Hi Everyone,


It's been a busy and beautiful summer and, so far, autumn.  So much so, I didn't get the August stats out to you, so we'll do an August and September summary here for you.


Comparing sales figures to last year is a little misleading, in that sales volume dropped to well below the 10 year averages due to the feds tightening up on the mortgage lending rules in June 2012.  The numbers look very strong when we compare the months of August and September 2012 vs 2013, so a better measure is to look at the 10 year averages instead.

August sales volume was slightly below the 10 year average for the month by 4.6%, while September was just 1% below.  If we were to look at August 2013 vs August 2012, we are up 52.5%, while the September comparison shows we are 63.8% up.

One of the reasons for this increase was the slight increase in mortgage rates.  While still at record lows, we saw rates increase from a low of about 2.89% to around 3.59%.  That along with some pent up demand from last year's slow down has helped to see sales volume come back up to average levels.

This has not translated to an increase in home prices.  “It’s important to remember that stronger sales activity does not necessarily equate to rising home prices. In fact, home prices have not fluctuated much in our market this year,” said Sandra Wyant, REBGV president.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 0.7 per cent compared to this time last year and an increase of 2.3 per cent compared to January 2013.  This does, of course, fluctuate from neighbourhood to neighbourhood, as well as by property type.


Vancouver's westside finished September in a balanced market state.  The eastside sat at a seller's market for both detached and attached property segments, while apartments were in a balanced market.


For more charts and information, you can join my newsletter by contacting me at: kim@kimmcalpine.com


If you or someone you know has questions about the market or is thinking of buying or selling, let's chat!  I can be reached at: kim@kimmcalpine.com or on: 778 317 9909.


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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.