register | confirm account | forgot password
The Galway Group
Macdonald Realty Ltd
#6 - 20691 Lougheed Hwy., Maple Ridge, BC
P: 604-467-3871
F: 604-467-0584
Email
Home Evaluation Button
Button advertising your home evaluation feature
Home Evaluation
MLS® Search Button
Button advertising your MLS® Search page
Map-based MLS® Search
Photo and business card details widget
Sue Galway
Agent Photo
TelephoneOffice Phone:
604-467-3871
TelephoneMobile Phone:
604-828-8476
TelephoneFax:
604-467-2651
Email MeEmail:
Photo and business card details widget
Anny An 安玉人
Agent Photo
TelephoneOffice Phone:
604-467-3871
TelephoneMobile Phone:
604-377-2568
TelephoneFax:
604-467-2651
Email MeEmail:
Photo and business card details widget
Mellissa Galway
Agent Photo
Email MeEmail:

Tuesday, June 4, 2013 - May 2013 Market update

 

 


While the number of home sales in Greater Vancouver continued to trend below the 10-year average in May, the balance of sales and listings meant continued market stability this spring.

       
 


The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,882 on the Multiple Listing Service® (MLS®) in May 2013. This represents a one per cent increase compared to the 2,853 sales recorded in May 2012, and a 9.7 per cent increase compared to the 2,627 sales in April 2013.
 


Last month’s sales were 19.4 per cent below the 10-year sales average for the month, while new listings for the month were 7.4 percent below the 10-year average.
 


“We’ve seen some steadying trends over the last three months,” Sandra Wyant, REBGV president said. “The number of homes listed for sale has been keeping pace with the number of property sales, leading to a balanced sales-to-listings ratio. This is having a stabilizing influence on home price activity.”
 


New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,656 in May. This represents an 18.3 per cent decline compared to the 6,927 new listings reported in May 2012 and a 3.7 per cent decline from the 5,876 new listings in April of this year.
 


The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 17,222, a 3.4 per cent decrease compared to May 2012 and a 2.9 per cent increase compared to April 2013.
 


The sales-to-active-listings ratio currently sits at 17 per cent in Greater Vancouver. This is the third straight month that this ratio has been above 15 per cent. Previous to this, May 2012 was the last time this ratio was above 15 per cent.
 


The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $598,400. This represents a decline of 4.3 per cent compared to this time last year and an increase of 1.8 per cent compared to January 2013.
 


Sales of detached properties reached 1,212 in May 2013, an increase of 2.7 per cent from the 1,180 detached sales recorded in May 2012, and a 22.8 per cent decrease from the 1,570 units sold in May 2011. The benchmark price for detached properties decreased 5.2 per cent from May 2012 to $917,200.
 


Sales of apartment properties reached 1,136 in May 2013, a decline of 1.7 per cent compared to the 1,156 sales in May 2012, and a decrease of 7.5 per cent compared to the 1,228 sales in May 2011. The benchmark price of an apartment property decreased 3.7 per cent from May 2012 to $365,600.
 


Attached property sales in May 2013 totalled 534, an increase of 3.3 per cent compared to the 517 sales in May 2012, and a 7.8 per cent decrease from the 579 attached properties sold in May 2011. The benchmark price of an attached unit decreased 3.2 per cent between May 2012 and 2013 to $454,900.

posted in News at Tue, 04 Jun 2013 21:22:42 +0000



This site's content is the responsibility of The Galway Group, licensed REALTOR®(s) in the Province of British Columbia.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

© 2024, All Rights Reserved | Privacy Policy | Mobile Site | REALTOR® Websites by RealPageMaker