News: Vancouver Real Estate Market

INCREASED HOME SALE ACTIVITY, DECREASED SUPPLY TO START 2020

According to the Real Estate Board of Greater Vancouver (REBGV), the residential home sales in the region hit 1,571 in January 2020. This is a 42.4% increase from the January 2019 sales of 1,103 and a 22.1% decrease from the December 2019 sales of 2,016.

The sales were at 7.3%, which was below the 10-year January sales average.

"We’ve begun 2020 with steady home buyer demand that tracks close to the region’s long-term average," Ashley Smith, REBGV president said. "Looking at supply, we’re seeing fewer homes listed for sale than is typical for this time of year. As we approach the traditionally more active spring market, we’ll keep a close eye on supply to see if the number of homes being listed is keeping pace with demand."

The sales-to-active listings ratio for January 2020 was 11.6% for detached homes, 22.6% for town homes, and 23.9% for apartments.The MLS® Home Price Index composite benchmark price for all residential homes in Metro Vancouver is currently $1,008,700. The benchmark price was $1,431,200 for detached properties, $663,200 for an apartment property, and $782,500 for attached units.

Detached homes in January 2020 reached 439 in sales, a 29.5% increase from the 339 detached sales recorded in January 2019. Apartment home sales for January 2020 reached 814, a 45.6% increase compared to the 559 sales in January 2019. Attached home sales for January 2020 totalled 318, a 55.1% increase compared to the 205 sales in January 2019.


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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.