Bandel & Associates

Direct: 604.678.3333 |

Market News & Blog Updates

Here is what's happening in Vancouver's housing market.

Home buyers continue to slightly outpace sellers, but not by much!

VANCOUVER, B.C. – August 5, 2014 – The Greater Vancouver housing market continues to

see slightly elevated demand from home buyers, steady levels of supply from home sellers and

incremental gains in home values depending on the area and property type.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in

Greater Vancouver reached 3,061 on the Multiple Listing Service® (MLS®) in July 2014. This

represents a 3.9 per cent increase compared to the 2,946 sales recorded in July 2013, and a 10.1

per cent decline compared to the 3,406 sales in June 2014.


“This is the fourth consecutive month that the Greater Vancouver market has exceeded 3,000

sales,” Darcy McLeod, REBGV president-elect said. “Prior to this, our market had not surpassed

the 3,000 sale mark since June of 2011.”


Last month’s sales were 3.8 per cent above the 10-year sales average for July of 2,948.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro

Vancouver* is currently $628,600. This represents a 4.4 per cent increase compared to July


“Today’s activity continues to put Metro Vancouver in the upper reaches of a balanced real

estate market,” McLeod said. The sales-to-active-listings ratio currently sits at 19.6 per cent in Metro Vancouver.

This ratio has ranged between 18 and 20 per cent over the last four months.


New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,925

in July. This represents a 1.5 per cent increase compared to the 4,854 new listings in July 2013

and a 7.8 per cent decline from the 5,339 new listings in June.


The total number of properties currently listed for sale on the MLS® system in Metro Vancouver

is 15,617, a six per cent decline compared to July 2013 and a 2.5 per cent decrease compared to

June 2014.


Sales of detached properties in July 2014 reached 1,322, an increase of 5.8 per cent from the

1,249 detached sales recorded in July 2013, and a 68 per cent increase from the 787 units sold inJuly 2012.

The benchmark price for detached properties increased 6.5 per cent from July 2013 to



Sales of apartment properties reached 1,212 in July 2014, an increase of 0.2 per cent compared to

the 1,210 sales in July 2013, and a 30.7 per cent increase compared to the 927 sales in July 2012.

The benchmark price of an apartment property increased 2.2 per cent from July 2013 to



Attached property sales in July 2014 totalled 527, an 8.2 per cent increase compared to the 487

sales in July 2013, and a 37.2 per cent increase over the 384 attached properties sold in July

2012. The benchmark price of an attached unit increased 3.4 per cent between July 2013 and

2014 to $472,400.


-30- Statistics provided by the Greater Vancouver Real Estate Board.

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.