Home sale and listing activity continue to chart a steady path for the region's housing market
March home sale in Greater Vancouver outpaced last year's total yet lagged the region's historical average for the month.
The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,641 - this represents 12.5% increase compared to March 2013 and a 4.4% increase over February 2014.
Last month sales were 17.2% below the 10 year average.
The sales-to-active listings ratio currently sits at 18.2% which is the same as last month.
There has been consistent balance between home seller supply and home buyer demand in our marketplace over the last year. We are seeing steady and stable market conditions across Greater Vancouver.
New listings for detached homes, townhomes and apartments are up 9.1% over 2013 and 5.9% below the region's 10year average.
The total number of properties currently listed for sale is 14,472 a 6.4% decline compared to March 2013.
Home prices in the region have experienced incremental gains in most areas and property types over the last 12 months. It's important to remember that this is a diverse marketplace and trends will vary depending on area and property type.
NORTH VANCOUVER STATS
Detached Homes Benchmark Price $966,200
1 year change +3.2%
3 year change +11.2%
5 year change +30.2%
Townhouse Benchmark Price $595,400
1year change +1.9%
3 year change +4.7%
5year change +17.7%
Apartment Benchmark Price $350,500
1year change +2.2%
3year change +2.2%
5year change +16.7%
WEST VANCOUVER STATS
Detached Home Benchmark Price $1,933,500
1year change +6.8%
3year change +20.2%
5year change +55.4%
Apartment Benchmark Price $602,800
1year change -1.6%
3year change +4.3%
5year change +8.2%