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October 2013 STATS TO DATE
Balanced conditions continue in the Greater
Vancouver housing market
Home buyer and seller activity continues to mirror historical averages in the
Greater Vancouver housing market. These trends have helped keep the region in a
balanced state for the last nine months.
The Real Estate Board of Greater Vancouver reports that residential property
sales in Greater Vancouver reached 2,661 on the Multiple Listing Service®
(MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931
sales recorded in October 2012, and a 7.2 per cent increase from the 2,483
sales recorded in September 2013.
New listings for attached, detached and apartment properties in Greater
Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline
from the 4,323 new listings reported in October 2012, and a decrease of 14.2
per cent compared to the 5,030 new listings reported in September of this year.
Last month’s sales were 2.8 per cent above the 10-year sales average for the
month, while new listings for the month were 1.9 per cent below the 10-year
“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.”
The total number of properties currently listed for sale on the MLS® in Greater
Vancouver is 15,257, a decline of 12.2 per cent compared to this time last
year, and a decline of 5.3 per cent compared to September 2013.
The sales-to-active-listings ratio is currently at 17.4 per cent in Greater
The MLS® Home Price Index composite benchmark price for all residential
properties in Greater Vancouver is $600,700. This represents a 0.5 per cent
decline compared to this time last year.
Sales of detached properties reached 1,067 in October 2013, an increase of 35.1
per cent from the 790 detached sales recorded in October 2012 and a 9.5 per
cent increase from the 974 units sold in October 2011. The benchmark price for
detached properties decreased 0.5 per cent from October 2012 to $922,600.
Sales of apartment properties reached 1,098 in October 2013, an increase of
36.7 per cent compared to the 803 apartment sales recorded in October 2012, and
an increase of 14.6 per cent compared to the 958 sales in October 2011. The
benchmark price of an apartment property decreased 0.9 per cent from October
2012 to $365,600.
Attached property sales totaled 496, an increase of 46.7 per cent compared to
the 338 attached property sales recorded in 2012 and a 29.8 per cent increase
compared to the 382 attached property sales recorded in October 2011. The
benchmark price of an attached property is $458,000, which is virtually
unchanged from October 2012.