Kitty van der Meer, REALTOR  604-760-5392  kvandermeer@sutton.com

    Sutton Group -Sutton WestCoast Realty - #102 - 403 North Road, Coquitlam, BC V3K 3V9

    Kitty van der Meer is not affiliated with developers and is not liable for any errors and omissions. Not intended to cause or induce a breach of an existing agency relationship. Kitty van der Meer's intention is to help you find the right home and to give you unbiased advise about your home purchase. 

    The information on this website is from a variety of sources which may include the developers website, advertisements, sales centre, MLS or other sources and is not guaranteed and is subject to change. You are advised to read the Developers Contract and Property Disclosure Statement carefully and have your lawyer review it.  

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      Housing Market Update (March 2017): February Home Sales Reflect Typical Consumer Demand

      March 16, 2017

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      Steady Sales and Diminished Listings in 2017

      Steady sales and diminished listings characterize 2017 for the Metro Vancouver housing market

       

       

      VANCOUVER, BC – January 3, 2018 – After reaching record levels in 2015 and 2016, Metro Vancouver* home sales returned to more historically normal levels in 2017. Home listings, on the other hand, came in several thousand units below typical activity.

       

      The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 35,993 on the Multiple Listing Service® (MLS®) in 2017, a 9.9 per cent decrease from the 39,943 sales recorded in 2016, and a 15 per cent decrease over the 42,326 residential sales in 2015.

       

      Last year’s sales total was, however, 9.7 per cent above the 10-year sales average.

       

      “It was a steady year for home sales across the region, led by condominium and townhome activity, and a quieter year for home listings,” Jill Oudil, REBGV president said. “Metro Vancouver home sales were the third highest we’ve seen in the past ten years while the home listings total was the second lowest on record for the same period.”

       

      Home listings in Metro Vancouver reached 54,655 in 2017. This is a 5.1 per cent decrease compared to the 57,596 homes listed in 2016 and a 4.5 per cent decrease compared to the 57,249 homes listed in 2015.

       

      Last year’s listings total was 4.4 per cent below the 10-year listings average.

       

      “Market activity differed considerably this year based on property type,” Oudil said. “Competition was intense in the condominium and townhome markets, with multiple offer situations becoming commonplace. The detached home market operated in a more balanced state, giving home buyers more selection to choose from and more time to make decisions.”

       

      The MLS® HPI composite benchmark price for all residential properties in Metro Vancouver ends the year at $1,050,300. This is up 15.9 per cent compared to December 2016.

       

      The benchmark price of condominiums increased 25.9 per cent in the region last year.

      Townhomes increased 18.5 per cent and detached homes increased 7.9 per cent.

       

      “Strong economic growth, low interest rates, declining unemployment, increasing wages and a growing population all helped boost home buyer demand in our region last year,” Oudil said.

       

       

      *Editor’s Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.

      The Real Estate Board of Greater Vancouver is an association representing more than 14,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, please contact us.

       

      Craig Munn,

      Manager, Communication

      Real Estate Board of Greater Vancouver

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