Drew & Patti Steeves Team

HomeLife Benchmark Titus Realty

Cell (604) 230-5700

Office (604) 575-5262

Email: drew@drewsteeves.com

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Local Market Update: January Stats



The Real Estate Board of Greater Vancouver (REBGV) has released the latest stats from January for the local market, citing an 8.7% increase in residential property sales over January 2014. See below for some highlights from the report. 

 

- Residential property sales in Greater Vancouver reached 1,913 on the Multiple Listing Service® (MLS®) in January 2015 compared to the 1,760 sales recorded in January 2014, and a 9.6 per cent decline compared to the 2,116 sales in December 2014.

 

- Last month’s sales were 14.9 per cent above the 10-year sales average for the month.

 

- New listings for detached, attached and apartment properties in Metro Vancouver1 totalled 4,737 in January. This represents an 11.4 per cent decline compared to the 5,345 new listings reported in January 2014.

 

- The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $641,60022. This represents a 5.5 per cent increase compared to January 2014.

 

“While demand remains steady, we’re seeing fewer homes for sale at the moment,” Ray Harris, REBGV president, said. "This is creating greater competition amongst buyers, particularly in the detached home market. The number of detached homes listed for sale today is the second lowest we’ve seen in four years.”


To view the full article from the Real Estate Board of Greater Vancouver, click here

 

If you are thinking about selling your home in 2015 and have some questions about the local market and how to price your home competitively to appeal to buyers & help it sell fast, contact us to schedule a meeting. 


Image source: Working in Peel Halton

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.