There were 28,524 home sales through the MLS in the Vancouver region in 2013, up 14 per cent from 2012, but an 11.9 per cent decrease from the 32,390 residential sales in 2011. (Tweet this stat)
The Real Estate Board of Greater Vancouver (REBGV) says that 2013 ranked as the third-lowest year for home sales over the last decade.
“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” REBGV president Sandra Wyant said.
Vancouver’s benchmark price for all housing types ended the year at $603,400, a 2.1 per cent increase compared to December 2012.
The number of residential properties listed for sale on the MLS in Metro Vancouver declined 6.2 per cent in 2013 to 54,742 compared to the 58,379 properties listed in 2012. Last year’s listing count is on par with the 10 year average.
“It was a year of stability for the Greater Vancouver housing market,” Wyant continued. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”
But as always, the numbers vary significantly across the many diverse communities covered by the REBGV. To put it all into perspective, we look at some of the regional highlights using December 2013 data as a point of reference:
- The benchmark price of a detached single-family home on Vancouver’s West Side was $2,103,300 in December 2013, up 5% from December 2012 (Tweet this stat)
- On the east side of Vancouver proper, the benchmark price of a detached home hit $867,200 last month, up 4.6% from December 2012
- The benchmark price of a condo in Whistler was $192,100 in December, down -14.7% from the same month in 2012 (Tweet this stat)
- The benchmark price of a condo in Pitt Meadows climbed 8.8% to $262,400 from December 2012 to December 2013
- The benchmark price of a Coquitlam townhouse was $380,900 in December, down -0.5% from the same month in 2012
And now for a long view of the Metro Vancouver housing market. Behold, the average sale price for all housing types over the last 36 years:
For a closer look at all the year-end and December data, the full REBGV report can be seen here.