Was it a typical year for the Metro Vancouver housing market? The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased.
Total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 % increase from the 28,524 sales recorded in 2013, and a 32.3 % increase over the 25,032 residential sales in 2012.
The total number of residential properties listed for sale on MLS® in Metro Vancouver increased 2.4 % in 2014 to 56,066 compared to the 54,742 properties listed in 2013. Looking back further, last year’s total represents a four per cent decline compared to the 58,379 residential properties listed for sale in 2012.
While home buyer and seller activity created balanced market conditions within the region, we also experienced some upward pressure on home prices over the course of the year.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 %increase compared to December 2013.
“Detached homes continue to be the most sought after property type in our market,” Harris, said. “Detached homes in Metro Vancouver have increased 8.1 per cent in value over the last 12 months while townhome and condominium properties have increased 4.5 and 3.5 per cent over the same period.”
December 2014 summary
Residential property sales in Greater Vancouver totalled 2,116 in December 2014, an increase of 8.3 per cent from the 1,953 sales recorded in December 2013 and a 15.9 per cent decline compared to November 2014 when 2,516 home sales occurred.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,888 in December 2014. This represents a 1.7 per cent increase compared to the 1,856 units listed in December 2013 and a 37.4 per cent decline compared to November 2014 when 3,016 properties were listed.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 10,320, a 10.7 per cent decline compared to December 2013 and a 17.8 per cent decrease compared to November 2014.
Sales of houses in Greater Vancouver area in December 2014 reached 833, an increase of 9.3 per cent from the 762 detached sales recorded in December 2013. The benchmark price for homes increased 8.1 per cent from December 2013 to $1,002,200.
Sales of apartment properties in Greater Vancouver, Canada reached 912 in December 2014, an increase of 7.3 per cent compared to the 850 sales in December 2013.The benchmark price of an apartment property increased 3.5 per cent from December 2013 to $380,700.
Attached property sales in Greater Vancouver, Canada in December 2014 totalled 371, an increase of 8.8 per cent compared to the 341 sales in December 2013. The benchmark price of an attached unit increased 4.5 per cent between December 2013 and 2014 to $476,800.
Download the complete stats package by clicking here.
all information has been provided by real estate board of Greater Vancouver