Buying and Selling Real Estate Blog
Selling Unique BC Properties
January 2020 Market Stats
The cold weather of January didn't slow the market down for the beginning of 2020. In fact, property sales were 6% above the 10-year average even while the amount of new listings was over 10% lower than the average.
While we have had an increase of new & active listings in comparison to last month, the amounts are significantly lower then last year. With 5,143 active listings at the end of January we found ourselves 14.2% lower than the amount of active listings in January 2019. There were 2,216 new listings that came in throughout January, which is 133% higher then last month, but 15.1% lower than last year.
There were 974 sales processed in January, which is a decrease of 21.9% when compared to our busy December. In comparison to last January, sales are up 24.2%.
These numbers saw us slip into a balanced market again at a Sales-to-Active Ration of 19%.
The benchmark prices for homes across the Valley saw slight increases both month to month and in comparison with last year.
The Single Family Detached home came in at $960,800, which is a 0.7% increase compared to December 2019 and as well as January 2019.
Townhomes have a benchmark price of $518,000, which is an increase of 0.6% compared to December 2019 and a decrease of 0.8% compared to January 2019
Apartments saw an increase from December 2019 of 0.7% which put it at $408,400 and that is a decrease of just 0.1% in comparison to January 2019.
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