the 534 attached properties sold in May 2013. The benchmark price of an attached unit increased 6.4 percent between May 2014 and 2015 to $501,000.

 

 

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VANCOUVER, B.C. – May 4, 2015 – Strong home buyer demand coupled with below average home listing activity has created seller's market conditions within the Metro Vancouver* housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) in April 2015. This represents a 37 percent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 percent increase compared to the 4,060 sales in March 2015.

Last month’s sales were 29.3 percent above the 10-year sales average for the month.

“The supply of homes for sale today in the region is not meeting the demand we're seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market," Darcy McLeod, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,897 in April. This represents a 0.9 percent decrease compared to the 5,950 new listings reported in April 2014.

The total number of properties currently listed for sale on the region’s MLS® is 12,436, a 19.8 percent decline compared to April 2014 and an increase of 0.5 percent compared to March 2015.

“It’s a competitive and fast-moving market today that is tilted in favour of home sellers. To be competitive, it’s important to connect with a local REALTOR® who can help you develop a strategy to meet your home buying or selling needs,” McLeod said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $673,000. This represents an 8.5 percent increase compared to April 2014.

The sales-to-active-listings ratio in April was 33.6 percent. This is the highest that this ratio has been in Metro Vancouver since June 2007.

Sales of detached properties in April 2015 reached 1,815, an increase of 35.9 percent from the 1,336 detached sales recorded in April 2014, and a 70.6 percent increase from the 1,064 units sold in April 2013. The benchmark price for a detached property in Metro Vancouver increased 12.5 percent from April 2014 to $1,078,900.

Sales of apartment properties reached 1,579 in April 2015, an increase of 34.7 percent compared to the 1,172 sales in April 2014, and an increase of 50.1 percent compared to the 1,052 sales in April 2013. The benchmark price of an apartment property increased 4.4 percent from April 2014 to $394,200.

Attached property sales in April 2015 totalled 785, an increase of 44.8 percent compared to the 542 sales in April 2014, and a 53.6 percent increase from the 511 attached properties sold in April 2013. The benchmark price of an attached unit increased 5.7 percent between April 2014 and 2015 to $493,300.

 

 

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VANCOUVER, B.C. – April 2, 2015 – Demand continued to rise across Metro Vancouver's housing market in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,060 on the Multiple Listing Service® (MLS®) in March 2015. This represents a 53.7 percent increase compared to the 2,641 sales recorded in March 2014, and a 32.6 percent increase compared to the 3,061 sales in February 2015.

Last month’s sales were 26.8 percent above the 10-year sales average for the month.

"We're seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices,” Darcy McLeod, REBGV president said. “For sellers, this means that it's taking less time, on average, for your home to sell if you have it priced correctly for today's market."

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,968 in March. This represents a 13 percent increase compared to the 5,281 new listings reported in March 2014.

Last month’s new listing count was 4.7 percent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 12,376, a 14.5 percent decline compared to March 2014 and a 4 percent increase compared to February 2015.

“The number of homes for sale today is below what’s typical for this time of year,” McLeod said. “If you’ve been considering putting your property on the market, these market conditions indicate that now may be a good time to list.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $660,700. This represents a 7.2 percent increase compared to March 2014.

The sales-to-active-listings ratio in March was 32.8 percent. This is the highest that this ratio has been in Metro Vancouver since July 2007.

Sales of detached properties in March 2015 reached 1,711, an increase of 53.3 percent from the 1,116 detached sales recorded in March 2014, and an 83.4 percent increase from the 933 units sold in March 2013. The benchmark price for a detached property in Metro Vancouver increased 11.2 percent from March 2014 to $1,052,800.

Sales of apartment properties reached 1,627 in March 2015, an increase of 47.1 percent compared to the 1,106 sales in March 2014, and an increase of 65.7 percent compared to the 982 sales in March 2013. The benchmark price of an apartment property increased 3.3 percent from March 2014 to $390,200.

Attached property sales in March 2015 totalled 722, an increase of 72.3 percent compared to the 419 sales in March 2014, and a 67.1 percent increase from the 432 attached properties sold in March 2013. The benchmark price of an attached unit increased 4.9 percent between March 2014 and 2015 to $484,900.

