Blog › December 2014

Vancouver Real Estate News, December 2014. VIDEO BLOG


Home buyers in Metro Vancouver remained active in November, a month that is traditionally a quieter time of year for real estate.

The Real Estate Board of Greater Vancouver reports that residential property sales in Metro Vancouver reached 2,516 on the Multiple Listing Service® (MLS®) in Nov 2014. This represents an 8.4% increase compared to the 2,321 sales in November 2013, and a 17.7% decline compared to the 3,057 sales in October 2014.
Last month’s sales were 6.9 per cent above the 10-year sales average for November.

It’s been a more active fall than we typically see in the Metro Vancouver housing market. Home prices across the region have experienced steady gains in 2014 of between three and seven per cent depending on property type.

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 3,016 in November. This represents a 7.1% decrease compared to the 3,245 new listings in November 2013 and a 32.8% decline from the 4,487 new listings in October.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,553, a 10.2 per cent decline compared to November 2013 and a 9.4 per cent decrease compared to October 2014.

This is traditionally a low inventory time of year, so it’s a good time to list your home for sale if you want to face less competition in the marketplace. 
  
The Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,300. This represents a 5.7% increase compared to 2014.

Sales of detached properties in November 2014 reached 1,012, an increase of 9.3 per cent from the 926 detached sales recorded in November 2013, and a 60.9 per cent increase from the 629 units sold in November 2012. The benchmark price for detached properties increased 7.9 per cent from November 2013 to $997,800.

Sales of apartment properties reached 1,052 in November 2014, an increase of 8.6 per cent compared to the 969 sales in November 2013, and a 40.3 per cent increase compared to the 750 sales in November 2012. The benchmark price of an apartment property increased 3.2 per cent from November 2013 to $379,500.

Attached property sales in November 2014 totalled 452, a 6.1 per cent increase compared to the 426 sales in November 2013, and a 47.2 per cent increase over the 307 attached properties sold in November 2012. The benchmark price of an attached unit increased 4.8 per cent between November 2013 and 2014 to $480,200.

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Recently Sold Listing # 107 209 E 6TH ST, North Vancouver, British Columbia


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Recently Sold Listing 33 1255 RIVERSIDE DR, Port Coquitlam, Port Coquitlam, BC


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Recently Sold Listing 404 - 202 Mowat Street, New Westminster, British Columbia


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Recently Sold Listing 107 - 1210 W 8th Ave, Vancouver, British Columbia


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