Market Update January 2014

(February 04, 2014 )

Steady trends continue in the Greater Vancouver housing market


The first month of 2014 saw home sale and listing totals outpace historical averages in the Greater Vancouver housing market.

Sales in Greater Vancouver in January 2014 increased 30.3% over January 2013. Last months sales were also 7.2% above the 10-year sales average for the month.

The Greater Vancouver housing market has been in a balanced market for nearly a year.  This has meant steady home sales and listing activity accompanied by stable home prices.

The total number of properties currently listed for sale on the Greater Vancouver MLS is 4.9% decline compared to December 2013.

With the sales-to-active-listings ratio at 14% the region remains in balanced territory.  If your looking to sell your home in a balanced market, it's critical that your list price is reflective of current market conditions.

Sales of detached properties in January 2014 increased 34.3% from the recorded sales in January 2013 and a 10.5% increase from January 2012.
Sales of apartments in January 2014 increased 30.7% over January 2013 and increased 14.6% compared to January 2012.
Attached property sales in January 2014 increased 19.7% compared to January 2013 and a 6.9% increase since January 2012.

HERE ARE THE NORTH AND WEST VANCOUVER STATS

North Vancouver

Detached Benchmark Price $948,600
1 yr change 3.3%
3 yr change 12.3%
5 yr change 24.8%

Townhouse Benchmark Price $584,100
1 yr change 3.9%
3 yr change 6%
5 yr change 12.9%

Apartments Benchmark Price $352,900
1 yr change 3,5%
3 yr change 3.5%
5 yr change 15.4%

West Vancouver

Detached Benchmark Price $1,894,700
1 yr change 4.4%
3 yr change 24.4%
5 yr change 50.1%

Apartments Benchmark Price $482,300
1 yr change 4.8%
3 yr change 6.2%
5 yr change 20.6%