VANCOUVER, B.C. – May 2, 2013 – A closer relationship between home buyer demand and
the supply of homes for sale has been having a stabilizing impact on home prices in the Greater
Vancouver housing market over the last three months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This
represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an
11.9 per cent increase compared to the 2,347 sales in March 2013.
Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent
below the 10-year sales average for the month.
“While the number of home sales remains below average, properties that are priced right are
selling and we’re seeing greater balance between buyer demand and the number of homes listed
for sale. This is having a steadying influence on home prices in the region,” says Sandra Wyant,
REBGV president. click here for complete report.
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Home sales continue at below average rate
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March 4,2013 - Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012. Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month. “Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president. The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from last month. This is the first time this ratio has been above 11 per cent since June 2012. “With a two-point increase in our sales to active listings ratio and a reduction in the average number of days it’s taking to sell a home, February showed some subtle indications of a changing sentiment in the marketplace compared to recent months,” Klein said. Greater Vancouver housing market favoured buyers in June
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Greater Vancouver housing market favoured buyers in June
The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012. June sales were the lowest total for the month in the region since 2000 and 32.2 per cent below the 10-year June sales average of 3,484. “Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, REBGV president said. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.” click below for complete stats package _media/Documents/REBGV Stats/Real Estate Stats June 2012.pdf Spring Activity remains balanced
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Spring activity remains balanced in the Greater Vancouver housing market
VANCOUVER, B.C. – June 4, 2012 – The number of properties listed for sale continued to increase in the Greater
Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011. May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May sales average of 3,617. However, sales have been constant throughout the spring months, with 2,874 sales in March and 2,799 sales in April. “Home sellers have outpaced buyers in recent months, however, there continues to be an overall balance between supply and demand in our marketplace,” Eugen Klein, REBGV president said. Real Estate Board releases Sub Category House Price Index Stats Feb 2012
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The new MLS House Price Index statistics package from MLS provides more detailed insight into the pricing trends in localized sub-categories (eg. Richmond-Steveston South or Vancouver-Kitsilano) within a specific community. This is a helpful tool for understanding what's happening when listing or buying properties in specific areas ie in addition to the trend in a general area ie Richmond, Vancouver.
click on the link below for full stats package
MLS Real Estate Stats for Feb 2012
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March 2, 2012 - Greater Vancouver housing market trends near long-term averages as spring market approaches.
Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per cent increase from the 2,473 home sales in February 2010. February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average. “With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season,” Rosario Setticasi, REBGV president said. click link below for full stats package.
_media/Documents/REBGV Stats/REBGV Stats Feb 2012.pdf
Government announces New HST/PST housing transition rules
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Government announces new HST/PST housing transitional rules
The government today announced the HST/PST transitional rules on new homes. As the province transitions back to the PST, which will replace the HST effective April 1, 2013, measures to ease the HST burden on new home buyers include:
HST/PST transition rules will help ensure that whenever purchasers buy a new home they will all pay a consistent and equitable amount of tax, whether the home is built:
The temporary housing transition measures will be in place until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after. REBGV successfully advocated for the following:
The BC Real Estate Association plans to provide Boards with a list of FAQs and draft contract language that REALTORS® can use in their listing agreements and contracts of purchase of sales contracts. We will post these on www.realtorlink.caand in REALTORLink News. For more information, visit the BC Ministry of Finance at: www.pstinbc.ca To read the Ministry of Finance announcement: www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html Balanced Real Estate Market prevailed through much of 2011
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Balanced real estate market prevailed through much of 2011
january 4,2012. The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand. The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region. “It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said. click below to continue reading complete stats package (7 pages)
November Real Estate statistics for Greater Vancouver
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Historically normal activity keeps the Greater Vancouver Housing Market in a balanced state.
VANCOUVER, B.C. – December 2, 2011 – The Greater Vancouver housing market saw relatively typical home sale and listing activity in November.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011.
Interesting article by Landcor on BC Real Estate Q3
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Vancouver, BC - November 17, 2011 For the next four, five years, property values in most all of British Columbia withered and dried. Most, but not all places. The urbanized cores -- the aforementioned watering holes of Greater Vancouver, Vancouver Island and Kelowna -- largely held their own. It's early days but Landcor Data numbers suggest the 'outer' regions could be bottoming out. The big question: Does this signal the waning of the drought, the first trembles up from market trough -- and the signal for the canny and the quick to move in, buy wisely, prudently and longer-term? In uncertain times, nothing can be said with certainty but it seems, maybe, the rains are finally coming.
click here to download full report
Greater Vancouver home sales trend toward buyers’ market over summer
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August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years. “MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.” for complete stats info click on link below Greater Vancouver housing market holds steady and favours sellers in May
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Greater Vancouver housing market holds steady and favours sellers in May. June 2,2011.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,377 in May 2011, a 7 per cent increase compared to the 3,156 sales in May 2010 and a 4.7 per cent increase compared to the 3,225 sales in April 2011. |