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Market News & Blog Updates

Here is what's happening in Vancouver's housing market.
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VANCOUVER, B.C. – January 5, 2015 – It was a typical year for the Metro Vancouver
housing market in certain respects. The region’s home sale and listing totals for 2014 both rank
fifth when compared against the past 10 years of activity, while home prices increased.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached,
attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the
28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in
2012.


The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in
Metro Vancouver increased 2.4 per cent in 2014 to 56,066 compared to the 54,742 properties
listed in 2013. Looking back further, last year’s total represents a four per cent decline compared
to the 58,379 residential properties listed for sale in 2012.

 

“While home buyer and seller activity created balanced market conditions within the region, we
also experienced some upward pressure on home prices over the course of the year,” Ray Harris,
REBGV president said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to
December 2013. 

 

“Detached homes continue to be the most sought after property type in our market,” Harris, said.
“Detached homes in Metro Vancouver have increased 8.1 per cent in value over the last 12
months while townhome and condominium properties have increased 4.5 and 3.5 per cent over
the same period.”

 

December summary
Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of
8.3 per cent from the 1,953 sales recorded in December 2013 and a 15.9 per cent decline
compared to November 2014 when 2,516 home sales occurred.


New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888
in December 2014. This represents a 1.7 per cent increase compared to the 1,856 units listed in
December 2013 and a 37.4 per cent decline compared to November 2014 when 3,016 properties
were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 10,320, a 10.7 per cent decline compared to December 2013 and a 17.8 per cent decrease
compared to November 2014.


Sales of detached properties in December 2014 reached 833, an increase of 9.3 per cent from the
762 detached sales recorded in December 2013. The benchmark price for detached properties
increased 8.1 per cent from December 2013 to $1,002,200.

 

Sales of apartment properties reached 912 in December 2014, an increase of 7.3 per cent
compared to the 850 sales in December 2013.The benchmark price of an apartment property
increased 3.5 per cent from December 2013 to $380,700.

 

Attached property sales in December 2014 totalled 371, an increase of 8.8 per cent compared to
the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 per cent
between December 2013 and 2014 to $476,800.

Source: The Real Estate Board of Greater Vancouver

 
Back to Blog

VANCOUVER, B.C. – January 5, 2015 – It was a typical year for the Metro Vancouver
housing market in certain respects. The region’s home sale and listing totals for 2014 both rank
fifth when compared against the past 10 years of activity, while home prices increased.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached,
attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the
28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in
2012.


The number of residential properties listed for sale on the Multiple Listing Service® (MLS®) in
Metro Vancouver increased 2.4 per cent in 2014 to 56,066 compared to the 54,742 properties
listed in 2013. Looking back further, last year’s total represents a four per cent decline compared
to the 58,379 residential properties listed for sale in 2012.

 

“While home buyer and seller activity created balanced market conditions within the region, we
also experienced some upward pressure on home prices over the course of the year,” Ray Harris,
REBGV president said.

 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to
December 2013. 

 

“Detached homes continue to be the most sought after property type in our market,” Harris, said.
“Detached homes in Metro Vancouver have increased 8.1 per cent in value over the last 12
months while townhome and condominium properties have increased 4.5 and 3.5 per cent over
the same period.”

 

December summary
Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of
8.3 per cent from the 1,953 sales recorded in December 2013 and a 15.9 per cent decline
compared to November 2014 when 2,516 home sales occurred.


New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888
in December 2014. This represents a 1.7 per cent increase compared to the 1,856 units listed in
December 2013 and a 37.4 per cent decline compared to November 2014 when 3,016 properties
were listed.

 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 10,320, a 10.7 per cent decline compared to December 2013 and a 17.8 per cent decrease
compared to November 2014.


Sales of detached properties in December 2014 reached 833, an increase of 9.3 per cent from the
762 detached sales recorded in December 2013. The benchmark price for detached properties
increased 8.1 per cent from December 2013 to $1,002,200.

 

Sales of apartment properties reached 912 in December 2014, an increase of 7.3 per cent
compared to the 850 sales in December 2013.The benchmark price of an apartment property
increased 3.5 per cent from December 2013 to $380,700.

 

Attached property sales in December 2014 totalled 371, an increase of 8.8 per cent compared to
the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 per cent
between December 2013 and 2014 to $476,800.

Source: The Real Estate Board of Greater Vancouver

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