Selling a home? MLS reported 3,646 sales; a 19.3% increase compared to October 2014 (3,057), and a 9% increase to September sales of this year (3,345). That’s 36.2% above the 10-year sales average for the month of October.

Buying a home? Patience, deep pockets, and the right realtor that knows the market and how to make an acceptable offer will ensure you a spot in the game. Darcy McLeod, Real Estate Board of Greater Vancouver’s president, said that “Home sales are more than one-third above what’s typical for this time of year, yet the supply of homes for sale is the lowest we’ve seen in five years.” That also indicates that when you do find the home of your dreams, having your financing lined-up and limited conditions can make all the difference.

The market at a glance:

October 2015 Active listings: 4,126
8% decline from the reported 4,487 active listings in October 2014

Total number of properties for sale: 9,569
30% decline from October 2014, and an 11.4% decline from September 2015

Sales-to-Active-Listings ratio: 38.1%
Benchmark price for all residential properties in Metro Vancouver is $736,000

15.3% increase from October 2014

Benchmark price for a detached property is $1,197,600
20.1% increase from October 2014

Detached property sales totaled 1,437
13.1% increase from October 2014’s 1,271 sales

Benchmark price for an apartment property is $425,800
11.4% increase from October 2014

Apartment property sales totaled 1,543
21.7% increase from October 2014’s 1,268 sales

Benchmark price for an attached unit is $526,700
9.3% increase from October 2014

Attached property sales totaled 666
28.6% increase from October 2014’s 518 sales

The Greater Vancouver Area’s market is in the home seller's favour as residential property sales numbers continue their steady climb. For a complete comparison, visit rebgv.org. Want to sell, buy, or require a consultation? Call us at 604-657-7936 or email Andrew at andrew@andrewhasman.com!

*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: Jennifer C.)

As a key economic driver in BC, the real estate market is happily humming along in our fair city. There was a 14.5% increase in residential property sales this September; 3,345 compared to the 2,922 sales reported in September 2014. This is only a slight 0.5% decrease to August 2015 sales.

Let’s review the Real Estate Board of Greater Vancouver’s September Stats as a big picture. Knowing where your homes stands in the grand scheme of Vancouver’s market will help you prepare to sell it, or know what’s a good buy and what isn’t. 

September sales were 32.9% above the 10-year average, even though the total number of properties for sale listed on MLS® was 27% less than September 2014, and .8% less than August 2015.

Sales-to-Active-Listings ratio: 31%

Benchmark price for all residential properties in Metro Vancouver is $722,300

A 13.7% increase from September 2014

Detached property sales totaled 1,272; a 0.2% increase from September 2014
Benchmark price for a detached property is $1,179,700

Apartment property sales totaled 1,529; a 28.7% increase from September 2014
Benchmark price for an apartment property is $415,100

Attached property sales totaled 544; a 17.2% increase from September 2014
Benchmark price for an attached unit is $518,600

(Photo: Alex Costin)