Home buyer demand has returned to\nmore historically typical levels in Metro Vancouver over the last three months.<\/p>\n\n\n\n
The Real\nEstate Board of Greater Vancouver (REBGV) reports that residential home sales\nin the region totalled 2,333 in September 2019, a 46.3 per cent increase from\nthe 1,595 sales recorded in September 2018, and a 4.6 per cent increase from\nthe 2,231 homes sold in August 2019.<\/p>\n\n\n\n
Last\nmonth\u2019s sales were 1.7 per cent below the 10-year September sales average.<\/p>\n\n\n\n
\u201cWe\u2019re\nseeing more balanced housing market conditions over the last three months\ncompared to what we saw at this time last year,\u201d Ashley Smith, REBGV president\nsaid. \u201cHome buyers are more willing to make offers today, particularly in the\ntownhome and apartment markets.\u201d<\/p>\n\n\n\n
There\nwere 4,866 detached, attached and apartment properties newly listed for sale on\nthe Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in September 2019. This\nrepresents a 7.8 per cent decrease compared to the 5,279 homes listed in\nSeptember 2018 and a 29.9 per cent increase compared to August 2019 when 3,747\nhomes were listed.<\/p>\n\n\n\n
The total\nnumber of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver\nis 13,439, a 2.7 per cent increase compared to September 2018 (13,084) and a\n0.3 per cent increase compared to August 2019 (13,396).<\/p>\n\n\n\n
For all property types, the sales-to-active listings ratio for September 2019 is 17.4 per cent. By property type, the ratio is 12.7 per cent for detached homes, 18.9 per cent for townhomes, and 21.9 per cent for apartments.<\/p>\n\n\n\n
Generally, analysts say that\ndownward pressure on home prices occurs when the ratio dips below 12 per cent\nfor a sustained period, while home prices often experience upward pressure when\nit surpasses 20 per cent over several months.<\/p>\n\n\n\n
\u201cThis is\na more comfortable market for people on both sides of a real estate\ntransaction,\u201d said Smith. \u201cHome sale and listing activity were both at typical\nlevels for our region in September.\u201d<\/p>\n\n\n\n
The MLS\u00ae\nHome Price Index composite benchmark price for all residential homes in Metro\nVancouver is currently $990,600. This represents a 7.3 per cent decrease over\nSeptember 2018 and a 0.3 per cent decrease compared to August 2019.<\/p>\n\n\n\n
Sales of\ndetached homes in September 2019 reached 745, a 46.7 per cent increase from the\n508 detached sales recorded in September 2018. The benchmark price for a\ndetached home is $1,406,200. This represents an 8.6 per cent decrease from\nSeptember 2018 and is virtually unchanged compared to August 2019.<\/p>\n\n\n\n
Sales of\napartment homes reached 1,166 in September 2019, a 43.6 per cent increase\ncompared to the 812 sales in September 2018. The benchmark price of an\napartment property is $651,500. This represents a 6.5 per cent decrease from\nSeptember 2018 and a 0.4 per cent decrease compared to August 2019.<\/p>\n\n\n\n
Attached home sales in September 2019 totalled 422, a 53.5 per cent increase compared to the 275 sales in September 2018. The benchmark price of an attached home is $767,500. This represents a 7.2 per cent decrease from September 2018 and a 0.6 per cent decrease compared to August 2019.<\/p>\n\n\n\n
Download the September 2019 stats package<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Home buyer demand has returned to more historically typical levels in Metro Vancouver over the last three months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential home … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13,73],"tags":[49,206,248,222,186,156,138,230,113,155,137,123,195,116,61],"_links":{"self":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/843"}],"collection":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/comments?post=843"}],"version-history":[{"count":1,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/843\/revisions"}],"predecessor-version":[{"id":844,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/posts\/843\/revisions\/844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/media\/427"}],"wp:attachment":[{"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/media?parent=843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/categories?post=843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.joshmulherin.com\/blog\/wp-json\/wp\/v2\/tags?post=843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}