February Update

(March 03, 2015 )

Home Buyer and seller activity outpaces historical averages in February


Market conditions in Metro Vancouver continue to strengthen in February as home sale and listing totals came in well above the regions 10 year average for the month.

The Real Estate Board of Greater Vancouver reports that residential property sales increased 21% compared to February 2014.

Last months sales were 20.2% above the 10 year average.

It's an active and competitive marketplace.  Buyers are motivated and homes that are priced competitively are selling at a brisk pace right now. 

Although the listing count was 11.8% higher than the 10 year average. The total number of properties currently listed for sale on the REBGV MLS are down 11.3% compared to last year. 

The sales-to-active-listings ratio in February was 25.7%, the highest its been since March 2011.

NORTH VANCOUVER

Detached Homes
Benchmark Price $1,065,400
1yr change +12.1%
3yr change +11.8%
5yr change +22.2%

Townhouse
Benchmark Price $612,900
1yr change +4%
3yr change +2.8%
5yr change +6.2%

Apartments
Benchmark Price $362,400
1yr change +4.6%
3yr change +5.2%
5yr change +4.9%

WEST VANCOUVER

Detached Homes
Benchmark Price $2,096,400
1yr change +9.9%
3yr change +13.8%
5yr change +41.5%

Apartments
Benchmark Price $660,500
1yr change +13%
3yr change +7%
5yr change 5.3%