Market Research

January Residential Stats

The Real Estate Board of Greater Vancouver has released their January 2013 stats. Generally, the market is showing continued signs of slowing, with both listings and sales down from 2012. The sales-to-active-listings ratio is currently at 10.2 per cent, in buyers territory. Some other highlights:

  • Sales of condos reached 576 in January 2013, a decline of 12.3% compared to the 657 sales in January 2012, and a decrease of 19.2% compared to the 713 sales in January 2011.
  • The total number of properties currently listed for sale  is 13,246, a 5.6% increase compared to January 2012 and a 4.5% decline compared to December 2012. This is the fourth consecutive month that overall home listings have declined.
  • Single family prices are down 3.1% year over year (YoY). Vancouver Westside is down 7.5% during the same period.
  • Condo prices are down 2.9% YoY. Richmond is down 5.2% during the same period.

January 2013 Residential StatsSource: REBGV.

February 4, 2013by david.taylor@colliers.com