{"id":214,"date":"2015-12-02T10:12:19","date_gmt":"2015-12-02T18:12:19","guid":{"rendered":"http:\/\/www.findaproperty.ca\/blog\/?p=214"},"modified":"2015-12-02T10:16:20","modified_gmt":"2015-12-02T18:16:20","slug":"vancouver-housing-demand-strong-despite-diminishing-supply","status":"publish","type":"post","link":"https:\/\/www.findaproperty.ca\/blog\/vancouver-housing-demand-strong-despite-diminishing-supply\/","title":{"rendered":"Vancouver Housing Demand Strong Despite Diminishing Supply"},"content":{"rendered":"

VANCOUVER, B.C. \u2013 December 2, 2015 \u2013\u00a0<\/strong>The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 3,524 on the Multiple Listing Service\u00ae (MLS\u00ae) in November 2015. This represents a 40.1 per cent increase compared to the 2,516 sales recorded in November 2014, and a 3.3 per cent decrease compared to the 3,646 sales in October 2015.<\/span><\/p>\n

Last month\u2019s sales were 46.2 per cent above the 10-year sales average for the month and rank as the second highest November on record for residential property sales.<\/p>\n

\u201cNovember is typically one of the quietest months of the year in our housing market, but not this year,\u201d Darcy McLeod, REBGV president said. \u201cThe ratio of sales to home\u2019s available for sale reached 44 per cent in November, which is the highest it\u2019s been in our market in nine years.\u201d<\/p>\n

New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,392 in November. This represents a 12.5 per cent increase compared to the 3,016 new listings reported in November 2014.<\/p>\n

The total number of properties listed for sale on the real estate board\u2019s MLS\u00ae is 8,096, a 35 per cent decline compared to November 2014 and a 15.4 per cent decline compared to October 2015.<\/p>\n

\u201cDemand remains strong and there are housing options at different price points throughout the region,\u201d McLeod said. \u201cIt\u2019s important to work with your REALTOR\u00ae to understand your options before you embark on your home buying journey.\u201d<\/p>\n

\"vancouver<\/a><\/p>\n

The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $752,500. This represents a 17.8 per cent increase compared to November 2014.<\/p>\n

The sales-to-active-listings ratio in November was 43.5 per cent. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12 per cent mark, while home prices often experience upward pressure when it reaches 20 per cent, or higher, in a particular community for a sustained period of time.<\/p>\n

Read the full statistical package here:\u00a0Vancouver Real Estate Statistics Report November 2015<\/a><\/p>\n

To learn more about your neighbourhood and property in the greater market, contact Kevin on 604-340-1267<\/a> or kevin@findaproperty.ca<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Home sales reached near record levels in November even as home listings began the traditional year-end decline.<\/p>\n","protected":false},"author":2,"featured_media":216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13,15,2],"tags":[11,38,12,39,41],"_links":{"self":[{"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/posts\/214"}],"collection":[{"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/comments?post=214"}],"version-history":[{"count":2,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/posts\/214\/revisions"}],"predecessor-version":[{"id":220,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/posts\/214\/revisions\/220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/media\/216"}],"wp:attachment":[{"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/media?parent=214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/categories?post=214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.findaproperty.ca\/blog\/wp-json\/wp\/v2\/tags?post=214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}