Vancouver Housing Report March, 2015

April 3, 2015

in Vancouver housing report, Vancouver real estate

Demand continued to rise across Metro Vancouver’s housing market in March

Richmond city center Prados condos The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 4,060 on the Multiple Listing Service® (MLS®) in March 2015. This represents a 53.7 per cent increase compared to the 2,641 sales recorded in March 2014, and a 32.6 per cent increase compared to the 3,061 sales in February 2015.

Last month’s sales were 26.8 per cent above the 10-year sales average for the month.

“We’re seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices,” Darcy McLeod, REBGV president said. View homes for sale in metro Vancouver.

Statistics at a glance:

  • Total new listings for detached, attached and apartment properties in Metro Vancouver – 5,968 units, 13% higher than a March 2014.
  • Currently total REBGV MLS® listings totaled 12,376, a 14.5 per cent decline compared to March 2014, but 4% higher than the previous month.
  • The benchmark price for all residential properties in Metro Vancouver is currently $660,700 which is 7.2% higher than March 2014.
  • The sales-to-active-listings ratio at 32.8% is the highest ratio achieved since July 2007.

“We’re seeing strong competition amongst home buyers today. This is leading to more multiple offer situations and some upward pressure on home prices,” Darcy McLeod, REBGV president said

Housing type sales report in March

  • Detached properties – 1,711 units, an increase of 53.3% compared to 1,116 in March 2014.
  • The benchmark price in Metro Vancouver was up 11.2% to $1,052,800 compared with March 2014.
  • Attached properties – 722 units, an increase of 72.3% over 419 sales in March 2014.
  • The benchmark price of an attached unit increased 4.9% to $484,900 compared to March 2014.
  • Apartment properties – 1,627 units in March 2015, an increase of 47.1% compared to March 2014.
  • The benchmark price of an apartment property increased 3.3 per cent from March 2014 to $390,200.

View full report here.

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