 

 

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VANCOUVER, B.C. – March 3, 2015 – Conditions within the Metro Vancouver* housing market continued to strengthen in February as home sale and listing totals came in well above the region’s ten-year average for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in February 2015. This represents a 21 percent increase compared to the 2,530 sales recorded in February 2014, and a 60 percent increase compared to the 1,913 sales in January 2015.

Last month’s sales were 20.2 percent above the 10-year sales average for the month.

“It’s an active and competitive marketplace today. Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now,” Ray Harris, REBGV president, said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,425 in February. This represents a 15.4 percent increase compared to the 4,700 new listings reported in February 2014.

Last month’s new listing count was 11.8 percent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 11,898, an 11.3 percent decline compared to February 2014 and a 10.1 percent increase compared to January 2015.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $649,700. This represents a 6.4 percent increase compared to February 2014.

The sales-to-active-listings ratio in February was 25.7 percent. This is the highest that this ratio has been in Metro Vancouver since March 2011.

 



“We’re seeing more multiple offer situations and generally more traffic at open houses today,” Harris said. “In a market such as this, it’s important to do your homework and work with your local REALTOR® before embarking on your home buying and selling journey.”

Sales of detached properties in February 2015 reached 1,296, an increase of 25.6 percent from the 1,032 detached sales recorded in February 2014, and an 84.1 percent increase from the 704 units sold in February 2013. The benchmark price for a detached property in Metro Vancouver increased 9.7 percent from February 2014 to $1,026,300.

Sales of apartment properties reached 1,244 in February 2015, an increase of 20.5 percent compared to the 1,032 sales in February 2014, and an increase of 63.7 percent compared to the760 sales in February 2013. The benchmark price of an apartment property increased 3 percent from February 2014 to $386,500.

Attached property sales in February 2015 totalled 521, an increase of 11.8 percent compared to the 466 sales in February 2014, and a 56.5 percent increase from the 333 attached properties sold in February 2013. The benchmark price of an attached unit increased 4.6 percent between February 2014 and 2015 to $481,500.

 

 

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VANCOUVER, B.C. – February 3, 2015 – The first month of 2015 saw home sale activity above historical norms, while the number of homes listed for sale trended below typical levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,913 on the Multiple Listing Service® (MLS®) in January 2015. This represents an 8.7 percent increase compared to the 1,760 sales recorded in January 2014, and a 9.6 percent decline compared to the 2,116 sales in December 2014.

Last month’s sales were 14.9 percent above the 10-year sales average for the month.

“While demand remains steady, we’re seeing fewer homes for sale at the moment,” Ray Harris, REBGV president, said. "This is creating greater competition amongst buyers, particularly in the detached home market. The number of detached homes listed for sale today is the second lowest we’ve seen in four years.”

New listings for detached, attached and apartment properties in Metro Vancouver1 totalled 4,737 in January. This represents an 11.4 percent decline compared to the 5,345 new listings reported in January 2014.

Last month’s new listing count was 1.2 percent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the REBGV MLS® is 10,811, a 14.2 percent decline compared to January 2014 and a 4.8 percent increase compared to December 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $641,60022. This represents a 5.5 percent increase compared to January 2014.

With the sales-to-active-listings ratio at 17.7 percent, the region remains in balanced market territory.

“The Bank of Canada’s recent announcement to lower its benchmark interest rate is an important one for home buyers, sellers and owners to note,” Harris said. “A reduced rate could allow you to pay down your mortgage a little faster, save some money on your monthly payments, or change the amount you qualify for. It’s important that you do your homework and understand how these announcements impact your situation.”

Sales of detached properties in January 2015 reached 781, an increase of 7.3 percent from the 728 detached sales recorded in January 2014, and a 44.1 percent increase from the 542 units sold in January 2013. The benchmark price for a detached property in Metro Vancouver increased 8.4 percent from January 2014 to $1,010,000.

Sales of apartment properties reached 809 in January 2015, an increase of 7.4 percent compared to the 753 sales in January 2014, and an increase of 40.5 percent compared to the 576 sales in January 2013. The benchmark price of an apartment property increased 2.5 percent from January 2014 to $382,800.

