Despite the holiday season, housing demand remains strong in the Greater Vancouver area. The story this year has been fairly consistent throughout: lower than average supply and higher than average sales. November was no exception. Home sales reached near record levels even as home listings began the traditional year-end decline. Compared to November 2014, homes sales for Metro Vancouver were up 40.1%. 2015 was the second highest November on record for residential property sales.
The total number of properties listed for sale on the real estate board’s MLS® was 35% lower compared to November 2014.
“Demand remains strong and there are housing options at different price points throughout the region,” Darcy McLeod, REBGV president said. “It’s important to work with your REALTOR® to understand your options before you embark on your home buying journey.”
Looking specifically at Vancouver, November mirrors the rest of the lower mainland. We are seeing very strong Seller's markets across all of the market segments on both the east and west sides of the city. Condos and townhomes/duplexes all with less than two months of supply.
Come join me on social media or visit my webpage:
A large part of my business comes from referrals, so if you or someone you know is interested in buying and/or selling, please pass along my contact information and I would be happy to speak with them about how I can help.
See below for info on Vancouver's east and west sides. Contact me if you'd like more information on this, or on an area not covered here.
Here are the stats: