Below is the February 2013 Greater Vancouver market update from the Greater Vancouver Real Estate Board. Real estate market activity can vary significantly between communities, neighbourhoods and property types; therefore, if you are in the market to buy a home, sell a home, or simply want a market update for your specific neighbourhood and property type, then definitely call me or email me. It will be my pleasure to handle your real estate needs.
Home Sales Continue at below average pace
Home sale activity has trended below historical
averages for a full year in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reportsthat residential property sales in
Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013.
This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012,
and a 33 per cent increase compared to the 1,351 sales in January 2012.
Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per
cent below the 10-year sales average for the month.
“Sales in February followed recent trends and were below seasonal averages, though our
members tell us they saw more traffic at open houseslast month compared to the previous six to
eight months, said Eugen Klein, REBGV president.
The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per
cent increase from last month. This is the first time this ratio has been above 11 per cent since
“With a two-point increase in our sales to active listings ratio and a reduction in the average
number of days it’s taking to sell a home, February showed some subtle indications of a
changing sentiment in the marketplace compared to recent months,” Klein said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,833
in February. This represents a 13 per cent decline compared to the 5,552 new listings reported in
February 2012 and a 5.8 per cent decline from the 5,128 new listings in January. Last month’s
new listing count was 4 per cent higher than the region’s 10-year new listing average for the
The total number of properties currently listed for sale on the Greater Vancouver MLS® is
14,789, a 5.2 per cent increase compared to February 2012 and an 11.6 per cent increase
compared to January 2013.