Vancouver’s Stats Don’t Lie – November 2014

Breaking Tradition

The late fall Vancouver real estate market is ripe with tradition. In the past there was the accorded slowing of the market both in sales and listings as people would cast their thoughts to matters other than real estate. Seemingly more important, they tended to cast their thoughts to preparing their gardens for the ensuing winter, get busy plugging holes to stop the cold seasonal drafts that entered their homes, cheer for their Grey Cup champions or reflect on the light fluffy first snows settling on ski runs.

This year tradition has taken a back seat. According to the Greater Vancouver Real Estate Board’s monthly statistics the Vancouver market is active.

On Average

percent house dollars

November 2014’s sales were up compared to November 2013. Even though the increase was down 17.7% compared to the previous month of October it was still 6.9% above the 10 year average.

Active

“It’s been a more active fall than we typically see in the Metro Vancouver housing market,” Ray Harris, REBGV president said. “Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.”

Listings Down

New listings for all residential property types in Vancouver totalled 3,016 in November 2014 – a 7.1% decrease compared to the 3,245 new listings in November 2013. November 2014’s total listing count was 12,553, down 10.2% compared to November 2013.

Vancouver’s Real Estate Activity

November Retrospective

  • Sales in November 2014 were 60.9 percent higher than November 2012

The Numbers

Detached

  • November’s detached sales totalled 1,102 up 9.3% from the 926 sales recorded in November 2013.
  • $997,800 is the new Detached Benchmark price – up 7.39% from November 2013.
House Picture Prices Rising

Apartment

  • Apartment Sales totaled 1,052 in November 2014 – up 8.6% compared to the 969 sales in November 2013.
  • Apartment Benchmark price reached $379,500, up 3.2% from November 2013

Attached

  • Attached Sales reached a total of 452 in November 2014 – up 6.1% compared to November 2013.
  • Compared to November 2013 the benchmark price was up 4.8% to $480,200.

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.

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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.

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