RSS

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the September 2017 statistics.

 
 
 
 
 
 
 
 
 
 
 
“Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.  
Read

Active listings VS sales for all neighbourhoods in Metro Vancouver, includes condos, townhouse and detached houses. Please see link below:

Metro-Vancouver Report September


VANCOUVER, BC – October 3, 2017 – Apartment and townhome activity is outpacing the detached home market across Metro Vancouver*. This activity helped push total residential sales above the historical average in September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043 homes sold. Last month’s sales were 13.1 per cent above the 10-year September sales average. “Our detached homes market is balanced today, while apartment and townhome sales remain in sellers’ market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the market, as either a buyer or seller, it’s important to understand these trends and use this information to set realistic expectations.” There were 5,375 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12 per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent increase compared to August 2017 when 4,245 homes were listed. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase compared to August 2017 (8,807). “Detached homes made up 30 per cent of all sales in September and represented 62 per cent of all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of upward pressure that we’ve seen on detached home prices in our market over the last few years.” For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and 60.4 per cent for apartments. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.   The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016 and a 0.7 per cent increase compared to August 2017. Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272), and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1 per cent increase compared to August 2017. Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase from September 2016 and a 1.4 per cent increase compared to August 2017. Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent increase compared to August 2017.



Read
Categories:   #listing | #MaketherightMovewithAnnaLitvak #bcprimerealestategroup #liveincoquitlambc | Agassiz Real Estate | Agassiz, Agassiz Real Estate | Belcarra, Port Moody Real Estate | Brentwood Park, Burnaby North Real Estate | Brighouse South, Richmond Real Estate | Brighouse, Richmond Real Estate | Burke Mountain, Coquitlam Real Estate | burnaby | Burnaby North Real Estate | Canyon Springs, COQ Real Estate | Canyon Springs, Coquitlam Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | Clayton, Cloverdale Real Estate | College Park PM, Port Moody Real Estate | Collingwood VE, Vancouver East Real Estate | Coquitlam East, Coquitlam Real Estate | Coquitlam West, Coquitlam Real Estate | Cottonwood MR, Maple Ridge Real Estate | covid | Downtown NW, New Westminster Real Estate | Downtown VW, Vancouver West Real Estate | Eagle Ridge CQ, Coquitlam Real Estate | East Central, Maple Ridge Real Estate | Edmonds BE, Burnaby East Real Estate | Fairview VW, Vancouver East Real Estate | Fairview VW, Vancouver West Real Estate | fleetwood, Surrey Real Estate | Fraserview NW, New Westminster Real Estate | GlenBrooke North, New Westminster Real Estate | Government Road, Burnaby North Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Guildford, North Surrey Real Estate | Hamilton RI, Richmond Real Estate | Hastings, Vancouver East Real Estate | Heritage Mountain, Port Moody Real Estate | Heritage Woods PM, Port Moody Real Estate | King George Corridor, South Surrey White Rock Real Estate | Knight, Vancouver East Real Estate | Langley City, Langley Real Estate | Lincoln Park PQ, Port Coquitlam Real Estate | Lynn Valley, North Vancouver Real Estate | march2020 | Mary Hill, Port Coquitlam Real Estate | Metrotown, Burnaby South Real Estate | Mission BC, Mission Real Estate | Montecito, Burnaby North Real Estate | monthlyupdate | New Horizons, Coquitlam Real Estate | newsletter | North Coquitlam, Coquitlam Real Estate | Oxford Heights, Port Coquitlam Real Estate | Park Ridge Estates, Coquitlam Real Estate | Pemberton NV, North Vancouver Real Estate | Port Moody Centre, Port Moody Real Estate | Queen Mary Park Surrey, Surrey Real Estate | River Springs, Coquitlam Real Estate | Riverdale RI, Richmond Real Estate | Riverwood, Port Coquitlam Real Estate | Salmon River, Langley Real Estate | Scott Creek, Coquitlam Real Estate | South Meadows, Pitt Meadows Real Estate | South Slope, Burnaby South Real Estate | Sullivan Heights, Burnaby North Real Estate | Sunshine Hills Woods, N. Delta Real Estate | Uptown NW, New Westminster Real Estate | Victoria VE, Vancouver East Real Estate | Walnut Grove, Langley Real Estate | Westwood Plateau, Coquitlam Real Estate | Whalley, North Surrey Real Estate | Willoughby Heights, Langley Real Estate | Woodland Acres PQ, Port Coquitlam Real Estate | Woodwards, Richmond Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.