Attached property sales in January 2015 totalled 323, an increase of 15.8 percent compared to the 279 sales in January 2014, and a 38.6 percent increase from the 233 attached properties sold in January 2013. The benchmark price of an attached unit increased 4.3 percent between January 2014 and 2015 to $479,600.

 

 

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VANCOUVER, B.C. – January 5, 2015 –It was a typical year for the Metro Vancouver housing market in certain respects. The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 percent increase from the 28,524 sales recorded in 2013, and a 32.3 percent increase over the 25,032 residential sales in 2012.

The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver increased 2.4 percent in 2014 to 56,066 compared to the 54,742 properties listed in 2013. Looking back further, last year’s total represents a four percent decline compared to the 58,379 residential properties listed for sale in 2012.

“While home buyer and seller activity created balanced market conditions within the region, we also experienced some upward pressure on home prices over the course of the year,” Ray Harris, REBGV president said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 percent increase compared to December 2013.

“Detached homes continue to be the most sought after property type in our market,” Harris, said. “Detached homes in Metro Vancouver have increased 8.1 percent in value over the last 12 months while townhome and condominium properties have increased 4.5 and 3.5 percent over the same period.”

December summary

Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of 8.3 percent from the 1,953 sales recorded in December 2013 and a 15.9 percent decline compared to November 2014 when 2,516 home sales occurred.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888 in December 2014. This represents a 1.7 percent increase compared to the 1,856 units listed in December 2013 and a 37.4 percent decline compared to November 2014 when 3,016 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 10,320, a 10.7 percent decline compared to December 2013 and a 17.8 percent decrease compared to November 2014.

Sales of detached properties in December 2014 reached 833, an increase of 9.3 percent from the 762 detached sales recorded in December 2013. The benchmark price for detached properties increased 8.1 percent from December 2013 to $1,002,200.

Sales of apartment properties reached 912 in December 2014, an increase of 7.3 percent compared to the 850 sales in December 2013.The benchmark price of an apartment property increased 3.5 percent from December 2013 to $380,700.

Attached property sales in December 2014 totalled 371, an increase of 8.8 percent compared to the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 percent between December 2013 and 2014 to $476,800.

 

 

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VANCOUVER, B.C. – December 2, 2014 – Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in November 2014. This represents an 8.4 percent increase compared to the 2,321 sales in November 2013, and a 17.7 percent decline compared to the 3,057 sales in October 2014.

Last month’s sales were 6.9 percent above the 10-year sales average for November.

“It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1 percent decrease compared to the 3,245 new listings in November 2013 and a 32.8 percent decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 percent decline compared to November 2013 and a 9.4 percent decrease compared to October 2014.

“This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace,” Harris said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7 percent increase compared to November 2013.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 percent from the 926 detached sales recorded in November 2013, and a 60.9 percent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 percent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 percent compared to the 969 sales in November 2013, and a 40.3 percent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 percent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 percent increase compared to the 426 sales in November 2013, and a 47.2 percent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 percent between November 2013 and 2014 to $480,200.

 

 

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VANCOUVER, B.C. – November 4, 2014 – Home sales in the Metro Vancouver* housing market continue to outpace long-term averages for this time of year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,057 on the Multiple Listing Service® (MLS®) in October 2014. This represents a 14.9 percent increase compared to the 2,661 sales in October 2013, and a 4.6 percent increase over the 2,922 sales in September 2014.

Last month’s sales were 16.6 percent above the 10-year sales average for October.

“We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight percent depending on the property,” said REBGV president Ray Harris.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,487 in October. This represents a four percent increase compared to the 4,315 new listings in October 2013 and a 14.7 percent decline from the 5,259 new listings in September.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,851, a 9.2 percent decline compared to October 2013 and a 6.6 percent decrease compared to September 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a six percent increase compared to October 2013.

“Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region,” Harris said.

Sales of detached properties in October 2014 reached 1,271, an increase of 19.1 percent from the 1,067 detached sales recorded in October 2013, and a 60.9 percent increase from the 790 units sold in October 2012. The benchmark price for detached properties increased 7.9 percent from October 2013 to $995,100.

Sales of apartment properties reached 1,268 in October 2014, an increase of 15.5 percent compared to the 1,098 sales in October 2013, and a 57.9 percent increase compared to the 803 sales in October 2012. The benchmark price of an apartment property increased four percent from October 2013 to $380,200.

