Home Buyer demand outpacing supply across the Metro Vancouver housing market
VANCOUVER, B.C. – May 4, 2015 – Strong home buyer demand coupled with below average
home listing activity has created seller's market conditions within the Metro Vancouver* housing
market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
Metro Vancouver reached 4,179 on the Multiple Listing Service® (MLS®) 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.
Last month’s sales were 29.3 per cent above the 10-year sales average for the month.
“The supply of homes for sale today in the region is not meeting the demand we're seeing from
home buyers. This is putting upward pressure on prices, particularly in the detached home
market," Darcy McLeod, REBGV president said.
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.
The total number of properties currently listed for sale on the region’s MLS® 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.
“It’s a competitive and fast-moving market today that is tilted in favour of home sellers. To be
competitive, it’s important to connect with a local REALTOR® who can help you develop a
strategy to meet your home buying or selling needs,” McLeod said.
For the full report please download the attachment... rebgv april 2015 stats
Information obtained from the Real Estate Board of Greater Vancouver