Home sales activity picks up the pace in September Home buyers were active in Metro Vancouver last month, with home sales well exceeding the 10-year average for September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. […]
Written by Kevin O'Toole on October 2nd, 2014
Home buyers were active in Metro Vancouver last month, with home sales well exceeding the 10-year average for September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014. This represents a 17.7 per cent increase compared to the 2,483 sales in September 2013, and a 5.4 per cent increase over the 2,771 sales in August 2014.
Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September over that period.
“September was an active period for our housing market when we compare it against typical activity for the month,” Ray Harris, REBGV president said.
New listings for detached, attached and apartment properties in Metro Vancouver* totalled 5,259 in September. This represents a 4.6 per cent increase compared to the 5,030 new listings in September 2013 and a 33.5 per cent increase from the 3,940 new listings in August. Last month’s new listing total was 0.4 per cent above the region’s 10-year new listing average for the month.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,832, an 8 per cent decline compared to September 2013 and a 0.4 per cent increase compared to August 2014.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $633,500. This represents a 5.3 per cent increase compared to September 2013.
“Gains in home values are being led by the detached home market. Condominium and townhome properties are not experiencing the same pressure on prices at the moment,” Harris said. “Individual trends can vary depending on different factors in different areas, so it’s important to do your homework and work with your REALTOR® when you’re looking to determine the market value of a home.”
Sales of detached properties in September 2014 reached 1,270, an increase of 24.1 per cent from the 1,023 detached sales recorded in September 2013, and a 113.8 per cent increase from the 594 units sold in September 2012. The benchmark price for detached properties increased 7.3 per cent from September 2013 to $990,300.
See the full report here: Vancouver Real Estate Statistics Report September 2014
If you have any questions or would like to know how this affects your home and property’s value, please call Kevin on 604-340-1267 or email kevin@findaproperty.ca
Last month’s sales were 10.3 per cent below our 10-year January sales average. [read more]
The BC Home Owner Mortgage and Equity (HOME) Partnership program will offer qualifying home buyers loans of up to $37,500, interest and payment free, for five years. [read more]
Metro Vancouver home sales dipped below the 10-year monthly sales average last month. This is the first time this has occurred in the region since May 2014. [read more]
Metro Vancouver homes sales resembled more typical levels in July. [read more]
Last month was the highest selling February on record for the Metro Vancouver housing market. [read more]
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