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This chart shows the annual variances for attached properties in the various of the Vancouver real estate market. It includes Vancouver condos, townhomes, and Vancouver 1/2 duplexes. The price change ranges from minus 49% in North Delta to a high of +30% for downtown Vancouver attached properties and +34% in Tsawwassen.

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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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Are you wondering about price trends in other areas of Vancouver real estate? Maybe you're thinking of moving to a condo in Lower Lonsdale or a house in Grandview/Commercial Drive, or you're just curious. I'm happy to send you my 5 Year Price Trend Report for all areas of Vancouver real estate - no obligation of course!

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VANCOUVER, B.C. – July 3, 2014 – The Greater Vancouver housing market enters the summer season with home buyer activity on the rise.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,406 on the Multiple Listing Service® (MLS®) in June 2014. This represents a 28.9 percent increase compared to the 2,642 sales recorded in June 2013, and a 3.7 percent increase compared to the 3,286 sales in May 2014.

Last month’s sales were 0.6 percent above the 10-year sales average for June of 3,386.

“Competition amongst home buyers today is as strong as it’s been in the region since 2011,” Ray Harris, REBGV president said.

The sales-to-active-listings ratio currently sits at 21.3 percent in Greater Vancouver, which is the highest this measure has been since June 2011.

“Over the last three years, we’ve seen changes in demand yet home prices at the regional level have remained relative stability,” Harris said. “While these numbers provide high level trends, it’s important to know that changes in prices always vary depending on neighbourhood and property type. Consult your local REALTOR® for information on trends in your area of choice.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $628,200. This represents a 4.4 percent increase compared to June 2013.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,339 in June. This represents a 9.5 percent increase compared to the 4,874 new listings in June 2013 and a 10.1 percent decline from the 5,936 new listings in May. Last month’s new listing count was 2.6 percent below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 16,011, a 7.4 percent decline compared to June 2013 and a 0.4 percent decrease compared to May 2014.

Sales of detached properties in June 2014 reached 1,462, an increase of 32.7 percent from the 1,102 detached sales recorded in June 2013, and a 58.7 percent increase from the 921 units sold in June 2012. The benchmark price for detached properties increased 6.2 percent from June 2013 to $976,700.

Sales of apartment properties reached 1,308 in June 2014, an increase of 22.5 percent compared to the 1,068 sales in June 2013, and a 27.5 percent increase compared to the 1,026 sales in June 2012. The benchmark price of an apartment property increased 2.4 percent from June 2013 to $378,000.

Attached property sales in June 2014 totalled 636, a 34.7 percent increase compared to the 472 sales in June 2013, and a 53.3 percent increase over the 415 attached properties sold in June 2012. The benchmark price of an attached unit increased 3.1 percent between June 2013 and 2014 to $471,200.

 

 

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VANCOUVER, B.C. – May 2, 2014 – Home buyers and sellers became more active in the housing market in April.  The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,050 on MLS® in April 2014. This represents a 16.1 percent increase compared to the 2,627 sales recorded in April 2013, and a 15.5 percent increase compared to the 2,641 sales in March 2014.

Last month’s sales were 5.2 percent below the 10-year sales average for April of 3,217.

The sales-to-active-listings ratio currently sits at 19.7 percent in Greater Vancouver, which is the highest this measure has been since June 2011.

“We saw steady increases in home seller and buyer activity in April, which is typically the case in the spring months,” Ray Harris, REBGV president said. “People often look to buy or sell their home this time of year as the school year draws to a close and the summer holiday season is still a few months away,” Harris said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,950 in April. This represents a 1.3 percent increase compared to the 5,876 new listings in April 2013 and a 12.7 percent increase from the 5,281 new listings in March. Last month’s new listing count was 1.2 percent higher than the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the MLS® system in Greater Vancouver is 15,515, a 7.3 percent decline compared to April 2013 and a 7.2 percent increase compared to March 2014.

“Home prices in the region continue to show steady, yet modest, increases when compared to last year,” Harris said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $619,000. This represents a 3.6 percent increase compared to April 2013.

Sales of detached properties in April 2014 reached 1,336, an increase of 25.6 percent from the 1,064 detached sales recorded in April 2013, and an 18.7 percent increase from the 1,126 units sold in April 2012. The benchmark price for detached properties increased 4.7 percent from April 2013 to $956,700

Sales of apartment properties reached 1,172 in April 2014, an increase of 11.4 percent compared to the 1,052 sales in April 2013, and a 1.5 percent decline compared to the 1,190 sales in April 2012. The benchmark price of an apartment property increased 2.6 percent from April 2013 to $375,500.

Attached property sales in April 2014 totalled 542, a 6.1 percent increase compared to the 511 sales in April 2013, and a 12.2 percent increase over the 483 attached properties sold in April 2012. The benchmark price of an attached unit increased two per cent between April 2013 and 2014 to $464,400.

 

 

 

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Happy New Year!

Vancouver real estate in 2013 is best described as a 'balanced market' - in other words, a healthy market not favouring buyers or sellers. We had several years of a market favouring sellers (competing offers were pretty much the norm not the exception!) then it shifted a bit toward buyers and has now settled into a balanced position. For complete details and statistics on number of sales and Vancouver real estate price changes please go to my 'resources' tab and drop down menu: Market Report.

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