VANCOUVER, B.C. – November 3, 2015 – 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. – 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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