Below is the September 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.

~ James

 

Sale and listing activity continues to follow historical averages

Home buyer and seller activity in the Greater Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013. This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012, and a 1.2 per cent decline compared to the 2,514 sales in August 2013.

Last month’s sales were 1 per cent below the 10-year sales average for the month, while new listings for the month were 3.5 per cent below the 10-year average.

“While sales are up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades,” Sandra Wyant, REBGV said. “Home sale and listing activity this September were in line with the 10-year average for the month.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,030 in September. This represents a 5.5 per cent decline compared to the 5,321 new listings reported in September 2012 and a 20.2 per cent increase compared to the 4,186 new listings in August of this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,115, a 12.2 per cent decrease compared to September 2012 and a 0.5 per cent increase compared to August 2013.

The sales-to-active-listings ratio currently sits at 15.4 per cent in Greater Vancouver.

“It’s important to remember that stronger sales activity does not necessarily equate to rising home prices. In fact, home prices have not fluctuated much in our market this year,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 0.7 per cent compared to this time last year and an increase of 2.3 per cent compared to January 2013.

Sales of detached properties reached 1,023 in September 2013, an increase of 72.2 per cent from the 594 detached sales recorded in September 2012, and a 6.9 per cent increase from the 957 units sold in September 2011. The benchmark price for detached properties decreased 1.4 per cent from September 2012 to $922,600.

Sales of apartment properties reached 1,018 in September 2013, an increase of 50.6 per cent compared to the 676 sales in September 2012, and an increase of 10.4 per cent compared to the 922 sales in September 2011. The benchmark price of an apartment property decreased 0.5 per cent from September 2012 to $366,600

Attached property sales in September 2013 totalled 442, an increase of 79.7 per cent compared to the 246 sales in September 2012, and a 20.4 per cent increase from the 367 attached properties sold in September 2011. The benchmark price of an attached unit is currently $458,300, which is unchanged from September 2012.

 

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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.

~ James

 

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
June 2012.
“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
month.
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.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.