Home sale and price activity\nremained steady in Metro Vancouver to start 2020 while home listing\nactivity declined in January.<\/p>\n\n\n\n
The Real\nEstate Board of Greater Vancouver (REBGV) reports that residential home sales\nin the region totalled 1,571 in January 2020, a 42.4 per cent increase from the\n1,103 sales recorded in January 2019, and a 22.1 per cent decrease from the\n2,016 homes sold in December 2019.<\/p>\n\n\n\n
Last\nmonth\u2019s sales were 7.3 per cent below the 10-year January sales average.<\/p>\n\n\n\n
\u201cWe\u2019ve\nbegun 2020 with steady home buyer demand that tracks close to the region\u2019s\nlong-term average,\u201d Ashley Smith, REBGV president said. \u201cLooking at supply,\nwe\u2019re seeing fewer homes listed for sale than is typical for this time of year.\nAs we approach the traditionally more active spring market, we\u2019ll keep a close\neye on supply to see if the number of homes being listed is keeping pace with\ndemand.\u201d<\/p>\n\n\n\n
There\nwere 3,872 detached, attached and apartment properties newly listed for sale on\nthe Multiple Listing Service\u00ae (MLS\u00ae) in Metro Vancouver in January 2020. This\nrepresents a 20.1 per cent decrease compared to the 4,848 homes listed in\nJanuary 2019 and a 143.8 per cent increase compared to December 2019 when 1,588\nhomes were listed.<\/p>\n\n\n\n
Last\nmonth\u2019s new listings were 17.4 per cent below January\u2019s 10-year average.<\/p>\n\n\n\n
The total\nnumber of homes currently listed for sale on the MLS\u00ae system in Metro Vancouver\nis 8,617, a 20.3 per cent decrease compared to January 2019 (10,808) and a 0.2\nper cent increase compared to December 2019 (8,603), and is 13.7 per cent below\nthe 10-year January average.<\/p>\n\n\n\n
For all\nproperty types, the sales-to-active listings ratio for January 2020 is 18.2 per\ncent. By property type, the ratio is 11.6 per cent for detached homes, 22.6 per\ncent for townhomes, and 23.9 per cent for apartments.<\/p>\n\n\n\n
Generally,\nanalysts say downward pressure on home prices occurs when the ratio dips below\n12 per cent for a sustained period, while home prices often experience upward\npressure when it surpasses 20 per cent over several months.<\/p>\n\n\n\n
The MLS\u00ae\nHome Price Index composite benchmark price for all residential properties in\nMetro Vancouver is currently $1,008,700. This represents a 1.2 per cent\ndecrease over January 2019, a 1.4 per cent increase over the past six months,\nand a 0.8 per cent increase compared to December 2019.<\/p>\n\n\n\n
Sales of\ndetached homes in January 2020 reached 439, a 29.5 per cent increase from the\n339 detached sales recorded in January 2019. The benchmark price for detached\nproperties is $1,431,200. This represents a 1.7 per cent decrease from January\n2019, a one per cent increase over the past six months, and a 0.5 per cent\nincrease compared to December 2019.<\/p>\n\n\n\n
Sales of\napartment homes reached 814 in January 2020, a 45.6 per cent increase compared\nto the 559 sales in January 2019. The benchmark price of an apartment property\nis $663,200. This represents a one per cent decrease from January 2019, a 1.5\nper cent increase over the past six months, and a one per cent increase\ncompared to December 2019.\n\nAttached home sales\nin January 2020 totalled 318, a 55.1 per cent increase compared to the 205\nsales in January 2019. The benchmark price of an attached unit is $782,500.\nThis represents a 0.7 per cent decrease from January 2019, a 1.6 per cent\nincrease over the past six months, and a 0.5 per cent increase compared to\nDecember 2019.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
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