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Monday, June 17, 2013

Balanced Market in Spring of 2013

June 03, 2013 While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.


Last month’s sales were 19.4 per cent below the 10-year sales average for the month, while new listings for the month were 7.4 percent below the 10-year average.


“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing...

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Monday, March 4, 2013

Greater Vancouver Homes Sales Continue At Slower Pace

Home sale activity has trended below historical averages for a full year in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,797 on the Multiple Listing Service® (MLS®) in February 2013. This represents a 29.4 per cent decrease compared to the 2,545 sales recorded in February 2012, and a 33 per cent increase compared to the 1,351 sales in January 2012.

 

Last month’s sales were the second lowest February total in the region since 2001 and 30.9 per cent below the 10-year sales average for the month.

 

“Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months, said Eugen Klein, REBGV president.

 

The sales-to-active-listings ratio currently sits at 12.2 per cent in Greater Vancouver, a two per cent increase from...

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Thursday, January 3, 2013

Price Hold Firm for End of 2012

>House Price Index<

 

Jan 03, 2012 The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.

 

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

 

The number of residential properties listed for sale on the MLS® in Greater Vancouver declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential properties listed in 2010. Last year’s listing total...

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Tuesday, October 2, 2012

Real Estate Market Continues to Favour Buyers

To view House Price Index graphs, click here

 

VANCOUVER, B.C. – October 2, 2012 – The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012. September sales were 41.6 per cent below the 10-year September sales average of 2,597.


“There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president said. “This makes homes less affordable for the people of the region.”


New listings for detached,...

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Tuesday, September 4, 2012

2012 August Market Update

Home sellers outnumber buyers in Greater Vancouver’s summer housing market

For House Price Index Charts, Click Here - Burnaby House Price Change Summary


September 4, 2012 Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.


August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.


“Home sales this summer have been lower than we’ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices,” Eugen Klein, REBGV president said.


New listings for detached, attached and apartment properties...

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Wednesday, July 4, 2012

Real Estate Market Trends Toward Favouring Buyers

July 04, 2012 - The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012.
 
June sales were the lowest total for the month in the region since 2000 and 32.2 per cent below the 10-year June sales average of 3,484.
 
“Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, REBGV president said. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,617 in June. This represents a 3 per cent decline compared to June...
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Monday, June 4, 2012

Spring activity remains balanced in the Greater Vancouver housing market

To view Vancouver area and Burnaby House Price Index and benchmark price graphs, click here.

 

VANCOUVER, B.C. – June 4, 2012 – The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months.


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver
reached 2,853 on the Multiple Listing Service® (MLS®) in May 2012. This represents a 15.5 per cent decline compared to the 3,377 sales recorded in May 2011.


May sales were the lowest total for the month in the region since 2001 and 21.1 per cent below the 10-year May
sales average of 3,617. However, sales have been constant throughout the spring months, with 2,874 sales in March and 2,799 sales in April.


“Home sellers have outpaced buyers in recent months, however, there continues to be an overall...

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Wednesday, November 2, 2011

Greater Vancouver at Lower End of Balanced Housing Market

 

November 2, 2011 – With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.
 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.
 
“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”
 
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Thursday, July 7, 2011

The Summer Housing Market Trends Toward More Balance

The Greater Vancouver - Burnaby Real Estate Market is returning to a more balanced state, as new listings are outpacing sales. New listings for June were 9.8% higher that the 10-year average, while sales were over 7% below.
 
The MLSLink® Benchmark House Price Index for all residential properties over the 12 month period increased by 8.7% . For detached houses, the increases were the largest, with Vancouver Westside leading the way, followed by West Vancouver. Richmond, which had been experiencing very strong prices, appears to be levelling off. The Benchmark price for all detached homes increased by 13.4% year over year, and now sits at 901,680.
 
Apartments have shown more modest growth, with the benchmark price for all apartments increasing by 3.5% year over year, to $405,200.
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Tuesday, May 3, 2011

Burnaby and Surrounding Areas Experience a Typical Spring Market in April

May 03 2011 : Last month saw typical sales, relative to the near record setting pace in March, bringing much more balance to the market, although still somewhat of a seller’s market.
Year over year, the benchmark price for all properties increased by 5%, but market strength does vary considerably depending on what area you are looking resulting in widely varying prices in different communities. CLICK HERE to view Burnaby and surrounding area House Price Index charts for various property types across communities.
To download the complete statistics package from the Real Estate Board, CLICK HERE.
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