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Vancouver Real Estate September 2013 Market Update

Sale and listing activity continues to follow historical averages

VANCOUVER, B.C. – October 2, 2013 – Home buyer and seller activity in the Greater

Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year

averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in

Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013.

This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012,

and a 1.2 per cent decline compared to the 2,514 sales in August 2013.

Last month’s sales were 1 per cent below the 10-year sales average for the month, while new

listings for the month were 3.5 per cent below the 10-year average.

“While sales are up considerably from last year, it’s important to note that September 2012 sales

were among the lowest we’ve seen in nearly three decades,” Sandra Wyant, REBGV said.

“Home sale and listing activity this September were in line with the 10-year average for the

month.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,030

in September. This represents a 5.5 per cent decline compared to the 5,321 new listings reported

in September 2012 and a 20.2 per cent increase compared to the 4,186 new listings in August of

this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is

16,115, a 12.2 per cent decrease compared to September 2012 and a 0.5 per cent increase

compared to August 2013.

The sales-to-active-listings ratio currently sits at 15.4 per cent in Greater Vancouver.

“It’s important to remember that stronger sales activity does not necessarily equate to rising

home prices. In fact, home prices have not fluctuated much in our market this year,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in

Greater Vancouver is currently $601,900. This represents a decline of 0.7 per cent compared to

this time last year and an increase of 2.3 per cent compared to January 2013.

Sales of detached properties reached 1,023 in September 2013, an increase of 72.2 per cent from

the 594 detached sales recorded in September 2012, and a 6.9 per cent increase from the 957

units sold in September 2011. The benchmark price for detached properties decreased 1.4 per

cent from September 2012 to $922,600.

Sales of apartment properties reached 1,018 in September 2013, an increase of 50.6 per cent

compared to the 676 sales in September 2012, and an increase of 10.4 per cent compared to the

922 sales in September 2011. The benchmark price of an apartment property decreased 0.5 per

cent from September 2012 to $366,600

Attached property sales in September 2013 totalled 442, an increase of 79.7 per cent compared to

the 246 sales in September 2012, and a 20.4 per cent increase from the 367 attached properties

sold in September 2011. The benchmark price of an attached unit is currently $458,300, which is

unchanged from September 2012.

STATS Provided by The Real Estate Board of Greater Vancouver

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