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Metro Vancouver home buyers compete for fewer home listings


Conditions continue to favour home sellers across *Metro Vancouver’s housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in

Metro Vancouver reached 3,345 on the Multiple Listing Service® (MLS®) in September 2015. This

represents a 14.5 per cent increase compared to the 2,922 sales recorded in September 2014, and

a 0.5 per cent decrease compared to the 3,362 sales in August 2015.

Last month’s sales were 32.9 per cent above the 10-year sales average for the month.

“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,

” Darcy McLeod, REBGV president said. “It’s this dynamic that’s placing upward pressure on

home prices, particularly in the detached home market.”

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,846

in September. This represents a 7.9 per cent decline compared to the 5,259 new listings reported

in September 2014.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro

Vancouver is currently $722,300. This represents a 13.7 per cent increase compared to

September 2014.

 

Click here to download the complete stats package.