Real Estate of Greater Vancouver Statistics Graph February 2014

In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,530 on the Multiple Listing Service® (MLS®) in February 2014. This represents a 40.8% increase compared to the 1,797 sales recorded in February 2013, and a 43.8% increase compared to the 1,760 sales in January 2014.

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17 sales separating the two figures.

The sales-to-active-listings ratio currently sits at 18.9% in Greater Vancouver, a 4.9% increase from last month.

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, REBGV president.  “We typically see home buyers become more active in and around the spring months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,700 in February. This represents a 2.8% decline compared to the 4,833 new listings reported in February 2013 and a 12.1% decline from the 5,345 new listings in January. Last month’s new listing count was 0.5% below the region’s 10-year new listing average for the month.

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 13,412, a 9.3% decline compared to February 2013 and a 6.4% increase compared to January 2014.

“With the market continuing to perform at a steady, balanced pace, it’s important for home sellers to ensure their homes are priced correctly for today’s conditions,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $609,100. This represents a 3.2% increase compared to February 2013.

Sales of detached properties in February 2014 reached 1,032, an increase of 46.6% from the 704 detached sales recorded in February 2013, and a 6.3% decrease from the 1,101 units sold in February 2012. The benchmark price for detached properties increased 3.5% from February 2013 to $932,900.

Sales of apartment properties reached 1,032 in February 2014, an increase of 35.8% compared to the 760 sales in February 2013, and a 1.2% increase compared to the 1,020 sales in February 2012. The benchmark price of an apartment property increased 3.6% from February 2013 to $373,300.

Attached property sales in February 2014 totalled 466, an increase of 39.9% compared to the 333 sales in February 2013, and a 9.9% increase from the 424 attached properties sold in February 2012. The benchmark price of an attached unit increased 0.6% between February 2013 and 2014 to $458,300.

Downloard the Complete Stats Package for February 2014 by clicking here.

source  rebgv

Contact Agnieszka Stryjecka for more information on Vancouver Real Estate.   778.991.5881