August Stats for Greater Vancouver
August activity in the Greater Vancouver housing market finished well above last year’s pace and slightly below the 10-year average for the month.
There was a 52.5 per cent increase in sales compared to August 2012, and last month’s sales were 4.6 per cent below the 10-year sales average for the month.
“We’ve seen a healthy amount of demand in the marketplace this summer compared to the number of homes listed for sale,” Sandra Wyant, REBGV president said. “The market today is much stronger than we saw last year and is consistent with our long-term averages for this time of year.”
The sales-to-active-listings ratio currently sits at 15.7 per cent in Greater Vancouver. This ratio remains consistent with balanced market conditions.
“People entering the market should not confuse stronger sales activity with rising prices. Home prices have been quite stable and consistent for much of this year,” Wyant said.
The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,500. This represents a 1.3 per cent decline compared to August 2012 and an increase of 2.3 per cent since the beginning of 2013 ...
For the complete August Sales Stats click here : REBGVStats_2013_08.pdf
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