January 2014 Real Estate Stats

It is a rough road that leads to the heights of greatness. - Seneca

Attached are the Sales and Listings Stats updated to the end of January 2014. January typically starts off slower and gains momentum as the month progresses. This year was no different. Only 5 times since 1986 has January seen a higher number of units sold compared to the preceding December for Greater Vancouver. As well, Greater Vancouver sales in January 2014 were higher than January 2005, with total sales in 2005 being the highest amount on record. A pretty good start after all. Total Active Listings are down from this time last year and 2012, with strong absorption of new listings coming on market – 33% in January 2014, compared to 26% in January 2013 and 27% in January 2012. The Benchmark Price for Greater Vancouver is at the same level as it was in January 2012 but up 3% compared to January 2013. So while prices declined through 2012 and into 2013, they are recovering coming into 2014. While the weather is cold to start February in Vancouver, the real estate market is starting to warm up!

 sales and listings stats all residential jan 2014

sales and listings stats houses townhouses and condos january 2014

Here’s a summary of the numbers:

Greater Vancouver: Total Units Sold in January 2014 was 1,804 – down from 1,990 in December 2013, up from 1,374 in January 2013; Active Listings are at 13,577 compared to 14,149 at this time last year; Month’s Supply of Total Residential Listings is at 8 Months (Balanced Market).

Vancouver Westside Residential: Total Units Sold in January 2014 was 393 – even to 393 in December 2013, up from 314 in January 2013; Active Listings are at 2,435 compared to 2,561 at this time last year; Month’s Supply of Total Residential Listings is at 6 Months (Balanced Market).

Vancouver Eastside Residential: Total Units Sold in January 2014 was 173 – down from 236 in December 2013, up from 140 in January 2013; Active Listings are at 955 compared to 1,047 at this time last year; Month’s Supply of Total Residential Listings is at 6 Months (Balanced Market).

North Vancouver Residential:  Total Units Sold in January 2014 was 121 – down from 137 in December 2013, up from 106 in January 2013; Active Listings are at 748 compared to 775 at this time last year; Month’s Supply of Total Residential Listings is at 6 Months (Balanced Market).

West Vancouver Houses: Total Units Sold in January 2014 was 62 – down from 75 in December 2013, up from 47 in January 2013; Active Listings are at 582 compared to 598 at this time last year; Month’s Supply of Total Residential Listings is at 9 Months (Balanced to Buyer’s Market).

Richmond Residential: Total Units Sold in January 2014 was 265 – up from 249 in December 2013, up from 165 in January 2013; Active Listings are at 1,875 compared to 1,963 at this time last year; Month’s Supply of Total Residential Listings is at 7 Months (Balanced Market).