The 2015 real estate market shattered records with the highest total of home sales in the Real Estate Board of Greater Vancouver’s history. Thanks to an early 4-month stretch of over 4,000 sales per month to kick the year off, 2015 sales reached a whopping 42,326. That’s a 27.8% increase from 2014’s 33,116 sales. The sales-to-active listings ratios were consistently above 25% for 11 months of the year, heavily favouring the seller’s market. “Home buyers were active and motivated throughout 2015 despite the pressure supply of homes on the market,” said REBGV president Darcy McLeod. Quiet moments just didn’t exist in the Metro Vancouver market last year. Proof is in the MLS® Home Price Index composite benchmark price that ended 2015 at $760,900; an 18.9% increase from December 2014. December 2015 was no slouch on its own; see the numbers below that ended the year on a high. The December market at a glance: December’s Residential Sales Total: 2,827 33.6% increase from December 2014, and a 19.8% decline from November 2015 Total number of active listings for December 2015: 6,024 41.6% decline from December 2014, and a 25.6% decline from November 2015 Benchmark price for all residential properties in Metro Vancouver is $736,000 A 15.3% increase from October 2014 Detached property sales totaled 1,136; a 36.4% increase from December 2014’s 833 sales. The Benchmark price for a detached property is $1,248,600; an increase of 24.3% from December 2014 Apartment property sales totaled 1,225; a 34.3% increase from December 2014’s 912 sales. The Benchmark price for an apartment property is $436,200; an increase of 14% from December 2014 Attached property sales totaled 466; a 25.6% increase from December 2014’s 371 sales. The Benchmark price for an attached unit is $543,700; an increase of 13.6% from October 2014 If you’re interested in seeing the complete breakdown, visit rebgv.org for all of the detailed comparisons. Want some advice on how your home fits in? Call us for a consultation today! *REBGV Editor’s 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.
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