Attached property sales in October 2014 totalled 518, a 4.4 percent increase compared to the 496 sales in October 2013, and an 53.3 percent increase over the 338 attached properties sold in October 2012. The benchmark price of an attached unit increased 4.7 percent between October 2013 and 2014 to $479,500.

 

 

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VANCOUVER, B.C. – October 2, 2014 – Home buyers were active in Metro Vancouver last month, with home sales well exceeding the 10-year average for September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. This represents a 17.7 percent increase compared to the 2,483 sales in September 2013, and a 5.4 percent increase over the 2,771 sales in August 2014.

Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September over that period.

“September was an active period for our housing market when we compare it against typical activity for the month,” Ray Harris, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 5,259 in September. This represents a 4.6 percent increase compared to the 5,030 new listings in September 2013 and a 33.5 percent increase from the 3,940 new listings in August. Last month’s new listing total was 0.4 percent above the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,832, an 8 per cent decline compared to September 2013 and a 0.4 percent increase compared to August 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $633,500. This represents a 5.3 percent increase compared to September 2013.

“Gains in home values are being led by the detached home market. Condominium and townhome properties are not experiencing the same pressure on prices at the moment,” Harris said. “Individual trends can vary depending on different factors in different areas, so it’s important to do your homework and work with your REALTOR® when you’re looking to determine the market value of a home.”

Sales of detached properties in September 2014 reached 1,270, an increase of 24.1 percent from the 1,023 detached sales recorded in September 2013, and a 113.8 percent increase from the 594 units sold in September 2012. The benchmark price for detached properties increased 7.3 percent from September 2013 to $990,300.

Sales of apartment properties reached 1,188 in September 2014, an increase of 16.7 percent compared to the 1,018 sales in September 2013, and a 75.7 percent increase compared to the 676 sales in September 2012. The benchmark price of an apartment property increased 3.3 percent from September 2013 to $378,700.

Attached property sales in September 2014 totalled 464, a 5 percent increase compared to the 442 sales in September 2013, and an 88.6 percent increase over the 246 attached properties sold in September 2012. The benchmark price of an attached unit increased 4.2 percent between September 2013 and 2014 to $477,700.

 

 

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VANCOUVER, B.C. – September 3, 2014 – The Metro Vancouver housing market experienced steady home sale, listing, and pricing trends for the month of August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in August 2014. This represents a 10.2 percent increase compared to the 2,514 sales recorded in August 2013, and a 9.5 percent decline compared to the 3,061 sales in July2014.

“Activity this summer has been strong but not unusual for our region,” Ray Harris, REBGV president said. “The volume of home sales has been higher than we’ve seen in the last three years, yet below the record-breaking levels of the past decade.”

Last month’s sales were 4.3 percent above the 10-year sales average for August of 2,658.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $631,600. This represents a 5 percent increase compared to August 2013.

“Broadly speaking, home prices in the region are continuing to experience modest, incremental gains,” Harris said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,940 in August. This represents a 5.9 percent decline compared to the 4,186 new listings in August 2013 and a 20 percent decline from the 4,925 new listings in July. Last month’s new listing total was 8.4 percent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,768, a 7.9 percent decline compared to August 2013 and a 5.4 percent decrease compared to July 2014.

Sales of detached properties in August 2014 reached 1,158, an increase of 10.1 percent from the 1,052 detached sales recorded in August 2013, and an 85.6 percent increase from the 624 units sold in August 2012. The benchmark price for detached properties increased 6.6 percent from August 2013 to $984,300.

Sales of apartment properties reached 1,126 in August 2014, an increase of 10.6 percent compared to the 1,018 sales in August 2013, and a 55.3 percent increase compared to the 725 sales in August 2012. The benchmark price of an apartment property increased 3.6 percent from August 2013 to $379,200.

Attached property sales in August 2014 totalled 487, a 9.7 percent increase compared to the 444 sales in August 2013, and a 62.3 percent increase over the 300 attached properties sold in August 2012. The benchmark price of an attached unit increased 3.9 percent between August 2013 and 2014 to $474,900.

