News Release FOR IMMEDIATE RELEASE:
Steady trends continue in the Greater Vancouver housing
VANCOUVER, B.C. – February 4, 2014 – The first month of 2014 saw home sale and listing
totals outpace historical averages in the Greater Vancouver housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 1,760 on the Multiple Listing Service® (MLS®) in January 2014.
This represents a 30.3 per cent increase compared to the 1,351 sales recorded in January 2013,
and a 9.9 per cent decline compared to the 1,953 sales in December 2013.
Last month’s sales were 7.2 per cent above the 10-year sales average for the month.
“The Greater Vancouver housing market has been in a balanced market for nearly a year. This
has meant steady home sale and listing activity accompanied by stable home prices,” Sandra
Wyant, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,345
in January. This represents a 4.2 per cent increase compared to the 5,128 new listings reported in
Last month’s new listing count was 17.7 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
12,602, a 4.9 per cent decline compared to January 2013 and a nine per cent increase compared
to December 2013.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $606,800. This represents a 3.2 per cent increase compared to January
With the sales-to-active-listings ratio at 14 per cent, the region remains in balanced market
“If you’re looking to sell your home in a balanced market, it’s critical that your list price is
reflective of current market conditions,” Wyant said.
Sales of detached properties in January 2014 reached 728, an increase of 34.3 per cent from the
542 detached sales recorded in January 2013, and a 10.5 per cent increase from the 659 units
sold in January 2012. The benchmark price for a detached property in Greater Vancouver
increased 3.2 per cent from January 2013 to $929,700.
Sales of apartment properties reached 753 in January 2014, an increase of 30.7 per cent
compared to the 576 sales in January 2013, and an increase of 14.6 per cent compared to the 657
sales in January 2012. The benchmark price of an apartment property increased 3.7 per cent from
January 2013 to $371,500.
Attached property sales in January 2014 totalled 279, an increase of 19.7 per cent compared to
the 233 sales in January 2013, and a 6.9 per cent increase from the 261 attached properties sold
in January 2012. The benchmark price of an attached unit increased 1.7 per cent between January
2013 and 2014 to $457,700.