{"id":6093,"date":"2017-06-02T08:28:06","date_gmt":"2017-06-02T15:28:06","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6093"},"modified":"2017-06-02T08:28:48","modified_gmt":"2017-06-02T15:28:48","slug":"rebgv-market-activity-picks-up-in-may","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/","title":{"rendered":"REBGV Market Activity Picks Up in May"},"content":{"rendered":"<p style=\"text-align: justify;\">Home buyer activity returned to near record levels across the Metro Vancouver housing market in May.<\/p>\n<p style=\"text-align: justify;\">Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5% from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8% compared to April 2017 when 3,553 homes sold.<\/p>\n<p style=\"text-align: justify;\">Last month\u2019s sales were 23.7% above the 10-year May sales average and is the third-highest selling May on record.<\/p>\n<p style=\"text-align: justify;\">&#8220;Demand for condominiums and townhomes is driving today\u2019s activity,&#8221; Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. \u201cFirst-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.\u201d<\/p>\n<p style=\"text-align: justify;\">New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,044 in May 2017. This represents a 3.9% decrease compared to the 6,289 units listed in May 2016 and a 23.2% increase compared to April 2017 when 4,907 homes were listed.<\/p>\n<p style=\"text-align: justify;\">The month-over-month increase in new listings was led by detached homes at 27.1%, followed by apartments at 22.7% and townhomes at 14.1%.<\/p>\n<p style=\"text-align: justify;\">The total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 8,168, a 5.7% increase compared to May 2016 (7,726) and a 4.5% increase compared to April 2017 (7,813).<\/p>\n<p style=\"text-align: justify;\">&#8220;Home buyers are beginning to have more selection to choose from in the detached market, but the number of condominiums for sale continues to decline,&#8221; Oudil said.<\/p>\n<p style=\"text-align: justify;\">The sales-to-active listings ratio across all residential categories is 53.4%. By property type, the ratio is 31% for detached homes, 76.1% for townhomes, and 94.6% for condominiums.<\/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 for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile sales are inching closer to the record-breaking pace of 2016, the market itself looks different. Sales last year were driven by demand for single-family homes. This year, it&#8217;s clear that townhomes and condominiums are leading the way,\u201d said Oudil. \u201cIt\u2019s important to work with your local REALTOR\u00ae to understand the different factors affecting the market today.\u201d<\/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 $967,500. This represents an 8.8% increase over May 2016 and a 2.8% increase compared to April 2017.<\/p>\n<p style=\"text-align: justify;\">Sales of detached properties in May 2017 reached 1,548, a decrease of 17% from the 1,865 detached sales recorded in May 2016. The benchmark price for a detached property is $1,561,000. This represents a 3.1% increase over May 2016 and a 2.9% increase compared to April 2017.<\/p>\n<p style=\"text-align: justify;\">Sales of apartment properties reached 2,025 in May 2017, a decrease of 5.8% compared to the 2,150 sales in May 2016.The benchmark price for an apartment property is $571,300. This represents a 17.8% increase over May 2016 and a 3.1% increase compared to April 2017.<\/p>\n<p style=\"text-align: justify;\">Attached property sales in May 2017 totalled 791, an increase of 4.9% compared to the 754 sales in May 2016. The benchmark price for an attached property is $715,400. This represents a 13.1% increase over May 2016 and a 1.9% increase compared to April 2017.<\/p>\n<p><a href=\"http:\/\/www.rebgv.org\/sites\/default\/files\/REBGV-Stats-Package-May-2017.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> for the full May 2017 stats package.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home buyer activity returned to near record levels across the Metro Vancouver housing market in May. Residential property sales in the region totalled 4,364 in May 2017, a decrease of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/\">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-6093","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>REBGV Market Activity Picks Up in May &#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\/2017\/06\/rebgv-market-activity-picks-up-in-may\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"REBGV Market Activity Picks Up in May &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home buyer activity returned to near record levels across the Metro Vancouver housing market in May. Residential property sales in the region totalled 4,364 in May 2017, a decrease of &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"REBGV Market Activity Picks Up in May\",\"datePublished\":\"2017-06-02T15:28:06+00:00\",\"dateModified\":\"2017-06-02T15:28:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/\"},\"wordCount\":482,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/\",\"name\":\"REBGV Market Activity Picks Up in May &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2017-06-02T15:28:06+00:00\",\"dateModified\":\"2017-06-02T15:28:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2017\\\/06\\\/rebgv-market-activity-picks-up-in-may\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"REBGV Market Activity Picks Up in May\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"REBGV Market Activity Picks Up in May &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/","twitter_card":"summary_large_image","twitter_title":"REBGV Market Activity Picks Up in May &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"Home buyer activity returned to near record levels across the Metro Vancouver housing market in May. Residential property sales in the region totalled 4,364 in May 2017, a decrease of &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"REBGV Market Activity Picks Up in May","datePublished":"2017-06-02T15:28:06+00:00","dateModified":"2017-06-02T15:28:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/"},"wordCount":482,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/","url":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/","name":"REBGV Market Activity Picks Up in May &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2017-06-02T15:28:06+00:00","dateModified":"2017-06-02T15:28:48+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2017\/06\/rebgv-market-activity-picks-up-in-may\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"REBGV Market Activity Picks Up in May"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/6093","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=6093"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/6093\/revisions"}],"predecessor-version":[{"id":6095,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/6093\/revisions\/6095"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=6093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=6093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=6093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}