 

 

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VANCOUVER, B.C. – August 5, 2014 – The Greater Vancouver housing market continues to see slightly elevated demand from home buyers, steady levels of supply from home sellers and incremental gains in home values depending on the area and property type.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in July 2014. This represents a 3.9 percent increase compared to the 2,946 sales recorded in July 2013, and a 10.1 percent decline compared to the 3,406 sales in June 2014.

“This is the fourth consecutive month that the Greater Vancouver market has exceeded 3,000 sales,” Darcy McLeod, REBGV president-elect said. “Prior to this, our market had not surpassed the 3,000 sale mark since June of 2011.”

Last month’s sales were 3.8 percent above the 10-year sales average for July of 2,948. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $628,600. This represents a 4.4 percent increase compared to July 2013.

“Today’s activity continues to put Metro Vancouver in the upper reaches of a balanced real estate market,” McLeod said.

The sales-to-active-listings ratio currently sits at 19.6 percent in Metro Vancouver. This ratio has ranged between 18 and 20 percent over the last four months.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,925 in July. This represents a 1.5 percent increase compared to the 4,854 new listings in July 2013 and a 7.8 percent decline from the 5,339 new listings in June.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 15,617, a six percent decline compared to July 2013 and a 2.5 percent decrease compared to June 2014.

Sales of detached properties in July 2014 reached 1,322, an increase of 5.8 percent from the 1,249 detached sales recorded in July 2013, and a 68 percent increase from the 787 units sold in July 2012. The benchmark price for detached properties increased 6.5 percent from July 2013 to $980,500.

Sales of apartment properties reached 1,212 in July 2014, an increase of 0.2 percent compared to the 1,210 sales in July 2013, and a 30.7 percent increase compared to the 927 sales in July 2012. The benchmark price of an apartment property increased 2.2 percent from July 2013 to $376,500.

Attached property sales in July 2014 totalled 527, an 8.2 percent increase compared to the 487 sales in July 2013, and a 37.2 percent increase over the 384 attached properties sold in July 2012. The benchmark price of an attached unit increased 3.4 percent between July 2013 and 2014 to $472,400.

 

 

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VANCOUVER, B.C. – July 3, 2014 – The Greater Vancouver housing market enters the summer season with home buyer activity on the rise.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This represents a 28.9 percent increase compared to the 2,642 sales recorded in June 2013, and a 3.7 percent increase compared to the 3,286 sales in May 2014.

Last month’s sales were 0.6 percent above the 10-year sales average for June of 3,386.

“Competition amongst home buyers today is as strong as it’s been in the region since 2011,” Ray Harris, REBGV president said.

The sales-to-active-listings ratio currently sits at 21.3 percent in Greater Vancouver, which is the highest this measure has been since June 2011.

“Over the last three years, we’ve seen changes in demand yet home prices at the regional level have remained relative stability,” Harris said. “While these numbers provide high level trends, it’s important to know that changes in prices always vary depending on neighbourhood and property type. Consult your local REALTOR® for information on trends in your area of choice.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $628,200. This represents a 4.4 percent increase compared to June 2013.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,339 in June. This represents a 9.5 percent increase compared to the 4,874 new listings in June 2013 and a 10.1 percent decline from the 5,936 new listings in May. Last month’s new listing count was 2.6 percent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 16,011, a 7.4 percent decline compared to June 2013 and a 0.4 percent decrease compared to May 2014.

Sales of detached properties in June 2014 reached 1,462, an increase of 32.7 percent from the 1,102 detached sales recorded in June 2013, and a 58.7 percent increase from the 921 units sold in June 2012. The benchmark price for detached properties increased 6.2 percent from June 2013 to $976,700.

Sales of apartment properties reached 1,308 in June 2014, an increase of 22.5 percent compared to the 1,068 sales in June 2013, and a 27.5 percent increase compared to the 1,026 sales in June 2012. The benchmark price of an apartment property increased 2.4 percent from June 2013 to $378,000.

Attached property sales in June 2014 totalled 636, a 34.7 percent increase compared to the 472 sales in June 2013, and a 53.3 percent increase over the 415 attached properties sold in June 2012. The benchmark price of an attached unit increased 3.1 percent between June 2013 and 2014 to $471,200.

 

 

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