Stats Don’t Lie – Vancouver Real Estate Report for June

Buyer Run

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.

Grizzly-Catching-Salmon-Web

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

June Volume

  • 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

The Numbers

Detached

Sun-Run-webCourtesy Vancouver Sun
  • 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

  • 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

  • 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

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.

Reader Comments:

Romeo Jordan Says:
July 4th, 2014 at 7:30 pm

Hi Larry,

Sounds like the market is going to explode higher!

Bidding wars and surging demand in the face if shrinking listings.

Recipe for a bull market!

Lowest rates in history don’t hurt either.

Enjoy!!!!

July 5th, 2014 at 10:49 pm

It is really true that demand of real estate assets are increasing day by day and it will be more demandable in the near future.

July 5th, 2014 at 11:06 pm

@ray aka @mortgage calculator – Geez Ray as a mortgage broker I’m surprised you ask the question.

Jackson Says:
July 9th, 2014 at 8:13 am

You give too much credit to mortgage brokers.

July 11th, 2014 at 10:41 am

@jackson
guess i’m used to working with those who are in the know.

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