Metro Vancouver September Housing Report

Metro Vancouver September, 2019  Housing Report

Home buyer demand has returned to more historically typical levels in Metro Vancouver* over the last three months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3% compared to September 2018. Last month’s sales were 1.7% below the 10 years average.

The Metro Vancouver market were more balanced over the past 3 months compared to a similar period a year ago. Both townhouses and condos were seeign more buying activities.

Current Listings

- There were 4,866 total new listings (detached, attached and apartment) for the month - decline of 7.8% compared to a year ago.
- This epresented a 29.9% increase compared to August 2019.
- The toal numbr of homes listed for sale on the MLS® system in Metro Vancouver is 13,439.
- The sales-to-active listings ratio for all the properties combined was at 17.4%. By property type, the ratio was 12.7 % for detached homes, 18.9% for townhomes, and 21.9% for apartments.

Sales-toactive Listings Ratio

Detached homes12.7%

Total 17.4 %

Generally, over several months, downward pressure on home prices happens when the ratio dips below 12%, while at 20% or more, home prices often experience upward pressure.

MLS® Benchmark Home Price

- All residential homes in Metro Vancouver at $990,600 was 7.3% decline year-ovr-year.
- Detached home at $1,406,200 was 8.6% .
- Townhouses at $767,500 was 7.2% decline year-ovr-year
- Apartment property at $651,500 was 6.5 decline year-ovr-year

Note: Metro Vancouver Areas covered by the REBGV include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.