September’s Stats Don’t Lie

Sell Sell Sell

According to the Real Estate Board of Greater Vancouver sales are booming or in Realtor speak – “Conditions continue to favour home sellers.”

Let’s See

Eyeglasses-City-for-web

Sales were up 14.5% compared to last year but down by 0.5% compared to last month. Depending on your long or short term outlook this month’s stats could reflect a boom or a bust. If you look 10 years down the road sales were 32.9% above the 10 year average.

Did someone say that real estate holding was a long term investment?

The Pres Says

“Residential home sales have been trending at 25 to 30 per cent above the ten-year sales average for most of the year. The number of homes listed for sale hasn’t been keeping up with the demand. It’s this dynamic that’s placing upward pressure on home prices, particularly in the detached home market.”

“At no point this year has the number of homes listed for sale exceeded 14,000, which is the first time this has occurred in the region since 2007.”

Ask why this has happened and you will find reason scattered.

September Numbers

Detached

  • September 2015 detached sales reached 1,272, an increase of 0.2 per cent from the 1,270 detached sales recorded in September 2014
  • The benchmark price for a detached property in Metro Vancouver increased 18.9 per cent from September 2014 to $1,179,700
Spiraling House Price

Apartment

  • apartment property sales reached 1,529 in September, an increase of 28.7 per cent compared to the 1,188 sales in September 2014
  • Apartment Benchmark price increased 9.0 per cent from September 2014 to $415,100

Attached

  • September sales totalled 544, an increase of 17.2 per cent compared to the 464 sales in September 2014
  • Attached Benchmark prices increased 8.1 per cent between September 2014 and September 2015 to $518,600.

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.

Reader Comments:

Bbcoq Says:
October 8th, 2015 at 7:02 am

If “reason is scattered” what is the most popular view held by those in the business? Demographic cycles? The notion that things will continue to appreciate? Low interest rates?

October 8th, 2015 at 9:39 am

@bbcoq
If I had made a list those would probably be near or at the the top

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