Enter your email address:

Delivered by FeedBurner

 
I have listed a new property at 101 3278 HEATHER ST in Vancouver.
Perfect Pied-a-terre! Lives like a townhouse with your own pirvate entrance. Charming 2 Bedroom and Den garden apartment...
Read Full Story
Please visit our Open House at 101 3278 HEATHER ST in Vancouver.
Open House on Sunday, August 2, 2015 2:00 pm - 4:00 pm
Perfect Pied-a-terre! Lives like a townhouse with your own pirvate...
Read Full Story

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 per cent increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9 per cent compared to the 4,056 sales in May 2015.

 

Last month’s sales were 29.1 per cent 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 per cent 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 highly desirable region," McLeod said. 

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,803 in June. This represents an 8.7 per cent 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 per cent decline compared to June 2014 and a 1.3 per cent 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 per cent. 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 per cent 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 per cent from the 1,462 detached sales recorded in June 2014, and a 74.2 per cent increase from the 1,102 units sold in June 2013. The benchmark price for a detached property in Metro Vancouver increased 14.8 per cent from June 2014 to $1,123,900.

 

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

 

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

 

*Editor’s Note:  Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.


Download the complete stats package by clicking here. 

...
Post CommentComments: 0Read Full Story
I have sold a property at 306 988 RICHARDS ST in Vancouver.
Completely renovated with 2 bdrms, 2 baths, solarium and flex space in sought-after Tribeca Lofts. This property exudes elegance...
Read Full Story
Categories: Brookswood Langley, Langley Real Estate | Burke Mountain, Coquitlam Real Estate | CA Cambie, VW Vancouver West | Cambie, Vancouver West Real Estate | Central BN, Burnaby North | Central Lonsdale, North Vancouver Real Estate | Central Meadows, Pitt Meadows | Central Meadows, Pitt Meadows Real Estate | Clayton, Cloverdale Real Estate | Cloverdale BC, Cloverdale | Cloverdale BC, Cloverdale Real Estate | Coal Harbour, Vancouver West Real Estate | Collingwood VE, Vancouver East | Collingwood VE, Vancouver East Real Estate | Coquitlam West, Coquitlam | Coquitlam West, Coquitlam Real Estate | Downtown NW, New Westminster | Downtown VE, Vancouver East | Downtown VE, Vancouver East Real Estate | Downtown VE, Vancouver West Real Estate | Downtown VW | Downtown VW, Vancouver West | Downtown VW, Vancouver West Real Estate | DT Downtown, VW Vancouver West | East Newton, Surrey Real Estate | ED Edmonds, BU Burnaby | FA Fairview, VW Vancouver West | Facebook | Fairview - Hospital Area, Vancouver West | Fairview VW, Vancouver West Real Estate | False Creek North, Vancouver West | False Creek North, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Fleetwood Tynehead, Surrey Real Estate | Forest Glen BS, Burnaby South | Fraser VE, Vancouver East Real Estate | Fraserview NW, New Westminster | Fraserview NW, New Westminster Real Estate | Fraserview VE, Vancouver East | Fraserview VE, Vancouver East Real Estate | FV Fraserview, VE Vancouver East | GlenBrooke North, New Westminster | Grandview Surrey, South Surrey White Rock Real Estate | Grandview VE, Vancouver East Real Estate | Guildford, North Surrey | Guildford, North Surrey Real Estate | Hastings, Vancouver East Real Estate | HST Tax | iPhone | Kitsilano, Vancouver West | Kitsilano, Vancouver West Real Estate | Lower Lonsdale, North Vancouver Real Estate | Main, Vancouver East | Main, Vancouver East Real Estate | Maple Ridge | market trends | Marpole, Vancouver West Real Estate | Middlegate BS, Burnaby South | Morgan Creek, South Surrey White Rock Real Estate | Mount Pleasant VE, Vancouver East | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West | Mount Pleasant VW, Vancouver West Real Estate | My Real Page | New Horizons, Coquitlam Real Estate | North Shore Pt Moody, Port Moody Real Estate | Pemberton NV, North Vancouver Real Estate | Point Grey, Vancouver West | Point Grey, Vancouver West Real Estate | Port Moody | Port Moody Centre, Port Moody | Port Moody Centre, Port Moody Real Estate | Quay, New Westminster Real Estate | Queens Park, New Westminster | Queensborough, New Westminster | Real Estate Tax | Shaughnessy, Vancouver West Real Estate | Social Networking | Steveston South, Richmond Real Estate | Steveston Village, Richmond | Sullivan Station, Surrey | The Heights NW, New Westminster Real Estate | Twitter | Uptown NW, New Westminster | Uptown NW, New Westminster Real Estate | vancouver | Vancouver Real Estate | vancouver stats | Vancouver West | Vancouver West Real Estate | Victoria VE, Vancouver East Real Estate | West End VW, Vancouver West Real Estate | Westwood Plateau, Coquitlam | Westwood Plateau, Coquitlam Real Estate | White Rock, South Surrey White Rock | White Rock, White Rock & District | Willoughby Heights, Langley Real Estate | Yaletown, Vancouver West Real Estate | You Tube
Mobile Web App