REBGV President Jill Oudil gives an update on the latest housing market statistics and explains how buyers can be successful in today's market.


Jill Oudil | President, REBGV

 

Demand for condominiums and townhomes continues to drive the Metro Vancouver Market. To better understand what's going on, let's look at four key indicators:

 

The first is home sales. REALTORS® registered 3,553 sales on MLS in Metro Vancouver last month. This is down over 25% form April last year, and is about 5% above the 10-year April sales average. Condominiums and townhomes are the most sought after property types in today's market. For the first four months of the year, they've accounted for 68% fo all residentail sales. This is up 10% from the same period last year.

 

The second indicator is home listings that supply the housing market demand. More than 4,900 homes were listed for sale in April. That's up 3% from March and 20% than last April. 

 

The third key indicator is ...

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President Jill Oudil gives a quick review of the March housing market. She also looks at the difference in supply and demand conditions between property types.



 Jill Oudil | President, REBGV


"A lack of new listings, coupled with strong demand for condos and townhomes impacted Metro Vancouver's housing market in March. To understand what's going on, let's look at four key indicators:

 

The first is home sales. REALTOR® registered 3,579 sales on our MLS in March. This is down over 30% from the record-breaking March of last year, and is about 8% above the 10-year average.

 

The second indicator is home listings that supply the housing market demand. The number of homes for sale in our region was nearly 7,600 homes last month. That's nearly unchanged from February and is roughly 3% higher than this time last year. New listings continue to be well below our 10-year average.

 

The third key indicator is home prices. The benchmark price for all residential homes in Metro...

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 Dan Morrison | President, REBGV

 

"Reluctance amongst Metro Vancouver home sellers is impacting sale, or price activity across the region. Let's take a closer look by reviewing our three key housing market indicators (Sales, Listings, and Prices).
 
The first is home sales. We just registered over 2,400 sales on our MLS in February. This is down over 40% of the record-breaking sales of one year ago. This is about 7% below the 10-year average for the month.
 
The second indicator is home listings to supply housing market demand. The number of homes for sale in our region was about 7,600 homes last month. That's up by about 5% from January and is 4% higher than this time last year. New listings, however, are at a historic low for the month. Only 3,600 homes were newly listed for sale in Februrary. This is the lowest February total in 14 years.
 
The third key indicator is home prices. The benchmark price for all residential homes...
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     Reluctance amongst Metro Vancouver* home sellers is impacting sale and price activity throughout the region’s housing market.



Residential home sales in the region totalled 2,425 in February 2017. This is a 41.9% decrease from the record 4,172 homes sold in February 2016 and an increase of 59.2% compared to January 2017 when 1,523 homes sold.


Last month’s sales were 7.7% below the 10-year February sales average.


“February home sales were well below the record-breaking activity from one year ago and in line with our long-term historical average for the month,” Dan Morrison, Real Estate Board of Greater Vancouver (REBGV) president said. “Limited supply and snowy weather were two factors hampering this activity.”


New listings for detached, attached and apartment properties in Metro Vancouver totalled 3,666 in February 2017. This represents a 36.9% decrease compared to the 5,812 units listed in February 2016 and an 11.4% decrease compared...

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 Dan Morrison | President, REBGV

 

"Metro Vancouver housing market is off to a quieter start in 2017 compared to one year ago. Home sales and listing trends are below historical averages across the region. To understand what’s going on, let’s look at four key indicators.

 

The first is home sales. Realtors registered 1,523 sales on our MLS in January. This is down 40% from a year ago, and is 10% below the 10-year January average. In context, this is the lowest selling January since 2013.

 

The second indicator is home listings to supply housing market demand. The number of homes for sale in our region grew to over 7,200 homes last month. That’s up about 14% in December and is roughly 9% higher than this time last year. This will be the key statistic to watch as we head into the busier spring months because supply is key to determining the pace of home sale and price activities in a market.

 

The third key indicator is home prices. The benchmark...

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