Looking back at the housing statistics of Metro Vancouver, there has been a steady increase in demand in the month of March. According to the Real Estate Board of Greater Vancouver (REBGV), residential property sales in Greater Vancouver topped out at 4,060 just last month. In comparison to the same month last year, there has been a 53.7% increase in unit sales and a 32.6% increase in comparison to February 2015. It has been noted that there has been strong competition amongst home buyers as there have been multiple offer situations and there has been some upward pressure on home prices.
5,968 new listings in March for detached, attached and apartment properties within the Metro Vancouver area were recorded. In contrast to March 2014 totals, this represents a 13% increase. However, the total number of properties actively listed for sale on the Multiple Listing Service has moved in the opposite direction with a 14.5% decline in comparison to March 2015 listings.
According to the REBGV president, Darcy McLeod, "[t]he number of homes for sale today is below what's typical for this time of year. If you've been considering putting your property on the market, these market conditions indicate that now may be a good time to list".
The Metro Vancouver residential properties benchmark price is currently sitting at $660,700. The sales-to-active-listings ratio is at an all-time high since July 2007 with a ratio of 32.8%.
For all your real estate needs, contact us at info@wesellvancouver.ca or alternatively at 604-801-6654.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.