Categories
 

Housing market activity follows 10-year August averages


VANCOUVER, B.C. – September 3, 2014 – The Metro Vancouver housing market
experienced steady home sale, listing, and pricing trends for the month of August.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property
sales in Greater Vancouver reached 2,771 on the Multiple Listing Service® (MLS®) in
August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales
recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July
2014.


“Activity this summer has been strong but not unusual for our region,” Ray Harris, REBGV
president said. “The volume of home sales has been higher than we’ve seen in the last three
years, yet below the record-breaking levels of the past decade.”


Last month’s sales were 4.3 per cent above the 10-year sales average for August of 2,658.
The MLS® Home Price Index composite benchmark price for all residential properties in
Metro Vancouver* is currently $631,600. This represents a 5 per cent increase compared to
August 2013.


“Broadly speaking, home prices in the region are continuing to experience modest,
incremental gains,” Harris said.


New listings for detached, attached and apartment properties in Metro Vancouver totalled
3,940 in August. This represents a 5.9 per cent decline compared to the 4,186 new listings
in August 2013 and a 20 per cent decline from the 4,925 new listings in July. Last month’s
new listing total was 8.4 per cent 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 Metro
Vancouver is 14,768, a 7.9 per cent decline compared to August 2013 and a 5.4 per cent
decrease compared to July 2014.


Sales of detached properties in August 2014 reached 1,158, an increase of 10.1 per cent
from the 1,052 detached sales recorded in August 2013, and an 85.6 per cent increase from
the 624 units sold in August 2012. The benchmark price for detached properties increased
6.6 per cent from August 2013 to $984,300.


Sales of apartment properties reached 1,126 in August 2014, an increase of 10.6 per cent
compared to the 1,018 sales in August 2013, and a 55.3 per cent increase compared to the
725 sales in August 2012. The benchmark price of an apartment property increased 3.6 per
cent from August 2013 to $379,200.


Attached property sales in August 2014 totalled 487, a 9.7 per cent increase compared to
the 444 sales in August 2013, and a 62.3 per cent increase over the 300 attached properties
sold in August 2012. The benchmark price of an attached unit increased 3.9 per cent
between August 2013 and 2014 to $474,900.


-30-
* Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West
Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richm

Post CommentComments: 0Read Full Story
Categories: 1/2 duplex | 1155 Homer | 1829 W. 13th | 2015 | 2016 Real Estate | 3 bedroom | 550 Beatty | 999 Seymour | Agency | Airbnb | Alexander | Anmore, Port Moody Real Estate | Assessment | August 2014 | bachelor | Bolivar Heights, North Surrey Real Estate | Bosa | Brentwood Park, Burnaby North Real Estate | Burke Mountain, Coquitlam Real Estate | Burnaby | Buyer agent | Cambie, Vancouver West Real Estate | Central Lonsdale, North Vancouver Real Estate | Champlain Heights, Vancouver East Real Estate | cmhc | Collingwood VE, Vancouver East Real Estate | December Stats | Downtown NW, New Westminster Real Estate | Downtown SQ, Squamish Real Estate | Downtown VE, Vancouver East Real Estate | Downtown VW, Vancouver East Real Estate | Downtown VW, Vancouver West Real Estate | East Newton, Surrey Real Estate | east vancouver | Fairview VW, Vancouver West Real Estate | False Creek | False Creek, Vancouver West Real Estate | First Time Buyers | Flip | Fraser VE, Vancouver East Real Estate | Fraserview VE, Vancouver East Real Estate | Gastown | Grandview VE, Vancouver East Real Estate | Guildford, North Surrey Real Estate | Hamilton, North Vancouver Real Estate | Hastings, Vancouver East Real Estate | Highgate, Burnaby South Real Estate | Home of the Week | Home Value | Housing Newsletter | invest | Investment | Investor | Jervis | July New Construction Stats | Killarney VE, Vancouver East Real Estate | Kitsilano, Vancouver West Real Estate | Knight, Vancouver East Real Estate | Koret | Langford, Victoria Real Estate | Langley City, Langley Real Estate | legal suite | Loft | Lower Lonsdale, North Vancouver Real Estate | Luxury | Main, Vancouver East Real Estate | Market Update | May Stats | metropolis | Modern | Mortgage | mortgage helper | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Non conforming strata | North Vancouver Real Estate | November | November 2014 Market Update | October Stats | Olympic Village | Open House | Point Grey, Vancouver West Real Estate | Port Coquitlam Real Estate | Port Moody Centre, Port Moody Real Estate | price | Property Tax | Proximity | Quilchena, Vancouver West Real Estate | Renfrew Heights, Vancouver East Real Estate | Renfrew VE, Vancouver East Real Estate | rental | Sapperton, New Westminster Real Estate | Scottsdale, N. Delta Real Estate | September Stats | Short term rentals | Simon Fraser Univer., Burnaby North Real Estate | SOLO DISTRICT | South Granville, Vancouver West Real Estate | Stats | studio | Sullivan Station, Surrey Real Estate | The Heights NW, New Westminster Real Estate | The Spot | Townhouse | Townline | University VW, Vancouver West Real Estate | Uptown NW, New Westminster Real Estate | Vancouver | Vancouver Real Estate | Vancouver Zoning | Victoria VE, Vancouver East Real Estate | VRBO | West End | West End VW, Vancouver West Real Estate | Westend | Whistler | Willingdon Heights, Burnaby North Real Estate | Willoughby Heights, Langley Real Estate | Wohlsein | Yaletown | Yaletown, Vancouver West Real Estate