2014 proved to be a busy year for residential sales in Greater Vancouver. Overall resiidential listing sales ranked 5th when compared to the last 10 years of activity.
The Real Estate Board of Greater Vancouver reports that 2014 total sales of detached, attached and apartment properties increased by 16.1% compared to 2013, and a 32.3% increase compared to 2012. Active listings in Greater Vancouver increased by 2.4% when compared to 2013, and declined by 4% when compared to 2012. Overall market conditions were balanced, for both buyers and sellers, even though we experienced some upward pressure on home prices over the course of the year.
If we look closely at our North Vancouver market we experienced a very strong seller's market for single family homes, and in the second half of 2014 sales and listing activity for attached properties (condos and townhoused) kept this segment firmly in a balanced market with strong momentum into 2015. With Buyer demand outpacing current listing inventory for detached homes in North Vancouver, if you are planning to sell your home, 2015 is shaping up to be a great year to do it.
Deatched home sales were: +13.9% over 2013, and +4.8% over 2012
Deatched listing inventory was: 19.8% lower than 2013, and 13.9% lower than 2012
Attached homes sales were: +15.9% over 2013, and +21.6% over 2012
Attached listings was: +3% over 2013 and even to 2012
In West Vancouver we saw continued improvement in sales, especially when compared to 2012.
Detached home sales were:+7.9% to 213 and +37.2% to 2012
Detached listing inventory was: 8.1% lower than 2013 and even to 2012
Click here REBGV December 2014 for your full stats package. If you are planning a lifestyle change or have any questions on how your micro market is performing, we'd love to talk to you. 2015 could be your year to make a move!
Regards, Dodi and Rachael