Vancouver’s Stats Don’t Lie

Alignment

According the Real Estate Board of Greater Vancouver, “Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February.”

Highlights

  • Residential property sales in Greater Vancouver reached 2,545 – 61.4% higher than January 2012’s 1,577 – down 17.8 per cent compared to February 2011’s 3,097 – February sales third lowest since 2002
  • Board Spin: “With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season.”
  • Listings – 17.9% increase YOY
  • MLSLink Housing Price Index® says YOY Greater Vancouver increased 6 per cent to $670,900
  • Detached Sales Down – 61.4% higher than January 2012’s 1,577 – at 1,101, February 2012’s Detached sales record a YOY decline of 21.5 per cent
  • Detached Benchmark Up – increased 10.5 per cent from February 2011 to $1,042,900
  • Apartment Sales Down – 1,020 sales in February 2012, a decline of 15.4 per cent compared to the 1,206 sales in February 2011.
  • Apartment Benchmark Up – YOY benchmark price increased 2.8 per cent to $373,300.
  • Town Home Sales Down – sales in February 2012 totaled 424, YOY a decline of 13.3%
  • Town Home benchmark Up – price increased 0.7 per cent YOY to $472,800

Board Thoughts

“Region-wide we’ve seen relative stability in home prices over the last six months, but it’s important to do your homework and consult your REALTOR® because pricing can vary considerably depending on the neighbourhood and property type.”

Complete Report Here *Data and quotes courtesy Real Estate Board of Greater Vancouver Image Credit

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Scott Says:
March 3rd, 2012 at 10:51 am

Im confused by the benchmark statistics being up YOY. As a Realtor would know better than I, but didn’t the REBGV just introduce a new benchmark system that can’t be compared year over year?

I would guess that’s one way that stats actually could lie!

March 3rd, 2012 at 11:29 am

@scott

confused – probably, that’s normal for most of the world 🙂

MLS HPI benchmark does go back in time. It just doesn’t go as far back as the original version.
See this post for clarification – http://www.yattermatters.com/2012/01/better-stats-for-you/

BubbleBoy Says:
March 3rd, 2012 at 3:58 pm

“confused – probably, that’s normal for most of the world”

I’m not confused at all. I see clouds in the blue skies just like you do Larry. I see the clouds becoming darker and darker each day. This summer will have the least sunshine on record. The dark clouds will be here for quite sometime. And the mud puddles at 2050 SW Marine dr will be much larger than it is now.

March 3rd, 2012 at 5:10 pm

@bubbles

“I’m not confused at all.”

Oh goody! One less cloud in my sky! 🙂

L8erDude Says:
March 5th, 2012 at 4:13 pm

@ Bubble boy

are you looking for an argument or a discussion?
Try being a little more gracious. I think you’ll be pleasantly surprised by the results.

BubbleBoy Says:
March 5th, 2012 at 8:49 pm

L8terDude,

It’s my honest opinion regarding RE. I’ve said it many times, Van east doing well, everywhere else is not doing as well. Richmond is flooded and sales are slow. Wanna argue that?

i'm a buyer Says:
March 5th, 2012 at 8:54 pm

spring is in the air! ups we go !

Loon Says:
March 5th, 2012 at 9:07 pm

Lies, damn lies and statistics probably sums it up best.

BubbleBoy Says:
March 6th, 2012 at 8:51 am

Lies? This is definitely a lie.

http://vreaa.wordpress.com/

A home that has a market value of over $900k listed $200k below market value. Will sell for xxxxxxx over asking.

March 6th, 2012 at 10:47 am

@bubbles

What a sob story. Reminds me of Barretta’s line – ‘don’t roll the dice if you can’t pay the price’

BubbleBoy Says:
March 6th, 2012 at 5:32 pm

Larry,

The Feds rolled the dice, and the taxpayers will pay the price. The conservatives screwed this one up bigtime.

March 6th, 2012 at 5:45 pm

@bubbles
ah well, that ain’t quite right – we the people rolled the dice at the polls.

Reasonfirst Says:
March 7th, 2012 at 2:17 pm

…and less than 50% voted Conservative

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