Greater Vancouver Real Estate Statistics – June 2013
Hey everyone! Apologies for the late uploading of the June statistics for Greater Vancouver Real Estate, we have been extremely busy!
Nevertheless, we see a stable market for June 2013 here in Vancouver. We see balance between the amount of homes on the Vancouver MLS, and the number of buyers looking to purchase.
During June 2013 we saw 2,642 homes change hands on the Vancouver Multiple Listing System. This was an 11.9% increase when we compare to the same month in the previous year, however a decline of 8.3% compared to 2,882 during May 2013.
Last month’s sales clocked in at 22.2% below the 10 year average, however new listings were also 11.5% below the 10 year average.
“As the term suggests, a balanced market means that many of the key housing market indicators, such as price, are stable and conditions therefore don’t tilt in favour of buyers or sellers,” Sandra Wyant, REBGV president said. “If you plan to enter the market today, identify your needs, consult your REALTOR® and work to build a ‘win-win’ scenario with the people on the other side of the sale.”
New listings totalled 4,874 during the month. When we look back to the previous year of 2012, we notice that this represents a 13.2% decline compared to the 5,617 listings that were reported during June 2012.
If we examine the total number of properties listing on the Greater Vancouver MLS we see 17,289, which represents a 6% decrease compared to June 2012 and a 0.4% increase compared to May 2013.
Sales to active listings ratio is sitting bang on 15%, this is the 4th month in a row that this ratio has been at or above 15%.
Detached Properties in Vancouver
During the month of June 2013 1,102 detached properties were sold, which year over year represents a 19.7% increase from the 921 sales the year before. If we look back even further to June 2011, then we see a 25.1% decline.
Average price has decreased from the peak in June 2012 to $919,900.
Apartments in Vancouver
During June 2013 1,068 apartments were sold on the MLS, increase of 4.1% when we compare to June 2012 (1,026 sales), and a 25.1% decrease from 1,471 units sold during June 2011. Benchmark price it sitting at $369,100 down from the peak in June 2012.
Attached Real Estate in Vancouver
Sales totalled 472 during June 2013. Increase of 13.6% compared to June 2012 where 415 sales occurred, and looking back to June 2011, we see a 10.1% decrease from the 525 units sold that month.
Benchmark price is sitting at $457,000 which is down 2.4% from June 2012.
Give me a call anytime to make sense of these numbers and how they apply to your specific situation. Adam Chahl +1 778 385 6141