Tim & Sharon Rohwer and Carrie Galbraith

Blog › March 2016

Balanced conditions continue in the Greater Vancouver housing market

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. 
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New Listing 5024 Wallace Avenue, Delta, BC


R2052269 - 5024 Wallace Avenue, Delta, BC, CANADAView my new listing for sale SOLD at 5024 Wallace Avenue, Delta and currently listed at $1,488,000.SOLD

One of the best investment properties to come on the Tsawwassen market! We welcome you to visit this 15,490 sf sun drenched South Facing property, ultra private with no neighbours behind! This home is located on a quiet cul-de-sac in the desirable Pebble Hill neighbourhood. This 2,267 sf rancher style home includes 4 spacious bedrooms with 3 bathrooms. Bright and airy layout with views of mature beautiful trees and plenty of sunlight! Come see this unique property at our open house on Sunday April 3rd, 2 to 4 pm.

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Recently Sold Listing 5186 N Whitworth Crescent, Delta, BC


R2044068 - 5186 N Whitworth Crescent, Delta, BC, CANADAI have just recently sold this listing at 5186 N Whitworth Crescent, Delta.

New Listing 5186 N Whitworth Crescent, Delta, BC


R2044068 - 5186 N Whitworth Crescent, Delta, BC, CANADAView my new listing for sale SOLD at 5186 N Whitworth Crescent, Delta and currently listed at $1,348,000.SOLD

JUST LISTED AND MOVE IN READY. Whitworth Crescent - Ladner's most desirable neighbourhood. Don't miss this fabulous custom built 4 bedroom, 3 bath family home featuring master on the main. Thousands spent on updates which include fully new kitchen with new cabinets, counters, appliances, etc., new 4 piece state of the art main bath, den with cozy fireplace and built in cabinets, French doors, all new carpets up, new stamped concrete driveway and pathways, new easy care garden area. The picturesque large 9,461 sf fenced gardens with feature water pool are landscaped for privacy and entertaining. Plenty of parking and a double garage. 10 out of 10 for location and condition.