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Imbalance Continues to Drive Market Stats


The Real Estate Board of Greater Vancouver’s June numbers are in, and it’s still clearly a seller’s market out there. “While we’re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,” said Dan Morrison, REBGV president.


While the sales-to-active listings ratio was lower last month than it has been since February, overall last month’s residential property sales were 28.1% above the 10-year sales average for June, totalling 4,400. It ranks as the highest selling June on record. “Since March, we’ve seen more homes listed for sale in our market than in any other four-month period this decade,” Morrison concluded.


June 2016 By The Numbers:


New Listings (detached, attached, and apartment): 5,875

1.2% increase from June 2015

6.6% decrease from May 2016


Total Active Listings on MLS®: 7,812

35.9% decline from June 2015

1.1% increase from May 2016


Sales-to-Active-Listings ratio: 56.3%


Benchmark price for all residential properties: $917,800

32.1% increase from June 2015


Benchmark price for a detached property: $1,561,500

38.7% increase from June 2015


Detached property sales: 1,562

18.6% decrease from June 2015


Benchmark price for apartment property: $501,100

25.3% increase from June 2015


Apartment property sales: 2,108

18.8% increase from June 2015


Benchmark price for an attached unit: $656,900

28.1% increase from June 2015


Attached property sales: 730

7.2% increase from June 2015


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*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.