Market Spotlight: July 2013 Residential Stats

The Real Estate Board of Greater Vancouver has released their July 2013 stats. Generally, the market is showing increased sales activity over the summer months, and while pricing has been generally flat or slightly increasing in most areas. Some other highlights:

• Sales of condos reached 1,210 in July 2013, a 30.5% compared to the 927 sales in July 2012.
• The total number of properties currently listed for sale on in Metro Vancouver is
  16,618, which is an 8.1 per cent decrease compared to July 2012 and a 3.9 per cent decline from June 2013.
• Single family prices continued a downward trend, and are down 3.1% year over year (YoY). Vancouver Westside is down 4.7% during the same period.
• Overall Condo prices in Metro Vancouver are down 1.6% YoY.
• The only area where the overall benchmark price has increased since July 2012? Pitt Meadows, at 1.9% growth.
• Bowen Island (-0.7%) and the Sunshine Coast (-4.3%) are the only areas where single family pricing has declined since January.
• Ladner (-1.4%), Port Coquitlam (-2.9%), Maple Ridge (-3.1%), West Vancouver (-2.9%) and Tsawwassen (-2.6%) are the only condo markets where average pricing has declined since January.

Source: REBGV