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Vancouver Real Estate Numbers - December 2013

Blog by | December 11th, 2013

The Real Estate Board of Greater Vancouver reports sales of 2,321 in November 2013 - a 38% increase compared to the 1,686 sales last year and a 13% decline compared to the 2,661 sales in October 2013.

Last month's sales were 1.2 per cent below the 10-year sales average for the month, while new listings were 1.5 per cent above the 10-year November average.

"We've seen steady and consistent trends in the Greater Vancouver housing market for much of this year," Sandra Wyant, REBGV president said. "This year's activity has resulted in gradual and modest increases in home prices of approximately one per cent over the last 12 months in the region."

New listings for detached, attached and apartment properties in Greater Vancouver totaled 3,245 in November. This represents a 17.7 per cent increase compared to the 2,758 new listings reported in November 2012.

Active Listings stand at 13,986, a 10.9 per cent decrease compared to November 2012.

The sales-to-active-listings ratio currently sits at 16.6 per cent in Greater Vancouver.

Sales of detached properties reached 926 in November 2013, an increase of 47.2 per cent from the anemic 629 detached sales recorded in November 2012.

Sales of apartment properties reached 969 in November 2013, an increase of 29 per cent compared to the 750 sales in November 2012, and a decline of 3 per cent compared to the 1,000 sales in November 2011.

Attached property sales in November 2013 totaled 426, an increase of 39 per cent compared to the 307 sales in November 2012, and a 4 per cent decline compared to the 444 attached properties sold in November 2011.

Vancouver average price = $768,500

Active Listings: 13,986

Average Used Detached House Price: $1,154,900

Average Used Condo Price: $443,000

Overall a much better month than November 2012 (which was the worst November in 9 years), still a tad lower than the numbers achieved in November 2011. The average price is better than both November 2012 and November 2011 ... but both detached (used) home prices and apartment (used) prices are much the same for the last 24 months. It is very good that we have recovered to within a hair of the 10-year average and that markets have gone sideways in most (but not all) areas.