Metro Vancouver Home Sales Set Record Pace in June 2015
Residential property sales in Metro Vancouver reached 4,375 on the MLS in June 2015. This represents a 28.4% increase compared to the 3,406 sales recorded in June 2014, and an increase of 7.9% compared to the 4,056 sales in May 2015.
Last month's sales were 29.1% above the 10-year sales average for the month. It's the 4th straight month with over 4,000 sales, which is a first in the REBGV's history. The previous highest number of residential home sales was 4,434 (May 2005).
"These were more detached home sales in the region last month than we've seen during the month of June in more then 10 years" REBGV president said.
New listings for detached, attached and apartment properties in Metro Vancouver totalled 5,083 in June. This represents an 8.7% increase compared to the 5,399 new listings reported in June 2014.
The total number of properties currently listed for sale on the region's MLS is 12,181 a 23.9% decline compared to June 2014 and 1.3% decline compared to May 2015. This i the lowest active listing total for June since 2006.
The sales-to-active-listings ratio in June was 35.9%. This is the highest that his ratio has been in Metro Vancouver since June 2006.
Sales of detached properties in June 2015 reached 1,920 an increase 35.6% compared to the 1,308 sales in June 2014, an increase of 66.1% compared to the 1,068 sales in June 2013
Attached property sales in June 2015 totalled 681, an increase of 7.1% compared to the 636 sales in June 2014, and an 44.3% increase from the 472 attached properties sold in June 2013