Home sales activity picks up the pace in September
VANCOUVER, B.C. – October 2, 2014 – Home buyers were active in Metro Vancouver last
month, with home sales well exceeding the 10-year average for September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 2,922 on the Multiple Listing Service® (MLS®) in September 2014.
This represents a 17.7 per cent increase compared to the 2,483 sales in September 2013, and a 5.4 per cent increase over the 2,771 sales in August 2014.
Last month’s sales were 16.1 per cent above the 10-year sales average for the month and rank as the third highest selling September over that period.
“September was an active period for our housing market when we compare it against typical
activity for the month,” Ray Harris, REBGV president said.
New listings for detached, attached and apartment properties in Metro Vancouver* totalled 5,259
in September. This represents a 4.6 per cent increase compared to the 5,030 new listings in
September 2013 and a 33.5 per cent increase from the 3,940 new listings in August. Last
month’s new listing total was 0.4 per cent above the region’s 10-year new listing average for the
month.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver
is 14,832, an 8 per cent decline compared to September 2013 and a 0.4 per cent increase
compared to August 2014.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $633,500. This represents a 5.3 per cent increase compared to September
2013.
“Gains in home values are being led by the detached home market. Condominium and townhome
properties are not experiencing the same pressure on prices at the moment,” Harris said.
“Individual trends can vary depending on different factors in different areas, so it’s important to
do your homework and work with your REALTOR® when you’re looking to determine the
market value of a home.”
Sales of detached properties in September 2014 reached 1,270, an increase of 24.1 per cent from
the 1,023 detached sales recorded in September 2013, and a 113.8 per cent increase from the 594
units sold in September 2012. The benchmark price for detached properties increased 7.3 per
cent from September 2013 to $990,300.
Sales of apartment properties reached 1,188 in September 2014, an increase of 16.7 per cent
compared to the 1,018 sales in September 2013, and a 75.7 per cent increase compared to the 676
sales in September 2012. The benchmark price of an apartment property increased 3.3 per cent
from September 2013 to $378,700.
Attached property sales in September 2014 totalled 464, a 5 per cent increase compared to the
442 sales in September 2013, and an 88.6 per cent increase over the 246 attached properties sold
in September 2012. The benchmark price of an attached unit increased 4.2 per cent between
September 2013 and 2014 to $477,700.
www.rebgv.org.
For more information please contact:
Craig Munn, Assistant Manager of Communications
Real Estate Board of Greater Vancouver
Phone: (604) 730-3146
cmunn@rebgv.org
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Information obtained from the Real Estate Board of Greater Vancouver
