Vancouver’s Real Estate Stats Don’t Lie

Clickety-Clack

If you have ever taken a train ride you may have heard the monotonous clickety-clack sound of steel wheels hitting the rail joint. It is a soothing sound which ensures that the train is moving forward to reach its destination.

In this episode of Stats Don’t Lie we hear a similar clickety-clack sound from the Real Estate Board of Greater Vancouver that sounds like this: “home sales in Greater Vancouver outpaced last year’s total yet lagged the region’s historical average for the month.”

Presidential Clickety-Clack

Train4

According to the Board’s new President Ray Harris, “we continue to see steady and stable market conditions across the Greater Vancouver housing market. There has been a consistent balance between home seller supply and home buyer demand in our marketplace over the last year.”

Keeping to the clickity-clack rhythm Mr. Harris tells us that “home prices in the region have experienced incremental gains in most areas and property types over the last 12 months” adding that ”it’s important to remember that this is a diverse market place and trends will vary depending on area and property type.”

March Volume

  • at 3,190 units, March’s sales were 17.2% below the 10 year average
  • sales-to-active listings ratio is steady at 18.2%
  • total listings are down by 6.4% YOY
  • current listing inventory sits at 14,472

The Numbers

Detached

House Picture Prices Rising
  • Detached Sales in March 2014 reached 1,116 – up 19.6% compared to March 2013’s 933
  • $945,400 is the Detached Benchmark price which climbed by 4.2% compared to March 2013.

Apartment

  • Apartment sales totaled 1,106 in March 2014 – up 12.6% compared to March 2013’s 982
  • The apartment Benchmark price is $375,800, an increase of 4.2% compared to March 2013

Attached

  • Attached sales totalled 432 in March 2014 – down 3% compared to March 2013
  • Compared to March 2013 the benchmark price is up 1.3% to $460,100
Kerrisdale Walk Commercial (15)

Down The Track

These numbers and those who claim to know suggest the Vancouver real estate train will continue down this track. Assuming you have the money it may be a reasonable time to buy or sell a home in Vancouver.

What we don’t know and can’t see in the shadows of uncertainty is whether there is an event ahead standing ready to turn a switch that will send this real estate train towards a different destination.

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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