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)
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.