Stats Don’t Lie in the Fall

Typical

It is typical for leaves to fall from deciduous trees in the fall – that’s normal!

If you believe that Stats Don’t Lie then according to the latest Real Estate Board of Greater Vancouver’s ‘Newsflash’, the Vancouver real estate market is “typical”!

Normal

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals.” That according to Sandra Wyant, the President of the Real Estate Board of Greater Vancouver is “helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

  1. October’s sales were 2.8% above the 10 year average
  2. new listings were 1.9% below the 10 year average

October Totals

New Listings in Greater Vancouver totaled 4,315 a 0.2% decline YOY and a 14.2% decline compared to last month there are 15,257 properties for sale – down 12.2% YOY and 5.3% from last month

October’s Numbers

  • sales-to-active-listings ratio at 17.4 per cent
RedLeafonground01 Larry Yatkowsky 375 x 240

Detached

  • Detached Sales in October 2013 reached 1,067 – up 35.1% compared to October 2012
  • Detached Benchmark price decreased 0.5 per cent from October 2012’s $922.600.

Apartment

  • Apartment sales reached 1,098 in October 2013 – up 36.7% compared to October 2012
  • Apartment Benchmark price has declined 0.9 per cent to $365,600

Attached

  • Attached sales in October 2013 totalled 496 – up 46.7% compared to October 2012
  • benchmark price – $458,000, was unchanged from October 2012

My View of Things

No need to get excited – it’s a “typically normal” fall market.

Full Report Here

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.

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*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.

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