Greater Vancouver Real Estate Statistics – October 2013
We are continuing to see balanced conditions in the Greater Vancouver housing market. We are seeing activity that is typical of historical averages, and these trends are helping to keep the market in check, and in a balanced state over the past few months.
During the month of October 2013, we saw 2,661 residential properties change hands on the Vancouver MLS. This represents a 37.8% increase compared to October 2012, where we saw 1,931 sales. And if we compare to September 2013 where we saw 2,483 sales, we calculate a 7.2% increase.
During October, new listings that came online totalled 4,315. During October 2012, we saw 4,323 new listings (so a 0.2% decline), and compared to September 2013 we see a 14.2% decline (5,030 new listings).
When we look at the 10 year average, sales in October trended 2.8% above the average for the month, and new listings we 1.9% below the 10 year average.
“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”
When we look at the total number of properties currently listed, there are 15,257 active listings, a decline of 12.2% from the same month last year, and 5.3% decline compared to September 2013. Sales to active listing ratio is currently at 17.4%.
Total number of sales: 1,067 (Up 35.1& from October 2012, and 9.5% increase from October 2011)
Benchmark Price: $922,600 (Decrease of 0.5% from October 2012)
Total number of sales: 1,098 (Increase of 36.7% from 803 sales during October 2012, and 14.6% increase compared to 958 sales in October 2011)
Benchmark Price: $365,600 (Decrease of 0.9% from October 2012)
Total number of sales: 496 (Increase of 46.7% from 338 sales during October 2012, and 29.8% increase compared to 382 sales in October 2011)
Benchmark Price: $458,000 (No change from October 2012)