Greater Vancouver housing market trends near long-term
averages as spring market approaches
VANCOUVER, B.C. – March 2, 2012 – Closer alignment between home buyer and seller activity helped bring
greater balance to the Greater Vancouver housing market in February.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver
reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577
sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per
cent increase from the 2,473 home sales in February 2010.
February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151
sales below the 10-year average.
“With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we
move into the traditionally busier spring season,” Rosario Setticasi, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,552 in February 2012.
This represents a 2.5 per cent decline compared to February 2011 when 5,693 properties were listed, and a 3.5 per cent
decline compared to January 2012 when 5,756 homes were added to the MLS® in Greater Vancouver.
Last month’s new listing count was the second highest February total in Greater Vancouver since 1996.
At 14,055, the total number of residential property listings on the MLS® increased 12 per cent in February compared
to last month and increased 17.9 per cent from this time last year.
“Region-wide we’ve seen relative stability in home prices over the last six months, but it’s important to do your
homework and consult your REALTOR® because pricing can vary considerably depending on the neighbourhood and
property type,” Setticasi said.