{"id":8176,"date":"2014-09-03T11:09:39","date_gmt":"2014-09-03T18:09:39","guid":{"rendered":"https:\/\/www.garbuttdumas.ca\/?p=8176"},"modified":"2014-09-03T11:09:39","modified_gmt":"2014-09-03T18:09:39","slug":"aug-2014-market-update","status":"publish","type":"post","link":"https:\/\/www.garbuttdumas.ca\/2014\/09\/03\/aug-2014-market-update\/","title":{"rendered":"Aug 2014 Market Update"},"content":{"rendered":"<h3 style=\"text-align: center;\"><strong>Housing market activity follows 10-year August averages.<\/strong><\/h3>\n<p>The Metro Vancouver housing market experienced steady home sale, listing, and pricing trends for the month of August.<br \/>\nThe Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,771 on the Multiple Listing Service\u00ae (MLS\u00ae) in August 2014. This represents a 10.2 per cent increase compared to the 2,514 sales recorded in August 2013, and a 9.5 per cent decline compared to the 3,061 sales in July 2014.<br \/>\n\u201cActivity this summer has been strong but not unusual for our region,\u201d Ray Harris, REBGV president said. \u201cThe volume of home sales has been higher than we\u2019ve seen in the last three years, yet below the record-breaking levels of the past decade.\u201d<br \/>\nLast month\u2019s sales were 4.3 per cent above the 10-year sales average for August of 2,658.<br \/>\nThe MLS\u00ae Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is currently $631,600. This represents a 5 per cent increase compared to August 2013.<br \/>\n\u201cBroadly speaking, home prices in the region are continuing to experience modest, incremental gains,\u201d Harris said.<br \/>\nNew listings for detached, attached and apartment properties in Metro Vancouver totalled 3,940 in August. This represents a 5.9 per cent decline compared to the 4,186 new listings in August 2013 and a 20 per cent decline from the 4,925 new listings in July. Last month\u2019s new listing total was 8.4 per cent below the region\u2019s 10-year new listing average for the month.<br \/>\n<iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"\/\/www.youtube.com\/embed\/dVBSC4nlDAY\" frameborder=\"0\" allowfullscreen><\/iframe><br \/>\nThe total number of properties currently listed for sale on the MLS\u00ae system in Metro Vancouver is 14,768, a 7.9 per cent decline compared to August 2013 and a 5.4 per cent decrease compared to July 2014.<br \/>\nSales of detached properties in August 2014 reached 1,158, an increase of 10.1 per cent from the 1,052 detached sales recorded in August 2013, and an 85.6 per cent increase from the 624 units sold in August 2012. The benchmark price for detached properties increased 6.6 per cent from August 2013 to $984,300.<br \/>\n<a title=\"Full News Article\" href=\"http:\/\/www.rebgv.org\/news-statistics\/housing-market-activity-follows-10-year-august-averages\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Full Article<\/a><br \/>\n<a title=\"Full Stats Package\" href=\"http:\/\/www.rebgv.org\/sites\/default\/files\/REBGV%20Stats%20Package%2C%20August%202014%20%281%29.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Full Stats Package<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housing market activity follows 10-year August averages. The Metro Vancouver housing market experienced steady home sale, listing, and pricing trends for the month of August. 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