{"id":140,"date":"2016-02-16T18:27:08","date_gmt":"2016-02-16T23:27:08","guid":{"rendered":"http:\/\/www.juliafreeman.ca\/blog\/?p=140"},"modified":"2016-02-16T19:00:38","modified_gmt":"2016-02-17T00:00:38","slug":"home-buyer-competition-keeps-home-sellers-in-the-drivers-seat","status":"publish","type":"post","link":"https:\/\/www.juliafreeman.ca\/blog\/2016\/02\/home-buyer-competition-keeps-home-sellers-in-the-drivers-seat\/","title":{"rendered":"Home Buyer Competition Keeps Home Sellers in the Driver’s Seat"},"content":{"rendered":"

Home buyer competition keeps home sellers in the driver\u2019s seat<\/strong><\/p>\n

VANCOUVER, B.C. \u2013 February 2, 2016 <\/strong>\u2013 Home buyer activity remains at near record levels<\/p>\n

across the Metro Vancouver housing market.<\/p>\n

Residential property sales in Metro Vancouver* totalled 2,519 in January 2016, an increase of<\/p>\n

31.7 per cent from the 1,913 sales recorded in January 2015 and a 10.9 per cent decline<\/p>\n

compared to December 2015 when 2,827 home sales occurred.<\/p>\n

Last month\u2019s sales were 46 per cent above the 10-year sales average for the month and rank as<\/p>\n

the second highest January on record.<\/p>\n

\u201cFundamental economics are driving today\u2019s market. Home buyer demand is at near record<\/strong><\/p>\n

heights and home seller supply is as low as we\u2019ve seen in many years,\u201d Darcy McLeod, REBGV<\/strong><\/p>\n

president said.<\/strong><\/p>\n

New listings for detached, attached and apartment properties in Metro Vancouver* totalled 4,442<\/p>\n

in January 2016. This represents a 6.2 per cent decline compared to the 4,737 units listed in<\/p>\n

January 2015 and a 119.8 per cent increase compared to December 2015 when 2,021 properties<\/p>\n

were listed.<\/p>\n

\u201cThe MLS\u00ae is the most powerful real estate marketing system in the country. If you\u2019re thinking<\/p>\n

of selling, it\u2019s important to talk with your REALTOR\u00ae about putting your home on the MLS\u00ae<\/p>\n

system to ensure your property gets maximum exposure,\u201d McLeod said.<\/p>\n

The total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver<\/p>\n

is 6,635, a 38.6 per cent decline compared to January 2015 (10,811) and a 10.1 per cent increase<\/p>\n

compared to December 2015 (6,024).<\/p>\n

The sales-to-active listings ratio for January 2016 is 38 per cent. This is indicative of a seller\u2019s<\/p>\n

market.<\/p>\n

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below<\/strong><\/p>\n

the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20<\/strong><\/p>\n

to 22 per cent range in a particular community for a sustained period of time.<\/strong><\/p>\n

Sales of detached properties in January 2016 reached 1,047, an increase of 34.1 per cent from the<\/p>\n

781 detached sales recorded in January 2015. The benchmark price for detached properties<\/p>\n

increased 25.9 per cent from January 2015 to $1,273,100.<\/p>\n

Sales of apartment properties reached 1,096 in January 2016, an increase of 35.5 per cent<\/p>\n

compared to the 809 sales in January 2015. The benchmark price of an apartment property<\/p>\n

increased 15.9 per cent from January 2015 to $443,400.<\/p>\n

Attached property sales in January 2016 totalled 376, an increase of 16.4 per cent compared to<\/p>\n

the 323 sales in January 2015. The benchmark price of an attached unit increased 14.6 per cent<\/p>\n

from January 2015 to $555,100.<\/p>\n

*Editor\u2019s Note: <\/strong>Areas covered by Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast,<\/p>\n

Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody,<\/p>\n

Port Coquitlam, Coquitlam, New Westminster, Pitt Meadows, Maple Ridge, and South Delta.<\/p>\n

-30-<\/p>\n

The Real Estate Board of Greater Vancouver is an association representing more than 12,000 REALTORS\u00ae and<\/p>\n

their companies. The Board provides a variety of member services, including the Multiple Listing Service\u00ae. For<\/p>\n

more information on real estate, statistics, and buying or selling a home, contact a local REALTOR\u00ae or visit<\/p>\n

www.rebgv.org.<\/em><\/p>\n

For more information please contact:<\/p>\n

Craig Munn<\/p>\n","protected":false},"excerpt":{"rendered":"

Home buyer competition keeps home sellers in the driver\u2019s seat VANCOUVER, B.C. \u2013 February 2, 2016 \u2013 Home buyer activity remains at near record levels across the Metro Vancouver housing … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/140"}],"collection":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/comments?post=140"}],"version-history":[{"count":3,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/140\/revisions"}],"predecessor-version":[{"id":143,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/posts\/140\/revisions\/143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media\/144"}],"wp:attachment":[{"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/media?parent=140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/categories?post=140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.juliafreeman.ca\/blog\/wp-json\/wp\/v2\/tags?post=140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}