Greater Vancouver Real Estate Statistics – August 2013

Greater Vancouver Real Estate Statistics – August 2013

September 4, 2013 in Market News, Vancouver Real Estate News

During the month of August 2013 we saw 2,514 sales recorded on the Vancouver MLS®. This is an increase of 52.5% if we compare to the same month during 2012, and a 14.7% decline from July of this month when 2,946 sales occurred.

August 2013’s sales were down 4.6% below the 10 year average for the month.

“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”

There were 4,186 new listings during the month of August, this is up 3.5% from the same month in 2012,a and 13.8% decline from the 4,854 new listings during July 2013.

The sales-to-active listing ratio is sitting at 15.7%, which according to the Real Estate Board of Greater Vancouver indicated that we are in a balanced market.

“People entering the market should not confuse stronger sales activity with rising prices. Home prices have been quite stable and consistent for much of this year,”

Detached Properties

1,052 properties changed hands on the Greater Vancouver MLS during August 2013 – this represents an increase of 69% from August 2012, and a 3.1% increase from the units sold in August 2011 (1,020). Benchmark price is currently sittings at $923,700 and has decreased 2% since August 2012.

Apartment Properties

During August, 1,018 apartment properties changed hands. increasing 40.4% compared to 725 sales in August 2012, and 3.1% from 1,020 units sold in August 2011. Benchmark price is sitting at $366,100, which represents a decrease of 1.1% from August 2012.

Attached Properties

444 attached properties were sold during August 2013, an increase of 48% compared to August 2012, when 300 properties changed hands, and if we look back to August 2011 when 403 were sold, we see a 10.2% increase. Benchmark pricing has decreased from August 2012 to $457,000.

August 2013, Real Estate Board of Greater Vancouver, REBGV, Sandra Wyant, Statistics

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