I have decided this month to juxtapose a select portion of the Greater Vancouver results with those of the North Shore. Many colleagues of mine send their clients only this ‘REBGV Stats Package’ with the comments of the Board president. I believe that the aggregation of all the REBGV divisions can lead to assumptions being made that don’t necessarily represent a specific division (e.g. our N/Shore). See how they compare (or not). I am often asked how we differ from others suburbs, so hope this is of interest.
TITLE : 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% increase compared to the 2,642 sales recorded in June 2013, and a 3.7% increase compared to the 3,286 sales in May 2014.
Last month’s sales were 0.6% above the 10-year sales average for June of 3,386. “Competition amongst home buyers today is as strong as it’s been here since 2011,” Ray Harris, REBGV president said. The sales/active-listings ratio now sits at 21.3% in Greater Vancouver, 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 stable” Harris said. “These numbers provide high level trends, but it’s important to know that changes in prices vary depending on location and property type. Consult a local REALTOR® for information on trends in your area”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,339 in June. This represents a 9.5% increase compared to the 4,874 new listings in June 2013 and a 10.1% decline from the 5,936 new listings in May. Last month’s new listing count was 2.6% 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% decline compared to June 2013 and a 0.4 % decrease compared to May 2014. Sales of detached properties in June 2014 reached 1,462, an increase of 32.7% from the 1,102 detached sales recorded in June 2013, and a 58.7% increase from the 921 units sold in June 2012.
Sales of apartment properties reached 1,308 in June 2014, up 22.5% compared to the 1,068 sales in June 2013, and a 27.5% increase compared to the 1,026 sales in June 2012.
Attached property sales in June 2014 totalled 636, a 34.7% increase compared to the 472 sales in June 2013, and a 53.3% increase over the 415 attached properties sold in June 2012 ….. end of REBGV stats.