Stats Don’t Lie – At Least Not in Vancouver

Crystal Ball Visions

Vancouver home buyer’s influence as seen in the crystal ball of statistics has settled on the Vancouver market. Those in the know say the market is ‘slightly elevated’ according to the latest report from the Real Estate Board of Greater Vancouver. As witnessed on the street, some property types and areas are seeing activity extending beyond that reserved statement.

Above Average

Wizard-with-Crystal-Ball

Last month’s sales were 3.9% higher than the same month last year as property sales reached 3,061 units.

Darcy Mcleod, the Board’s President-elect, states that “This is the fourth consecutive month that the Greater Vancouver market has exceeded 3,000 sales. A number not seen since 2011”.

Mcleod continues saying that “today’s activity continues to put Metro Vancouver in the upper reaches of a balanced real estate market.”

Vancouver’s Home Buyer Activity

July Volume

  • July sales were 3.8 per cent above the 10-year sales average for July of 2,948.
  • Total listings for sale in Metro Vancouver is 15,617 – a 6% decline compared to July 2013.

All About Numbers

Detached

  • Detached Sales in July 2014 reached 1,322 – up 5.8% compared to July 2013’s 1,210
  • $980,500 is the new Detached Benchmark price which is up 6.5% from July 2013.
House Picture Prices Rising

Apartment

  • Apartment Sales totaled 1,212 in July 2014 – up 0.2% compared to July 2013’s 1,210
  • Apartment Benchmark price reached $376,500, up 3.4% from July 2013

Attached

  • Attached Sales totalled 527 in July 2014 – up 8.2% compared to July 2013’s 487
  • From July 2013 the benchmark price has risen 3.4% to $472,400

More Numbers 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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