Real Estate Trends - June 2015 Update

(July 28, 2015 , posted in Real Estate Trends)

Last month was a record breaking June for home sales and second highest number of sales in any month overall. The highest being 4,465 sales in May 2005.

There were 4,403 residential sales in Greater Vancouver in June which is an increase of over 28% from the same time last year and an increase of 7.9% when compared to May 2015. The average sale price in June 2015 was $927,515; detached properties being $1,445,011, attached properties being $586,347 and apartments coming in at $480,371, respectively. There were 5,819 new listings on MLS® for a total of 12,354 at the end of June. The sales to active ratio in June was 35.9%, keeping the advantage of the real estate market on the seller’s side.

In Coquitlam, there were 509 new listings in June and 380 sales. There were 201 detached home sales, 48 attached homes and 131 apartments last month. The average sale price of a home in Coquitlam is $681,771, specifically; detached homes being $950,279, attached homes at $483,483 and apartments at $339,069. In June, the sales to active ratio in Coquitlam sits over 50% which is over 100% increase when compared to the same time last year. A seller’s market typically occurs when this ratio exceeds 20% for a sustained period of time. So far, in 2015, it has continued to stay above 20% in Coquitlam. The sales to active ratio is the highest it has been since June 2006 when the sales to active ratio in Coquitlam was at 52%.

With the highest selling June behind us, we look forward to see what the sales will look like for the rest of the summer.