October 2015 Housing Market Update

Home buyers remain active across Metro Vancouver

Housing market statistics indicate Metro Vancouver home buyers push October sales above long-term average.

The Real Estate Board of Greater Vancouver reports that residential property sales in Metro Vancouver reached 3,646 on the Multiple Listing Service® in October 2015. This represents a 9% increase compared to the 3,345 sales in September 2015.

“Home sales are more than one-third above what’s typical for this time of year yet the supply of homes for sale is the lowest we’ve seen in five years,” Darcy McLeod, REBGV president said. “This activity has created favourable market conditions for anyone considering selling their home today.”

Last month’s sales were 36.2% above the 10-year sales average for the month.

 

New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,126. This is the lowest active listing total in Metro Vancouver since December 2010.

 

  • Benchmark price for a detached property in Metro Vancouver increased 20.1% cent from October 2014.
  • Benchmark price of an apartment property increased 11.4% from October 2014.
  • Benchmark price of an attached unit increased 9.3% from October 2014.

Source: http://www.rebgv.org/

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