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REBGV October 2013 Stats: Balanced Conditions Continue

VANCOUVER, B.C. – November 4, 2013 – Home buyer and seller activity continues to mirror 
historical averages in the Greater Vancouver housing market. These trends have helped keep the
region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater
Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a
37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent
increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315
in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in
October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in
September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new
listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing
totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in
balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is
15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent
compared to September 2013.

The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in
Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last
year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from
the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units
sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from
October 2012 to $922,600.

 

View Full Stats Package: http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package%2C%20October%202013.pdf

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