Vancouver Real Estate May Report


The Real Estate Board of Greater Vancouver released their May numbers, which show no signs of slowing. Though they’re still being outpaced by home buyer demand, sellers are increasing their activity to the point where sales were 35.3% above the 10-year sales average for the month -- the highest sales on record for May.


There were 4,769 residential property sales listed on MLS®, a 17.6% increase from May 2015 and only a marginal 0.3% decline from April this year. REBGV president Dan Morrison attributes sales to our strong economy. “Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity,” Morrison said. The result: more record-breaking numbers.


May 2016 By The Numbers:

New Listings (detached, attached, and apartment): 6,289

11.5% increase from May 2015

2.6% decrease from April 2016


Total Active listings on MLS®: 7,726

37.3% decline from May 2015

2.3% increase from April 2016


Sales-to-Active-Listings ratio: 61.7%


Benchmark price for all residential properties: $889,100

29.7% increase from May 2015


Benchmark price for a detached property is $1,513,800

36.9% increase from May 2015


Detached property sales totaled 1,865

8.2% increase from May 2015


Benchmark price for an apartment property is $485,000

22.3% increase from May 2015


Apartment property sales totaled 2,150

34.4% increase from May 2015


Benchmark price for an attached unit is $632,400

24.9% increase from May 2015


Attached property sales totaled 754

2.9% increase from May 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.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), 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 GVR, 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 GVR, the FVREB or the CADREB.