January home sales remain quiet

 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013. This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012, and an 18.3 per cent increase compared to the 1,142 sales in December 2012.

 

Last month’s sales were the second lowest January total in the region since 2001 and 18.7 per cent below the 10-year sales average for the month.

 

“Home sale activity has been below historical averages in Greater Vancouver for about seven months. This has caused a gradual decline in home prices of about 6 per cent since reaching a peak last spring,” Klein said.

 

Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 5.9 per cent to $588,100. This represents a 2.8 per cent decline compared to this time last year.

 

“It appears many home sellers are opting to remove their homes from the market rather than settle for a price they don’t want,” Eugen Klein, REBGV president said.

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,128 in January. This represents a 10.9 per cent decline compared to the 5,756 new listings reported in January 2012. Last month’s new listing count was 18.9 per cent higher than 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 13,246, a 5.6 per cent increase compared to January 2012 and a 4.5 per cent decline compared to December 2012. This is the fourth consecutive month that overall home listings have declined in the region.

 

“When a home seller isn’t receiving the kind of offers they want, there comes a point when they decide to either lower the price or remove the home from the market. Right now, it seems many home sellers are opting for the latter,” Klein said.

 

With the sales-to-active-listings ratio at 10.2 per cent, the region remains in buyers’ market territory. Since June, this ratio has ranged between 8 and 11 per cent.

 

Sales of detached properties in January 2013 reached 542, a decrease of 17.8 per cent from the 659 detached sales recorded in January 2012, and a 31.7 per cent decrease from the 793 units sold in January 2011. The benchmark price for detached properties decreased 3.1 per cent from January 2012 to $901,000. Since reaching a peak in May 2012, the benchmark price of a detached property has declined 6.9 per cent.

 

Sales of apartment properties reached 576 in January 2013, a decline of 12.3 per cent compared to the 657 sales in January 2012, and a decrease of 19.2 per cent compared to the 713 sales in January 2011. The benchmark price of an apartment property decreased 2.9 per cent from January 2012 to $358,400. Since reaching a peak in May 2012, the benchmark price of an apartment property has declined 5.6 per cent.

 

Attached property sales in January 2013 totalled 233, a decline of 10.7 per cent compared to the 261 sales in January 2012, and a 25.6 per cent decrease from the 313 attached properties sold in January 2011. The benchmark price of an attached unit decreased 1.7 per cent between January 2012 and 2013 to $449,900. Since reaching a peak in April 2012, the benchmark price of an attached property has declined 7.7 per cent.

Download the complete stats package by clicking here.

Read full post

Housing market sees slight changes in October

The Greater Vancouver housing market saw a slight increase in the number of home sales, a slight reduction in the number of listings, and a slight decrease in home prices in October compared to the summer months. With those changes, the sales-to-active-listings ratio increased to 11 per cent in October from 8 per cent in September.

 

The Real Estate Board of Greater Vancouver (REBGV) reported 1,931 residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) in October, a 16.7 per cent decline compared to the 2,317 sales in October 2011 and a 27.4 per cent increase compared to the 1,516 home sales in September 2012.

 

October sales were 28.5 per cent below the 10-year October sales average of 2,700.

“Buyer demand increased slightly in October compared to the previous few months,” Sandra Wyant, REBGV president-elect said. “Overall conditions in today’s market remain in favour of buyers, with low interest rates, more choice, and less time pressure in terms of decision-making. This translates into a calmer atmosphere for those looking to buy a home and it places more onus on sellers to ensure their homes are priced to compete in today’s marketplace.”

 

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,323 in October. This represents a 1.2 per cent decline compared to October 2011 when 4,374 properties were listed for sale on the MLS® and an 18.8 per cent decline compared to the 5,321 new listings in September 2012.

 

At 17,370, the total number of residential property listings on the MLS® increased 12 per cent from this time last year and declined 5.3 per cent compared to September 2012.

