August, 2013 housing report for Greater Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that the sales of residential properties in Greater Vancouver remain active:
- total home sales at 2,514 represents a 52.5% increase compared to the 1,649 sales recorded in August 2012.
- it is 14.7% lower than the 2,946 sales in July 2013.
- August 2013’s sales were 4.6% below the 10-year sales average for the month.
- sales of detached properties reached 1,052, an increase of 69% from the 624 detached sales recorded in August 2012.
- sales of apartment properties reached 1,018, an increase of 40.4 per cent compared to the 725 sales in August 2012.
- attached property sales totalled 444, an increase of 48 per cent compared to the 300 sales in August 2012.
The total number of properties currently listed for sale on the MLS® in Greater Vancouver at 16,027 is an 8.8 per cent lower than August 2012 and a 3.6% lower than July 2013. The sales-to-active-listings ratio currently sits at 15.7% in Greater Vancouver is considered in a balanced market conditions. View homes for sale in Vancouver West with price tag over $2.5 million.
The MLS® Home Price Index
The composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013. The benchmark price for detached properties decreased 2 per cent from August 2012 to $923,700. The benchmark price of an apartment property decreased 1.1 per cent from August 2012 to $366,100. The benchmark price of an attached unit decreased 1.1 per cent between August 2012 and 2013 to $457,000.