{"id":239,"date":"2015-05-15T00:00:04","date_gmt":"2015-05-15T00:00:04","guid":{"rendered":"http:\/\/www.chrisbrownrealestate.ca\/blog\/?p=239"},"modified":"2015-05-15T00:03:21","modified_gmt":"2015-05-15T00:03:21","slug":"home-buyer-demand-outpacing-supply-across-the-metro-vancouver-housing-market","status":"publish","type":"post","link":"https:\/\/www.chrisbrownrealestate.ca\/blog\/home-buyer-demand-outpacing-supply-across-the-metro-vancouver-housing-market\/","title":{"rendered":"REBGV Stats April 2015: Home buyer demand outpacing supply across the Metro Vancouver"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/MWlhpVBDvLI\" width=\"853\" height=\"480\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p class=\"p1\"><span class=\"s1\">Strong home buyer demand coupled with below average home listing activity has created seller&#8217;s market conditions within the Metro Vancouver* housing market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Metro Vancouver reached 4,179 on the Multiple Listing Service\u00ae (MLS\u00ae) in April 2015. This represents a 37 per cent increase compared to the 3,050 sales recorded in April 2014, and a 2.9 per cent increase compared to the 4,060 sales in March 2015.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Last month\u2019s sales were 29.3 per cent above the 10-year sales average for the month.<\/span><\/p>\n<p class=\"p1\"><strong><span class=\"s1\">\u201cThe supply of homes for sale today in the region is not meeting the demand we&#8217;re seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market,&#8221; Darcy McLeod, REBGV president said.<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,897 in April. This represents a 0.9 per cent decrease compared to the 5,950 new listings reported in April 2014.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The total number of properties currently listed for sale on the region\u2019s MLS\u00ae is 12,436, a 19.8 per cent decline compared to April 2014 and an increase of 0.5 per cent compared to March 2015.<\/span><\/p>\n<p class=\"p1\"><strong><span class=\"s1\">\u201cIt\u2019s a competitive and fast-moving market today that is tilted in favour of home sellers. To be competitive, it\u2019s important to connect with a local REALTOR\u00ae who can help you develop a strategy to meet your home buying or selling needs,\u201d McLeod said.\u00a0<\/span><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">The MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $673,000. This represents an 8.5 per cent increase compared to April 2014.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The sales-to-active-listings ratio in April was 33.6 per cent. This is the highest that this ratio has been in Metro Vancouver since June 2007.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sales of detached properties in April 2015 reached 1,815, an increase of 35.9 per cent from the 1,336 detached sales recorded in April 2014, and a 70.6 per cent increase from the 1,064 units sold in April 2013. The benchmark price for a detached property in Metro Vancouver increased 12.5 per cent from April 2014 to $1,078,900.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Sales of apartment properties reached 1,579 in April 2015, an increase of 34.7 per cent compared to the 1,172 sales in April 2014, and an increase of 50.1 per cent compared to the 1,052 sales in April 2013. The benchmark price of an apartment property increased 4.4 per cent from April 2014 to $394,200.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Attached property sales in April 2015 totalled 785, an increase of 44.8 per cent compared to the 542 sales in April 2014, and a 53.6 per cent increase from the 511 attached properties sold in April 2013. The benchmark price of an attached unit increased 5.7 per cent between April 2014 and 2015 to $493,300.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\"><i>*Note: Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.<\/i><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe supply of homes for sale today in the region is not meeting the demand we&#8217;re seeing from home buyers. This is putting upward pressure on prices, particularly in the detached home market,&#8221; Darcy McLeod, REBGV president said. \u201cIt\u2019s a competitive and fast-moving market today that is tilted in favour of home sellers.<\/p>\n","protected":false},"author":2,"featured_media":242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[10,11],"tags":[44,40,92,91],"class_list":["post-239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-statistics","category-rebgv","tag-lonsdale","tag-north-vancouver","tag-real-estate-board-of-greater-vancouver","tag-sellers-market"],"_links":{"self":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/239"}],"collection":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/comments?post=239"}],"version-history":[{"count":5,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/239\/revisions"}],"predecessor-version":[{"id":245,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/posts\/239\/revisions\/245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/media\/242"}],"wp:attachment":[{"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/media?parent=239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/categories?post=239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbrownrealestate.ca\/blog\/wp-json\/wp\/v2\/tags?post=239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}