Fall Market Recap

(December 15, 2013)

  • Residential property sales in Greater Vancouver have reached a 37.7% increase compared to sales recorded in November 2012, and a 12.8% decrease compared to sales in October 2013.
  • Last month’s sales were 1.2% below the 10-year sales average for the month, while new listings were 1.5% above the 10-year average for November.
  • There has been steady and consistent trends in the Greater Vancouver housing market for much of this year. This year’s activity has resulted in gradual and modest increases in home prices of approximately 1% over the last 12 months in the region.
  • New listings for detached, attached and apartment properties in Greater Vancouver represent a 17.7% increase compared to new listings reported in November 2012 and a 24.8% decrease compared to new listings in this last October.
  • The total number of properties currently listed for sale on the MLS® in Greater Vancouver has decreased by 10.9% compared to November 2012 and another 8.3% decrease compared to October 2013.
  • The sales-to-active-listings ratio currently sits at 16.6% in Greater Vancouver.
  • The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $603,000. This represents a 1% increase compared to November 2012.
  • Sales of detached properties in November 2013 increased 47.2% from sales recorded in November 2012, and a 1.1% increase from sold units in November 2011. The benchmark price for detached properties increased by 1.1% from November 2012 to $924,800.
  • Sales of apartment properties in November 2013 increase 29.2% compared to sales in November 2012, and a decrease of 3.1% has been recorded compared to sales in November 2011. The benchmark price of an apartment property increased 0.8% from November 2012 to $367,800.
  • Attached property sales in November 2013 increased by 38.8% compared to sales in November 2012, and a 4.1% decrease compared to attached properties sold in November 2011. The benchmark price of an attached unit is currently $458,000, which is a 0.8% increase from November 2012.