June 3, 2014
An increase in home buyer demand put Great Vancouver in the upper reaches of a balanced real estate market in May.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 3,286 on the Multiple Listing Service® (MLS®) in May 2014. This represents a 14 per cent increase compared to the 2,882 sales recorded in May 2013, and a 7.7 per cent increase compared to the 3,050 sales in April 2014.
Last month’s sales were 6.5 per cent below the 10-year sales average for May of 3,514.
The sales-to-active-listings ratio currently sits at 20.4 per cent in Greater Vancouver, which is the first time that this measure has been above 20 per cent since June 2011.
“Our MLS® statistics tell us that there’s more home buyer demand today than at any point over the last three years,” Ray Harris, REBGV president said. “With sales surpassing the 3,000 mark in May and our sales-to-active-listing ratio exceeding 20 per cent, this is the most active marketplace we’ve seen since the spring of 2011,”
For the full Greater Vancouver Real Estate Results package please click: REBGV Stats Package, May 2014
If you have any questions or would like further information on the real estate market in Greater Vancouver and Sea-to-Sky Country, please contact Kevin O’Toole: +1.604.340.1267 or email firstname.lastname@example.org