 

Since reaching a peak of $625,100 in May, the MLS Home Price Index® (MLS HPI®) composite benchmark price for all residential properties in Greater Vancouver declined 3.4 per cent to $603,800 in October. This represents a 0.8 per cent decline compared to last year.

 

“There’ve been modest price changes since they peaked in the spring. The largest reductions have occurred in the areas and property types that experienced the biggest price increases over the last few years,” Wyant said.

Since hitting a record high in April, the benchmark price of a detached home on the Westside of Vancouver has declined 8.6 per cent while detached homes in Richmond and West Vancouver have seen declines of 6 per cent over the same time period.

 

Sales of detached properties in Greater Vancouver reached 790 in October, a decrease of 18.9 per cent from the 974 detached sales recorded in October 2011, and a 19.1 per cent decrease from the 976 units sold in October 2010. Since reaching a peak in May, the benchmark price for a detached property in Greater Vancouver has declined 4.1 per cent to $927,500.

 

Sales of apartment properties reached 803 in October 2012, a 16.2 per cent decrease compared to the 958 sales in October 2011, and a decrease of 18.4 per cent compared to the 984 sales in October 2010. Since reaching a peak in May, the benchmark price for an apartment property in Greater Vancouver has declined 2.9 per cent to $368,800.

 

Attached property sales in October 2012 totalled 338, an 11.5 per cent decrease compared to the 382 sales in October 2011, and a 10.3 per cent decrease from the 377 attached properties sold in October 2010. Since reaching a peak in April, the benchmark price for an attached property in Greater Vancouver has declined 2.9 per cent to $457,700.

 

