Metro Vancouver home buyers compete for fewer home listings

October 2, 2015

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.

Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace

The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 4,268 in May 2021, a 187.4 per cent increase from the 1,485 sales recorded in May 2020, and a 13 per cent decrease from the 4,908 homes sold in April 2021.

Last month’s sales were 27.7 per cent above the 10-year May sales average.

Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace

The Metro Vancouver* housing market saw steady home sale and listing activity in May, a shift back from the record-breaking activity seen in the earlier spring months.

Last month’s sales were 27.7 per cent above the 10-year May sales average.

March home sales and new listings set records in Metro Vancouver

Home buyer and seller activity reached unprecedented levels across Metro Vancouver* in March.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 5,708 in March 2021, a 126.1 per cent increase from the 2,524 sales recorded in March 2020, and a 53.2 per cent increase from the 3,727 homes sold in February 2021.

Last month’s sales were 72.2 per cent above the 10-year March sales average and is the highest monthly sales total ever recorded in the region.

March home sales and new listings set records in Metro Vancouver

Home buyer and seller activity reached unprecedented levels across Metro Vancouver* in March.

Last month’s sales were 72.2 per cent above the 10-year March sales average and is the highest monthly sales total ever recorded in the region.

Home buyer demand remains elevated across Metro Vancouver

In the first month of 2021, Metro Vancouver’s* housing market continued the pattern set at the end of last year with home sale activity outpacing the supply of homes listed for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,389 in January 2021, a 52.1 per cent increase from the 1,571 sales recorded in January 2020, and a 22.8 per cent decrease from the 3,093 homes sold in December 2020.

Last month’s sales were 36.4 per cent above the 10-year January sales average.

Metro Vancouver housing market shows resilience in 2020

Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 30,944 in 2020, a 22.1 per cent increase from the 25,351 sales recorded in 2019, and a 25.7 per cent increase from the 24,619 homes sold in 2018.

Last year’s sales total was 2.8 per cent below the 10-year sales average.

Metro Vancouver housing market shows resilience in 2020

Strong December activity brought Metro Vancouver’s* 2020 home sales total in line with the region’s long-term annual average.

Last year’s sales total was 2.8 per cent below the 10-year sales average.

Home sale and listing resurgence extends into the fall

Home sale and new listing activity remained at near record levels across Metro Vancouver* in October.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,687 in October 2020, a 29 per cent increase from the 2,858 sales recorded in October 2019, and a 1.2 per cent increase from the 3,643 homes sold in September 2020.

Last month’s sales were 34.7 per cent above the 10-year October sales average and stands as the second-highest total on record for the month.

Home sale and listing resurgence extends into the fall

Home sale and new listing activity remained at near record levels across Metro Vancouver* in October.

Last month’s sales were 34.7 per cent above the 10-year October sales average and stands as the second-highest total on record for the month.

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Metro Vancouver home buyers compete for fewer home listings

Conditions continue to favour home sellers across *Metro Vancouver’s housing market.

Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace

Home sale and listing activity in Metro Vancouver moves off of its record-breaking pace

March home sales and new listings set records in Metro Vancouver

March home sales and new listings set records in Metro Vancouver

Home buyer demand remains elevated across Metro Vancouver

Metro Vancouver housing market shows resilience in 2020

Metro Vancouver housing market shows resilience in 2020

Home sale and listing resurgence extends into the fall

Home sale and listing resurgence extends into the fall

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