{"id":285,"date":"2015-12-03T07:00:45","date_gmt":"2015-12-03T15:00:45","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=285"},"modified":"2015-12-02T19:36:32","modified_gmt":"2015-12-03T03:36:32","slug":"nothing-can-stop-the-vancouver-housing-market-even-typically-slow-november","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2015\/12\/nothing-can-stop-the-vancouver-housing-market-even-typically-slow-november\/","title":{"rendered":"Nothing Can Stop the Vancouver Housing Market, Even Typically Slow November"},"content":{"rendered":"<p style=\"text-align: justify;\">Even during what is considered one of the slowest months of the year for real estate, Canada\u2019s most expensive housing market continued its torrid pace.<\/p>\n<p style=\"text-align: justify;\">The Real Estate Board of Greater Vancouver said it recorded 3,524 sales across the multiple listing service in November, a 40.1% increase from a year ago. Home sales were down 3.3% from 3,646 a month earlier.<\/p>\n<p style=\"text-align: justify;\">\u201cNovember is typically one of the quietest months of the year in our housing market, but not this year,\u201d said Darcy McLeod, president of the board. \u201cThe ratio of sales to homes available for sale reached 44% in November, which is the highest it\u2019s been in our market in 9 years.\u201d<\/p>\n<p style=\"text-align: justify;\">November sales were 46.2 per cent above the 10-year sales average for the month and the second highest ever for the month.<\/p>\n<p style=\"text-align: justify;\">Housing sales activity is soaking up supply in the market, with the total number of properties listed for sale on MLS at 8,096 just in November, a 35 per cent decline compared to a year ago and a 15.4% drop from a month earlier.<\/p>\n<p style=\"text-align: justify;\">The impact on prices has been obvious. The board\u2019s composite benchmark price for all residential properties in the Metro Vancouver area rose to $752,500, a 17.8% increase from a year ago.<\/p>\n<p style=\"text-align: justify;\">Detached properties, one of the most sought after commodities in the region\u2019s real estate market, led the way on price increases. Based on the board\u2019s benchmark index, a detached home is now $1,226,300, a 22.6% increase from a year ago.<\/p>\n<p style=\"text-align: justify;\">The average sale price of a detached home climbed to $1,579,170 in Vancouver in November.<\/p>\n<p><a href=\"http:\/\/business.financialpost.com\/personal-finance\/mortgages-real-estate\/nothing-can-stop-the-vancouver-housing-market-even-typically-slow-november\" target=\"_blank\">Nothing Can Stop the Vancouver Housing Market, Even Typically Slow November<\/a> by Garry Marr | Financial Post<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even during what is considered one of the slowest months of the year for real estate, Canada\u2019s most expensive housing market continued its torrid pace. The Real Estate Board of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2015\/12\/nothing-can-stop-the-vancouver-housing-market-even-typically-slow-november\/\">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-285","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>Nothing Can Stop the Vancouver Housing Market, Even Typically Slow November &#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\/12\/nothing-can-stop-the-vancouver-housing-market-even-typically-slow-november\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Nothing Can Stop the Vancouver Housing Market, Even Typically Slow November &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Even during what is considered one of the slowest months of the year for real estate, Canada\u2019s most expensive housing market continued its torrid pace. 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