Blog Topic
- > Vancouver home sales report
- > Vancouver Market Report
- > Vancouver property info
- > Vancouver real estate > homes for sale
Recent Posts
VANCOUVER JANUARY HOUSING MARKET REPORT
0 Comments
Source: REBGV.
Residential property sales in the Vancouver region totalled 1,523 in January 2017, a 39.5 per cent decrease from the 2,519 sales recorded in January 2016 and an 11.1 per cent decrease compared to December 2016 when 1,714 homes sold.
January 2017 sales were 10.3 per cent below our 10-year January sales average.The total number of homes currently listed for sale on the Multiple Listing Service® in Metro Vancouver is 7,238, a 9.1 per cent increase compared to January 2016 and a 14.1 per cent increase compared to December 2016.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Sales of single family detached properties for Vancouver region in January 2017 reached 444, a decrease of 57.6 per cent from the 1,047 detached sales recorded in January 2016.
Sales of apartment properties reached 825 in January 2017, a decrease of 24.7 per cent compared to the 1,096 sales in January 2016.The benchmark price of an apartment property is $512,300.
Attached property sales in January 2017 totalled 254, a decrease of 32.4 per cent compared to the 376 sales in January 2016.