Vancouver Homes Sales in 2015 Break Records, Rise 28%: REBGV
January 08, 2016
2015 was a record-breaking year for Greater Vancouver real estate, with sales totalling the most ever recorded, according to Real Estate Board of Greater Vancouver (REBGV) data released January 5.
Sales of residential properties across the year rose 27.8 per cent when compared with the total sales recorded in 2014. However, the number of homes listed for sale in Greater Vancouver last year increased by just 2.1 per cent year over year. With sales-to-listings ratios of more than 25 per cent for 11 out of 12 months in 2015, it was a strong sellers’ market for much of the year, said the board.
“Home buyers were active and motivated throughout 2015 despite the pressure on supply of homes on the market," said Darcy McLeod, REBGV president. "Housing markets typically experience quieter periods within a calendar year, but that wasn't the case in Metro Vancouver last year.”
The board also released sales and price index figures for the month of December 2015, which saw an increase in home sales of 33.6 per cent compared with December 2014, and a benchmark price rise of 18.9 per cent year over year to $760,900.
Greater Vancouver home sales across the year totalled 42,326, a 27.8 per cent increase from the 33,116 sales recorded in 2014.
The new year is traditionally a time where many of us plan for the upcoming year and outline our goals. We would be happy to be a resource if you have any questions about the real estate market or planning your real estate goals for 2016. Contact us directly, we'd love to help!