{"id":117,"date":"2015-11-02T08:55:23","date_gmt":"2015-11-02T16:55:23","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=117"},"modified":"2015-11-13T09:06:46","modified_gmt":"2015-11-13T17:06:46","slug":"metro-vancouver-home-buyers-push-october-sales-above-long-term-averages","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2015\/11\/metro-vancouver-home-buyers-push-october-sales-above-long-term-averages\/","title":{"rendered":"Metro Vancouver Home Buyers Push October Sales Above Long-Term Averages"},"content":{"rendered":"<p style=\"text-align: justify;\">Home buyers remain active across Metro Vancouver despite a reduced supply of homes for sale.<\/p>\n<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in *Metro Vancouver reached 3,646 on the Multiple Listing Service\u00ae (MLS\u00ae) in October 2015. This represents a 19.3% increase compared to the 3,057 sales recorded in October 2014, and a 9% increase compared to the 3,345 sales in September 2015.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales were 36.2% above the 10-year sales average for the month.<\/p>\n<p style=\"text-align: justify;\">\u201cHome sales are more than one-third above what\u2019s typical for this time of year yet the supply of homes for sale is the lowest we\u2019ve seen in five years,\u201d Darcy McLeod, REBGV president said. \u201cThis activity has created favourable market conditions for anyone considering selling their home today.\u201d<\/p>\n<p style=\"text-align: justify;\">New listings for detached, attached and apartment properties in Metro Vancouver totalled 4,126 in October. This represents an 8% decline compared to the 4,487 new listings reported in October 2014.<\/p>\n<p style=\"text-align: justify;\">The total number of properties listed for sale on the real estate board\u2019s MLS\u00ae is 9,569, a 30% decline compared to October 2014 and an 11.4% decline compared to September 2015.<\/p>\n<p style=\"text-align: justify;\">This is the lowest active listing total in Metro Vancouver since December 2010.<\/p>\n<p style=\"text-align: justify;\">The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $736,000. This represents a 15.3% increase compared to October 2014.<\/p>\n<p style=\"text-align: justify;\">The sales-to-active-listings ratio in October was 38.1%. Generally, analysts say that downward pressure on home prices occurs when the ratio declines below the 12% mark, while home prices often experience upward pressure when it reaches 20%, or higher, in a particular community for a sustained period of time.<\/p>\n<p style=\"text-align: justify;\">Sales of detached properties in October 2015 reached 1,437, an increase of 13.1% from the 1,271 detached sales recorded in October 2014, and a 34.7% increase from the 1,067 units sold in October 2013. The benchmark price for a detached property in Metro Vancouver increased 20.1% from October 2014 to $1,197,600.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment properties reached 1,543 in October 2015, an increase of 21.7% compared to the 1,268 sales in October 2014, and an increase of 40.5 per cent compared to the 1,098 sales in October 2013. The benchmark price of an apartment property increased 11.4% from October 2014 to $425,800.<\/p>\n<p style=\"text-align: justify;\">Attached property sales in October 2015 totalled 666, an increase of 28.6% compared to the 518 sales in October 2014, and a 34.3% increase from the 496 attached properties sold in October 2013. The benchmark price of an attached unit increased 9.3% between October 2014 and 2015 to $526,700.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.rebgv.org\/news-statistics\/metro-vancouver-home-buyers-push-october-sales-above-long-term\" target=\"_blank\">Metro Vancouver Home Buyers Push October Sales Above Long-Term Averages<\/a> by REBGV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home buyers remain active across Metro Vancouver despite a reduced supply of homes for sale. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in *Metro &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2015\/11\/metro-vancouver-home-buyers-push-october-sales-above-long-term-averages\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-117","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Home Buyers Push October Sales Above Long-Term Averages &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2015\/11\/metro-vancouver-home-buyers-push-october-sales-above-long-term-averages\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver Home Buyers Push October Sales Above Long-Term Averages &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home buyers remain active across Metro Vancouver despite a reduced supply of homes for sale. 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