The inventory continues to rise, as is normal for this time of the year, but the buyers that were sitting on the sidelines for the bulk of the last 12 months have finally decided that it is time to buy. It is amazing how fast our market can change from a buyer’s market to a seller’s market. Typically buyers are waiting for the “bottom” of the market in order to purchase, however, you only know that the market has hit its bottom once it starts to pick up again.
Houses under 1 Million continue to be the strongest sellers in North Vancouver, but as prices climb so does that ceiling of “affordable homes”. We saw an incredible 35 sales in the 1 Million – $1.25 Million price range last month marking a 42% sales to listing ratio.
The attached market continues to be “balanced” offering buyers lots of choice and less urgency in making their decision on which apartment or townhouse to purchase. A closer relationship between home buyer demand and the supply of homes for sale has been having a stabilizing impact on home prices in the Greater Vancouver housing market over the last three months.The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an 11.9 per cent increase compared to the 2,347 sales in March 2013.
Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent below the 10-year sales average for the month. “While the number of home sales remains below average, properties that are priced right are selling and we’re seeing greater balance between buyer demand and the number of homes listed for sale. This is having a steadying influence on home prices in the region,” says Sandra Wyant, REBGV president. New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,876 in April. This represents a three per cent decline compared to the 6,056 new listings reported in April 2012 and a 21.4 per cent increase from the 4,839 new listings in March of this year. Last month’s new listing count was 0.4 per cent above the region’s 10-year new listing average for the month.
The total number of properties listed for sale on the MLS® in Greater Vancouver is 16,730, a 1.2 per cent increase compared to April 2012 and an 8.2 per cent increase compared to March 2013. The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This is the second consecutive month that this ratio has been above 15 per cent. Previous to this, May 2012 was the last time this ratio was above 15 per cent. “There have been modest increases in home prices across the region over the last three months. This comes on the heels of home price declines of approximately five to six per cent in Greater Vancouver during the last half of 2012,” Wyant said.
The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $597,300. This represents a decline of 3.9 per cent compared to this time last year and an increase of 1.6 per cent compared to January 2013.
Sales of detached properties reached 1,064 in April 2013, a decrease of 5.5 per cent from the 1,126 detached sales recorded in April 2012, and a 24.1 per cent decrease from the 1,402 units sold in April 2011. The benchmark price for detached properties decreased 5.2 per cent from April 2012 to $914,000. Since January the benchmark price of a detached home has increased 1.4 per cent.
Sales of apartment properties reached 1,052 in April 2013, a decline of 11.6 per cent compared to the 1,190 sales in April 2012, and a decrease of 12.4 per cent compared to the 1,201 sales in April 2011. The benchmark price of an apartment property decreased 2.6 per cent from April 2012 to $365,900. Since January the benchmark price of an apartment home has increased 2.1 per cent.
Attached property sales in April 2013 totalled 511, an increase of 5.8 per cent compared to the 483 sales in April 2012, and a 17.8 per cent decrease from the 622 attached properties sold in April 2011. The benchmark price of an attached unit decreased 3.5 per cent between April 2012 and 2013 to $455,200. Since January the benchmark price of an attached home has increased 1.2 per cent.
Kùcún jìxù shàngshēng, shì zhèngcháng de, zhè yī nián de shíjiān, dàn zuò zàichǎng biān wéi guòqù 12 gè yuè de dà bùfèn gòufáng zhě zhōngyú juédìng, xiànzài shì shíhou mǎi. Zhè shì jīngrén de sùdù yǒu duō kuài kěyǐ gǎibiàn wǒmen de shìchǎng cóng mǎifāng shìchǎng dào màifāng shìchǎng. Rán'ér, tōngcháng qíngkuàng xià, gòufáng zhě zhèngzài děngdài shìchǎng de “dǐbù”, yǐ gòumǎi, nǐ zhǐ zhīdào, shìchǎng yǐjīng chù dǐ, yīdàn tā kāishǐ huíshēng. Gēnjù 100 wàn de fángzi jìxù zài běi wēngēhuá shì zuì qiáng de màijiā, dàn suízhe jiàgé de páshēng rúcǐ,“fùdān de qǐ de zhùfáng” de shàngxiàn. Wǒmen kàn dàole yīgè lìng rén nányǐ zhìxìn de 35 gè xiāoshòu zài 1 wàn - 125 wàn měiyuán de jiàgé fànwéi shàng gè yuè, biāozhìzhe shàngshì bǐ 42%de xiāoshòu.
Liánzhe shìchǎng réngrán shì “pínghéng” de gòufáng zhě tígōng dàliàng de xuǎnzé hé jǐnpò gǎn, shǐ tāmen juédìng gòumǎi gōngyù huò pái wū shǎo. Gòufáng zhě de xūqiú hé gōngyìng de zhùzhái chūshòu gēng mìqiè de guānxì yīzhí yǒu yīgè wěndìng de dà wēngēhuá (REBGV), de zuìhòu 3 gè yuè, fángdìchǎn jú duì fángjià de yǐngxiǎng zài dà wēngēhuá fángwū shìchǎng bàogào, zhùzhái wùyè xiāoshòu Zài dà wēngēhuá dádào 2,627 duōchóng shàngshì fúwù xìtǒng (MLS®)2013 nián 4 yuè. Zhè shì yīgè jiào 2012 nián 4 yuè lù dé de 2,799 gè xiāoshòu xiàjiàng 6.1%,11.9%, Xiāng bǐ 2013 nián 3 yuè de 2,347 gè xiāoshòu zēngzhǎng.
Zuìjìn yīgè yuè de xiāoshòu é děngtóng yú zuìdī yuè lěijì zài gāi dìqū zì 2001 nián yǐlái, hé 20.9%, Dī yú 10 nián de xiāoshòu àn yuè píngjūn shuǐpíng. “Suīrán xīnwū xiāoshòu di shùliàng réngrán dī yú píngjūn shuǐpíng, dìngjià de quánlì de shǔxìng, xiāoshòu hé wǒmen suǒ kàn dào de gèng dà de mǎi jiā de xūqiú hé guàpái chūshòu di fángwū shùliàng zhī jiān de pínghéng. REBGV zǒngcái sāng dé lā huái ēn tè, shuō:“Zhè shì yǒu yīgè wěndìng de yǐngxiǎng lì zài gāi dìqū de zhùfáng jiàgé. Xīn fángchǎn zài dà wēngēhuá dìqū de dúlì, fùjiā hé gōngyù wùyè zǒng'é wèi 5,876 sì yuè. Zhè dài biǎo liǎo bǎi fēn zhī sān, jiào qùnián tóngqí xiàjiàng 6,056 bàogào zài 2012 nián 4 yuè hé jīnnián 3 yuè zēngjiā 21.4%, Cóng 4,839 xīn shàngshì de xīn shàngshì Zuìjìn yīgè yuè xīn shàngshì jìshù wèi 0.4%, Gāo yú gāi dìqū de xīn shàngshì 10 nián àn yuè píngjūn shuǐpíng.