Enter your email address:

Delivered by FeedBurner

 
I have sold a property at 502 587 7 AVE W in Vancouver.
Rarely available one-bedroom & den suite in the sought after boutique concrete building - the Affiniti. This unit features a...
Read Full Story

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 per cent increase compared to the 2,922 sales recorded in September 2014, and a 0.5 per cent decrease compared to the 3,362 sales in August 2015.


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

“Residential home sales have been trending at 25 to 30 per cent 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 per cent 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 per cent decline compared to September 2014 and a 0.8 per cent 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 per cent 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 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, 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 per cent from the 1,270 detached sales recorded in September 2014, and a 24.3 per cent increase from the 1,023 units sold in September 2014. The benchmark price for a detached property in Metro Vancouver increased 18.9 per cent from September 2014 to $1,179,700.

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

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

*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.

Click here to download the complete stats package.

...
Post CommentComments: 0Read 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