Stats Don’t Lie – Vancouver’s February Market Update

Steady Pace

According to the Greater Vancouver Real Estate board the “housing market has maintained the steady pace set throughout 2013.”

The Pres Says

According to Sandra Wyant, REBGV’s president “we typically see home buyers become more active in and around the spring months.”

Carving out a new paradigm she continues saying – “with the market continuing to perform at a steady, balanced pace, it’s important for home sellers to ensure their homes are priced correctly for today’s conditions.”

February Volume

House Picture Prices Rising
  • only 17 units apart – February sales are a mirror of the 10 year average
  • residential property sales in Greater Vancouver reached 2,530 in February 2014
  • increase of 40.83% compared to the 1,797 sales in February 2013
  • new listings for detached, attached and apartment properties totalled 4,700
  • down 2.8% compared to February 2013’s 4,833
  • total listings 13,412, down 9.3% compared to February 2013

The Numbers

Detached

  • Detached Sales in February 2014 reached 1,032 – up 46.6% compared to February 2013’s 704542
  • $932,900 is the Detached Benchmark price which climbed to 3.5% compared to February 2013.

Apartment

  • Apartment sales totaled 1,032 in February 2014 – up 35.8% compared to February 2013’s 760
  • The apartment Benchmark price is $373,300, an increase of 3.6% compared to February 2013

Attached

  • Attached sales totalled 466 in February 2014 – up 39.9% compared to February 2013
  • Compared to February 2013 the benchmark price is up 0.6% to $458,300

Where Are We Headed

Depends – will history be our future? Assuming that becomes our reality then it will be a good year for buyers and sellers of real estate.

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.

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.

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