Monthly Market Updates
This monthly report is on base of Greater Vancouver Real Estate Board along with other Real Estate data base analysis and information. To get more information and market updates you can subscribe to our mailing list.
Home listings increase while buyers remain in holding pattern
VANCOUVER, BC – February 4, 2019 – Home listings continue to increase across all housing categories in the Metro Vancouver* housing market while home buyer activity remains below historical averages. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,103 in January 2019, a 39.3 per cent decrease from the 1,818 sales recorded in January 2018, and a 2.9 per cent increase from the 1,072 homes sold in December 2018. Last month’s sales were 36.3 per cent below the 10-year January sales average and were the lowest January-sales total since 2009. “REALTORS® are seeing more traffic at open houses compared to recent months, however, buyers are choosing to remain in a holding pattern for the time being,” Phil Moore, REBGV president said. There were 4,848 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2019. This represents a 27.7 per cent increase compared to the 3,796 homes listed in January 2018 and a 244.6 per cent increase compared to the 1,407 homes listed in December 2018. The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,808, a 55.6 per cent increase compared to January 2018 (6,947) and a 5.2 per cent increase compared to December 2018 (10,275). For all property types, the sales-to-active listings ratio for January 2019 is 10.2 per cent. By property type, the ratio is 6.8 per cent for detached homes, 11.9 per cent for townhomes, and 13.6 per cent for condominiums.
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Greater Vancouver Market Updates
The market report for February is out now and here is a hint how about the key points to know about:
Sales Ratio % Market Type Guide
Sellers Market 21% & Greater | Balanced Market 12 to 20% | Buyers Market up to 11%
When Sales Ratio is Greater than 100%
The previous month's sold counts can exceed the active listing count in the moment we pull the data on the first business day of the month. This is especially true in rapid market conditions. It is important to note that the active listings recorded do not include any of the sold listings recorded. REBGV and FVREB report the same. For more details contact us.