Real Estate Latest News

Back to Blog

January 2016 is the second highest start to the year on record with sales 46% above the 10-year average for the month. Low supply and record-breaking buyer demand is still the driving force in the real estate market.


The total number of residential sales in the Greater Vancouver area totalled 2,519 for the month; a 31.7% increase from the 1,913 sales in January 2015. It was only a slight, 10.9% decline from the 2,827 sales in December 2015.


Real Estate Board of Greater Vancouver’s president Darcy McLeod touts the importance of listing your home with MLS® to ensure maximum exposure. For home buyers, MLS®  is the second greatest tool next to an excellent realtor. With so much competition out there, keeping a constant eye on MLS®  gives buyers the best chance to snapping up the home of their dreams.


2016 Opening Numbers:

New Listings (detached, attached, and apartment) in January: 4,442
6.2% decline from January 2015

119.8% increase from December 2015


Total Active listings on MLS®: 6,635
38.6% decline from January 2015
10.1% increase from December 2015


Sales-to-Active-Listings ratio: 38%

Benchmark price for a detached property is $1,293,700
27.9% increase from January 2015


Detached property sales totaled 1,047
34.1% increase from January 2015


Benchmark price for an apartment property is $456,600
19.4% increase from January 2015


Apartment property sales totaled 1,096
35.5% increase from January 2015


Benchmark price for an attached unit is $563,700
16.4% increase from January 2015


Attached property sales totaled 376
16.4% increase from January 2015


For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Contact me 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.


(Photo: explore604)