News: Vancouver Real Estate Market

Strong sales close out the 2019 real estate market

Residential home sales in the region totalled 2016 in December 2019, an 88.1% increase from the 1,072 sales recorded in Dec 2018, and a 19.3% decrease from the 2,498 homes sold in November 2019.

Vancouver real estate sales in December 2019

Last month’s sales were 9.5% above the 10-year Dec sales average.

There were 1,588 detached, attached and apartment properties newly listed for sale on the MLS® in Metro Vancouver in Dec 2019. This represents a 12.9% increase compared to the 1,407 homes listed in Dec 2018 and a 46.8% decrease compared to November 2019 when 2,987 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,603, a 16.3% decrease compared to Dec 2018 (10,275) and a 20.1% decrease compared to November 2019 (10,770).

For all property types, the sales-to-active listings ratio for Dec 2019 is 23.4%. By property type, the ratio is 15.2% for detached homes, 25.7% for townhomes, and 32.5% for apartments.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12% for a sustained period, while home prices often experience upward pressure when it surpasses 20% over several months.

Sales of detached homes in Dec 2019 reached 599, a 72.1% increase from the 348 detached sales recorded in Dec 2018. The benchmark price for detached properties is $1,423,500. This represents a four% decrease from Dec 2018, and a 0.6% increase compared to November 2019.

Sales of apartment homes reached 1,053 in Dec 2019, a 96.8% increase compared to the 535 sales in Dec 2018. The benchmark price of an apartment property is $656,700. This represents a 2.7% decrease from Dec 2018, and a 0.8% increase compared to November 2019.

Attached home sales in Dec 2019 totalled 364, a 92.6% increase compared to the 189 sales in Dec 2018. The benchmark price of an attached home is $778,400. This represents a 2.4% decrease from Dec 2018, and a 0.7% increase compared to November 2019.

For more information please view the complete news release.

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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.