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Vancouver Real Estate October 2013 Market Update

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VANCOUVER, B.C. – November 4, 2013 – 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 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.”

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 Vancouver.

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.


STATS Provided by the Real Estate Board of Greater Vancouver

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vancouver real estate update stats october 2013 average home price sale price, per square foot, days on market, area stats west and north

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