Tim & Sharon Rohwer

Blog › October 2013

Balanced conditions continue in the Greater Vancouver housing market

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013.

The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011. The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011. The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012. 
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Recently Sold Listing 7 - 2450 161a Street, Surrey, British Columbia


F1401075 - 7 - 2450 161a Street, Surrey, British Columbia, CANADAI have just recently sold this listing at 7 - 2450 161a Street, Surrey.

Recently Sold Listing 24 - 6588 Barnard Drive, Richmond, British Columbia


V1031304 - 24 - 6588 Barnard Drive, Richmond, British Columbia, CANADAI have just recently sold this listing at 24 - 6588 Barnard Drive, Richmond.

New Listing 7 - 2450 161a Street, Surrey, British Columbia


F1323454 - 7 - 2450 161a Street, Surrey, British Columbia, CANADAView my new listing for sale at 7 - 2450 161a Street, Surrey and currently listed at 375000.

Enjoy the view and sunsets from your "better than new" townhome at the Glenmore in Morgan Heights. This bright home shows beautifully & features custom built-ins, 9 foot ceilings, floor to ceiling windows, composite stone countertops, and your own private west facing garden or yard! Single garage and a parking space in your driveway for your second car, as well as loads of additional parking for guests. This community boasts an amazing recreation center with pool, hot tub, hockey arena, yoga studio, gym, and theatre. Right next to Morgan Crossing for all your shopping needs.

See the Pixilink 360° Virtual Tour for this listing

New Listing 7 - 2450 161a Street, Surrey, British Columbia


F1401075 - 7 - 2450 161a Street, Surrey, British Columbia, CANADAView my new listing for sale SOLD at 7 - 2450 161a Street, Surrey and currently listed at $368,800.SOLD

Enjoy the view and sunsets from your "better than new" townhome at the Glenmore in Morgan Heights. This bright home shows beautifully and features custom built-ins, 9 foot ceilings, floor to ceiling windows, composite stone countertops, and stainless steel appliances. 2 bedrooms, 2 bathrooms, a den and your own private west facing garden. Single garage and a parking space in your driveway for your second car, as well as loads of additional parking for guests. This community boasts an amazing recreation center with pool, hot tub, hockey arena, yoga studio, gym and theatre. Right next to Morgan Crossing for all your shopping needs.

See the Pixilink 360° Virtual Tour for this listing

New Listing 24 - 6588 Barnard Drive, Richmond, British Columbia


V1031304 - 24 - 6588 Barnard Drive, Richmond, British Columbia, CANADAView my new listing for sale SOLD at 24 - 6588 Barnard Drive, Richmond and currently listed at $488,800.SOLD

Camberly by Polygon in Terra Nova. Rarely found bright South facing exposure with private fenced yard perfect for families and pets. A custom updated 2 bedroom, 2 bath townhouse with 9' ceilings, new flooring, upgraded high-end appliances, california shutters and potential to add another room (den/family room) down. Extremely well kept in move in condition. Don't forget to enjoy the Clubhouse facilities with outdoor swimming pool and gym. Walking distance to schools, public transportation and shopping.

See the Pixilink 360° Virtual Tour for this listing

Recently Sold Listing 85 Glenmore Drive, West Vancouver, British Columbia


V1030079 - 85 Glenmore Drive, West Vancouver, British Columbia, CANADAI have just recently sold this listing at 85 Glenmore Drive, West Vancouver.

New Listing 85 Glenmore Drive, West Vancouver, British Columbia


V1030079 - 85 Glenmore Drive, West Vancouver, British Columbia, CANADAView my new listing for sale SOLD at 85 Glenmore Drive, West Vancouver and currently listed at $1,145,000.SOLD

This is a massive 1/3 acre lot, situated at the top of Glenmore on the North-side overlooking the ocean. Retro-contemporary design with small, but bright kitchen, with warm natural light. Gorgeous hardwood floors, A.C.,new appliances & an open bright living room,featuring Hunter-Douglas blinds,floor-to-ceiling windows with views of Grouse Mountain. Beautiful, SW exposure with a small ocean view, that could turn into a 60 deg gorgeous ocean view, on the rebuild.This property has huge residual value. If you build a 4500 sq/ft Ocean & Mtn view home, the property could sell for $3 million. Just a hop, skip & jump from Collingwood Middle & Senior School. In Sentinel Catchment too.