VANCOUVER, B.C. – May 2, 2013 – A closer relationship between home buyer demand and
the supply of homes for sale has been having a stabilizing impact on home prices in the Greater
Vancouver housing market over the last three months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 2,627 on the Multiple Listing Service® (MLS®) in April 2013. This
represents a 6.1 per cent decrease compared to the 2,799 sales recorded in April 2012, and an
11.9 per cent increase compared to the 2,347 sales in March 2013.
Last month’s sales equate to the lowest April total in the region since 2001 and 20.9 per cent
below the 10-year sales average for the month.
“While the number of home sales remains below average, properties that are priced right are
selling and we’re seeing greater balance between buyer demand and the number of homes listed
for sale. This is having a steadying influence on home prices in the region,” says Sandra Wyant,
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,876
in April. This represents a three per cent decline compared to the 6,056 new listings reported in
April 2012 and a 21.4 per cent increase from the 4,839 new listings in March of this year. Last
month’s new listing count was 0.4 per cent above the region’s 10-year new listing average for
The total number of properties listed for sale on the MLS® in Greater Vancouver is 16,730, a 1.2
per cent increase compared to April 2012 and an 8.2 per cent increase compared to March 2013.
The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This is the
second consecutive 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.
“There have been modest increases in home prices across the region over the last three months.
This comes on the heels of home price declines of approximately five to six per cent in Greater
Vancouver during the last half of 2012,” Wyant said.