Home Sales and Listings Continue to Follow Historic Averages

In the first two months of 2014, the Greater Vancouver housing market has maintained the steady pace set throughout 2013.

Last month’s sales total mirrors the 10-year sales average for February of 2,547, with just 17 sales separating the two figures. The sales-to-active-listings ratio currently sits at 18.9 per cent in Greater Vancouver, a 4.9 per cent increase from last month.

“Home buyer demand picked up in February, which is consistent with typical seasonal patterns in our housing market,” said Sandra Wyant, REBGV president. “We typically see home buyers become more active in and around the spring months.”

The total number of properties currently listed for sale on the Greater Vancouver MLS® is 13,412, a 9.3 per cent decline compared to February 2013 and a 6.4 per cent increase compared to January 2014.

“With the market continuing to perform at a steady, balanced pace, it’s important for home sellers to ensure their homes are priced correctly for today’s conditions,” Wyant said.

In the Maple Ridge/ Pitt Meadows area we had 91 single family homes sell this February compared to 59 last year. Townhouse had 43 sales compared to 25 last February and condos had 30 sales compared to 19 last February. Total sales last February was 103 and this year it was 164. A substantial improvement over 2013.

We have 1060 active listings residential listings consisting of 618 single family, 210 townhouse and 232 condos.