January 2020 Market Update
Vancouver Real Estate
Home Sales ACTIVITY UP, SUPPLY DOWN TO START 2020
Home sale and price activity remained steady in Metro Vancouver to start 2020 while home listing activity declined in January.
Sales in Greater Vancouver totalled 1,571 in January 2020, a 42.4% increase from the 1,103 sales recorded in January 2019, and a 22.1% decrease from the 2,016 homes sold in December 2019.
Last month’s sales were 7.3% below the 10-year January sales average.
The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 8,617, a 20.3% decrease compared to January 2019 (10,808) and a 0.2% increase compared to December 2019 (8,603), and is 13.7% below the 10-year January average.
For all property types, the sales-to-active listings ratio for January 2020 is 18.2%. By property type, the ratio is 11.6% for detached homes, 22.6% for townhomes, and 23.9% for apartments.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,008,700. This is a 1.2% decrease compared to January 2019, a 1.4% increase over the past 6 months, and a 0.8% increase compared to December 2019.