button
Read full post
Categories:   #tax #news #realestate | 1st time buyer | Abbotsford East, Abbotsford Real Estate | Abbotsford West, Abbotsford Real Estate | Aldergrove Langley, Langley Real Estate | B.C. First-Time New Home Buyers' Bonus | BC, Home Owner Grant | Bear Creek Green Timbers, Surrey Real Estate | Birchland Manor, Port Coquitlam Real Estate | Bolivar Heights, North Surrey Real Estate | Bolivar Heights, Surrey Real Estate | Brentwood Park, Burnaby North Real Estate | Bridgeview, North Surrey Real Estate | Brookswood Langley, Langley Real Estate | Burke Mountain, Coquitlam Real Estate | Burnaby | Burnaby Hospital, Burnaby South Real Estate | Canada Day | Canyon Springs, Coquitlam Real Estate | Cariboo, Burnaby North Real Estate | Cedar Hills, North Surrey Real Estate | Central Abbotsford, Abbotsford Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Lonsdale, North Vancouver Real Estate | Central Meadows, Pitt Meadows Real Estate | Central Park BS, Burnaby South Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | Chineside, Coquitlam Real Estate | Citadel PQ, Port Coquitlam Real Estate | Clayton, Cloverdale Real Estate | Cloverdale | Cloverdale BC, Cloverdale Real Estate | Cloverdale, Cloverdale Real Estate | CMHC | Collingwood Vancouver East, Vancouver East Real Estate | Collingwood VE, Vancouver East Real Estate | Coquitlam | Coquitlam East, Coquitlam Real Estate | Coquitlam Real Estate | Coquitlam West, Coquitlam Real Estate | Cottonwood MR, Maple Ridge Real Estate | Country Line Glen Valley, Langley Real Estate | Crescent Bch Ocean Pk., South Surrey White Rock Real Estate | Downtown NW, New Westminster Real Estate | Downtown VE, Vancouver Real Estate | Downtown VW, Vancouver West Real Estate | East Burnaby, Burnaby East Real Estate | East Burnaby, Burnaby Real Estate | East Central, Maple Ridge Real Estate | East Newton, Surrey Real Estate | East Richmond, Richmond Real Estate | Edmonds BE, Burnaby East Real Estate | Fairview VW, Vancouver West Real Estate | financing | Fleetwood Tynehead, Surrey Real Estate | Forest Hills, Langley Real Estate | Fraser Heights, North Surrey Real Estate | Fraser Heights, Surrey Real Estate | Fraser Valley | Fraser VE, Vancouver East Real Estate | Fraserview NW, New Westminster Real Estate | Fraserview VE, Vancouver East Real Estate | Glenwood PQ, Port Coquitlam Real Estate | Government Road, Burnaby North Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Grandview VE, Vancouver East Real Estate | Grandview VE, Vancouver Real Estate | Guildford, North Surrey Real Estate | Guildford, Surrey Real Estate | Heritage Mountain, Port Moody Real Estate | Heritage Woods PM, Port Moody Real Estate | Highgate, Burnaby South Real Estate | Insurance | King George Corridor, South Surrey White Rock Real Estate | Kitsilano, Vancouver West Real Estate | Kitslano, Vancouver West Real Estate | Knight, Vancouver East Real Estate | Langley | Langley City, Langley Real Estate | Maillardville, Coquitlam Real Estate | Mary Hill, Port Coquitlam Real Estate | Meadow Brook, Coquitlam Real Estate | Metrotown, Burnaby South Real Estate | Mid Meadows, Pitt Meadows Real Estate | Mission BC, Mission Real Estate | Mission, Mission Real Estate | Montecito, Burnaby North Real Estate | Morgan Creek, South Surrey White Rock Real Estate | Mortgage | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Murrayville, Langley Real Estate | Nordel, Delta Real Estate | Nordel, N. Delta Real Estate | Nordel, North Delta Real Estate | North Coquitlam, Coquitlam Real Estate | North Shore Pt Moody, Port Moody Real Estate | North Shore, Port Moody Real Estate | Oakdale, Burnaby North Real Estate | Oxford Heights, Port Coquitlam Real Estate | Pacific Douglas, Surrey Real Estate | Panorama Ridge, Surrey Real Estate | Point Grey, Vancouver West Real Estate | Port Moody Centre, Port Moody Real Estate | Port Moody Real Estate | Postal Code | Promontory, Sardis Real Estate | Quay, New Westminster Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Queensborough, New Westminster Real Estate | Real estate | real estate, mortgage, interest rate | Realestate | rebates | Riverwood, Port Coquitlam Real Estate | Sapperton, New Westminster Real Estate | Scottsdale, N. Delta Real Estate | seminar | Sold | South Arm, Richmond Real Estate | South Meadows, Pitt Meadows Real Estate | South Slope, Burnaby South Real Estate | South Vancouver, Vancouver East Real Estate | Southwest Maple Ridge, Maple Ridge Real Estate | Sperling-Duthie, Burnaby North Real Estate | Statistics | statistics, greater vancouver | statistics, real estate, Fraser Valley | Sullivan Heights, Burnaby North Real Estate | Sullivan Station, Surrey Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | Sunshine Hills Woods, N. Delta Real Estate | Surrey | Surrey Real Estate | Surrey, Surrey Real Estate | Tips | Uptown NW, New Westminster Real Estate | Vancouver | Vancouver West Real Estate | Walnut Grove, Langley Real Estate | West Cambie, Richmond Real Estate | West End VW, Vancouver West Real Estate | West Newton, Surrey Real Estate | Westwood Plateau, Coquitlam Real Estate | Whalley, North Surrey Real Estate | Whalley, Surrey Real Estate | Whispering Hills, Maple Ridge Real Estate | White Rock | White Rock, South Surrey Real Estate | White Rock, South Surrey White Rock Real Estate | White Rock, Surrey Real Estate | White Rock, White Rock Real Estate | Willingdon Heights, Burnaby North Real Estate | Willoughby Heights, Langley Real Estate | Willoughby, Langley Real Estate | Yaletown, Vancouver West Real Estate | Yarrow, Yarrow Real Estate
Categories