July home sale activity increases in Greater Vancouver - REBGV
VANCOUVER, B.C. – August 2, 2013 – Sunny weather did not slow the pace of home sale
activity in July. Last month was the highest selling month of the year in Greater Vancouver and
the highest selling July since 2009.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Greater Vancouver reached 2,946 on the Multiple Listing Service® (MLS®) in July 2013.
This represents a 40.4 per cent increase compared to the 2,098 sales recorded in July 2012, and an
11.5 per cent increase compared to the 2,642 sales in June 2013.
Last month’s sales were 0.1 per cent above the 10-year sales average for the month.
“Demand has strengthened in our market in the last few months, which can, in part, be attributed
to pent-up demand from the slowdown in sales activity we saw at the end of last year,” Sandra
Wyant, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,854
in July. This represents a 1.1 per cent increase compared to the 4,802 new listings reported in
July 2012 and a 0.4 per cent decline from the 4,874 new listings in June of this year.
The total number of properties currently listed for sale on the MLS® in Greater Vancouver is
16,618, which is an 8.1 per cent decrease compared to July 2012 and a 3.9 per cent decline from
The sales-to-active-listings ratio rose two and-a-half percentage points between June and July to
17.7 per cent in Greater Vancouver. This is the highest this ratio has been in Greater Vancouver
since April 2012.
The MLS® Home Price Index composite benchmark price for all residential properties in
Greater Vancouver is currently $601,900. This represents a decline of 2.3 per cent compared to
this time last year and an increase of 2.3 per cent over the last six months.
“Home prices continue to experience considerable stability with minimal fluctuation throughout
much of this year,” Wyant said. “This stability in price brings greater certainty to the home
buying and selling process.”
Sales of detached properties reached 1,249 in July 2013, an increase of 59 per cent from the 787
detached sales recorded in July 2012, and a 13.7 per cent increase from the 1,099 units sold in
July 2011. The benchmark price for detached properties decreased 3.1 per cent from July 2012 to
Sales of apartment properties reached 1,210 in July 2013, an increase of 31 per cent compared to
the 927 sales in July 2012, and an increase of 16.3 per cent compared to the 1,040 sales in July
2011. The benchmark price of an apartment property decreased 1.6 per cent from July 2012 to
Attached property sales in July 2013 totalled 487, an increase of 27 per cent compared to the 384
sales in July 2012, and a 12.7 per cent increase from the 432 attached properties sold in July
2011. The benchmark price of an attached unit decreased 2.6 per cent between July 2012 and
2013 to $456,700.