{"id":2588,"date":"2016-07-05T10:10:35","date_gmt":"2016-07-05T17:10:35","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=2588"},"modified":"2016-07-05T10:36:38","modified_gmt":"2016-07-05T17:36:38","slug":"home-buyers-remain-active-across-metro-vancouver","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/07\/home-buyers-remain-active-across-metro-vancouver\/","title":{"rendered":"Home Buyers Remain Active Across Metro Vancouver"},"content":{"rendered":"<p style=\"text-align: justify;\">Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market.<br \/>\nResidential property sales in the region totalled 4,400 in June 2016, an increase of 0.6% from the 4,375 sales recorded in June 2015 and a decrease of 7.7% compared to May 2016 when 4,769 homes sold.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales were 28.1% above the 10-year sales average for the month and rank as the highest selling June on record.<br \/>\n&#8220;While we&#8217;re starting to see more properties coming onto the market in recent months, the imbalance between supply and demand continues to influence market conditions,&#8221; Dan Morrison REBGV president said.<\/p>\n<p style=\"text-align: justify;\">New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,875 in June 2016. This represents an increase of 1.2% compared to the 5,803 units listed in June 2015 and a 6.6% decrease compared to May 2016 when 6,289 properties were listed.<\/p>\n<p style=\"text-align: justify;\">\u201cSince March, we\u2019ve seen more homes listed for sale in our market than in any other four-month period this decade,\u201d Morrison said.<br \/>\nThe total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 7,812, a 35.9% decline compared to June 2015 (12,181) and a 1.1% increase compared to May 2016 (7,726).<\/p>\n<p style=\"text-align: justify;\">The sales-to-active listings ratio for June 2016 is 56.3%. While clearly indicative of a seller\u2019s market, this is the lowest this measure has been since February.<\/p>\n<p style=\"text-align: justify;\">Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark, while home prices often experience upward pressure when it reaches the 20 to 22 percent range in a particular community for a sustained period of time.<\/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 $917,800. This represents a 32.1% increase compared to June 2015.<\/p>\n<p style=\"text-align: justify;\">Sales of detached properties in June 2016 reached 1,562, a decrease of 18.6% from the 1,920 detached sales recorded in June 2015. The benchmark price for detached properties increased 38.7% from June 2015 to $1,561,500.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment properties reached 2,108 in June 2016, an increase of 18.8% compared to the 1,774 sales in June 2015.The benchmark price of an apartment property increased 25.3% from June 2015 to $501,100.<\/p>\n<p style=\"text-align: justify;\">Attached property sales in June 2016 totalled 730, an increase of 7.2% compared to the 681 sales in June 2015. The benchmark price of an attached unit increased 28.1% from June 2015 to $656,900.<\/p>\n<p><a href=\"http:\/\/www.rebgv.org\/sites\/default\/files\/6.%20REBGV%20Stats%20Pkg%20June%202016.pdf\" target=\"_blank\">Click here<\/a> to view the complete stats package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market. Residential property sales in the region totalled 4,400 in June 2016, an increase of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/07\/home-buyers-remain-active-across-metro-vancouver\/\">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-2588","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>Home Buyers Remain Active Across Metro Vancouver &#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\/2016\/07\/home-buyers-remain-active-across-metro-vancouver\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Home Buyers Remain Active Across Metro Vancouver &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home buyers continue to compete for homes listed for sale across the Metro Vancouver housing market. 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