The spawning ‘run’ of salmon in our B.C. rivers is an annual event. Based on June’s Stats that Don’t Lie the Vancouver Real Estate Board tells us that June saw a ‘run’ of Vancouver home buyers.
Taking the Leap
Last month’s sales were 0.6 per cent above the 10 – year sales average for June of 3,386.
The Board’s President Ray Harris claims that “competition amongst home buyers today is as strong as it’s been in the region” as the sales to active listing ration reached its highest level since 2011.
“Over the last three years , we’ve seen changes in demand yet home prices at the regional level have maintained relative stability. While these numbers provide high level trends, it’s important to know that changes in prices always vary depending on neighbourhood and property type.”
Vancouver Home Buyer Activity
- 3,406 unit sales pushed June’s sales to a a 28.9% increase over last year
- Total New listings 5,339 up 9.5% YOY
- Total Active listings 16,011, down 7.4% YOY
- Detached Sales in June 2014 reached 1,462 – up 32.7% compared to June 2013’s 1,102
- $976,700 is the Detached Benchmark price up 6.2% compared to June 2013.
- Apartment Sales totaled 1,308 in June 2014 – up 22.5% compared to June 2013’s 1,068
- The apartment Benchmark price is $378,000, up 2.4% compared to June 2013
- Attached Sales totalled 636 in June 2014 – up 34.7% compared to June 2013’s 472
- Compared to June 2013 the benchmark price is up 3.1% to $471,200