Major Cities Report
Will real estate sales in Victoria continue the upward trend into 2015?
389 properties sold in the Victoria region this December, an increase of 9.6% when compared to the 355 properties sold in December last year. Overall, 2014 saw 11.67% more sales than in 2013.
The Multiple Listing ServiceÂ® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $542,800. This month the benchmark value rose 2.9% to $558,500. Over the course of 2014, 6.2% of single family homes (238) sold for over one million dollars.
It was a typical year for the Metro Vancouver housing market in certain respects
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2014 reached 33,116, a 16.1 per cent increase from the 28,524 sales recorded in 2013, and a 32.3 per cent increase over the 25,032 residential sales in 2012. The MLSÂ® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to December 2013.The MLSÂ® Home Price Index composite benchmark price for all residential properties in Metro Vancouver ends the year at $638,500. This represents a 5.8 per cent increase compared to December 2013. Sales of detached properties in December 2014 reached 833, an increase of 9.3 per cent from the 762 detached sales recorded in December 2013. The benchmark price for detached properties increased 8.1 per cent from December 2013 to $1,002,200. The benchmark price of an apartment property increased 3.5 per cent from December 2013 to $380,700. The benchmark price of an attached unit increased 4.5 per cent between December 2013 and 2014 to $476,800.
Condominium and townhouse sales set a new record for 2014, even as monthly sales see slight decline
It was a record setting year for Calgaryâ€™s condominium apartment and townhouse sectors, as sales reached new annual highs despite year-over-year residential sales declines of 7.5 per cent in December. Single family sales totaled 708 units in December, a yearover-year decline of 8.3 per cent. Meanwhile, total condominium sales also declined by six per cent over the same time frame, but overall activity remained consistent with long-term averages. Single-family sales totaled 17,185 in 2014, an annual increase of 5.5 per cent. While the single-family sector represents the largest component of sales at 67 per cent, the growth in sales in both the condominium markets has outpaced activity in this sector
MLSÂ® System Sales Up Over 11% in 2014
Sales of residential property through the Edmonton Multiple Listing ServiceÂ® (MLSÂ®) System in 2014 in the Edmonton CMA were over 11 percent higher than in 2013, exceeding growth expectations by a large margin. There were 18,991 residential sales reported in 2014 as compared to 17,077 in 2013. Prices were also up compared to 2013, with single family homes finishing the year 5.6% higher over last year at an average of $432,713. For 2014, the average price of a condo was $252,175 (up 4.5% from 2013) and the average price of all residential properties was $367,228 (up 5.2% from 2013).
Near Record Sales in 2014
The calendar year 2014 sales result represented a 6.7 per cent increase over the 2013 sales figure of 87,049 and was just short of the record set in 2007. The average selling price continued to grow on a year-over-year basis, with an 8.4 per cent increase over calendar year 2013 to $566,726. The strong price growth we experienced in 2014 can be explained with two words: listings shortage. The constrained supply of listings was especially evident for low-rise home types like singles, semis and town houses.