Sales Still Driving the Vancouver Market

  • Last month was the highest selling June on record, according to the Real Estate Board of Greater Vancouver’s most recent report. “Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” said Dan Morrison, REBGV president.

    However, “While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” continued Morrison. The sales-to-active listings ratio was lower last month than it has been since February, but it didn’t slow overall residential property sales, which were 28.1% above the 10-year sales average for June, totalling at the 4,400 mark. Read on for the rest of the stats.

    The Market At a Glance:

    New Listings (detached, attached, and apartment): 5,875
    1.2% increase from June 2015
    6.6% decrease from May 2016

    Total Active listings on MLS®: 7,812
    35.9% decline from June 2015
    1.1% increase from May 2016

    Sales-to-Active-Listings ratio: 56.3%

    Benchmark price for all residential properties: $917,800
    32.1% increase from June 2015

    Benchmark price for a detached property: $1,561,500
    38.7% increase from June 2015

    Detached property sales totalled 1,562
    18.6% decrease from June 2015

    Benchmark price for an apartment property: $501,100
    25.3% increase from June 2015

    Apartment property sales totalled 2,108
    18.8% increase from June 2015

    Benchmark price for an attached unit: $656,900
    28.1% increase from June 2015

    Attached property sales totalled 730
    7.2% increase from June 2015

    If you’re interested in seeing the complete breakdown, visit rebgv.org for all of the detailed comparisons. Want some advice on how your home fits in? Contact us for a consultation today!

    *REBGV Editor’s Note: Areas covered by 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, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.

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