September 2013 brought a more typical pace to the Greater Vancouver housing market. Home sales rose sharply from the unusually weak numbers recorded the year before, while new listings stayed close to long-term averages. Prices remained fairly steady overall, although results continued to vary by neighborhood and property type—an important point for Fraser Valley buyers and sellers.
Key takeaways
- 2,483 homes sold through the MLS in September 2013.
- Sales were 63% higher than September 2012, but 1% below the 10-year September average.
- There were 5,030 new listings, down 5.5% from the previous year.
- Total active listings reached 16,115 homes, virtually unchanged from August.
- The sales-to-active-listings ratio was 15%, suggesting a balanced market.
- The benchmark price for all residential properties was about $618,000, down 7% year over year but up 2.3% since the start of the year.
Sales return to a more normal level
Greater Vancouver recorded 2,483 MLS home sales in September. That was a significant improvement over September 2012, when sales were among the lowest seen in almost three decades.
Even with that year-over-year increase, sales were still 1% below the 10-year average for September. In other words, the market was no longer unusually quiet, but it also was not showing signs of excessive demand. Activity had settled into a more familiar range.
For buyers, this type of market can offer more room to make careful decisions. Sellers, meanwhile, need to price and present their homes realistically. The same approach applies across the Fraser Valley, including Maple Ridge, Pitt Meadows, and Mission, where local conditions may not match the broader Greater Vancouver figures.
Listing activity stays close to average
Sellers placed 5,030 homes on the market during the month. This was:
- 5.5% lower than September 2012
- 3.5% below the 10-year average for September
There were 16,115 active listings at the end of the month. That total was down 12% from the previous year but almost unchanged from August.
This balance between new listings and buyer demand helped keep the market from moving sharply in either direction. For property owners considering a sale, reviewing current comparable listings is especially important. A home may compete with many others in one neighborhood while facing much less competition just a few streets away.
What the sales-to-listings ratio tells us
The sales-to-active-listings ratio reached 15% in September. It had remained at 15% or higher for seven straight months.
Market analysts often use this ratio as a broad signal:
The 15% result pointed to a balanced environment. It did not suggest the strong seller conditions that can develop when demand consistently reaches the 20% to 22% range. At the same time, the ratio was comfortably above the level often linked with falling prices.
Still, a stronger sales pace does not automatically mean prices will rise. Market activity and price movement are related, but they are not the same thing.
Home prices remain fairly steady
The benchmark price for all residential properties in Greater Vancouver was approximately $618,000 in September 2013. This represented a 7% decline from the same month the previous year, while the benchmark had increased 2.3% since the beginning of 2013.
That combination shows why it is useful to look at more than one time period. Compared with 2012, prices were lower. Compared with the start of 2013, they had moved up modestly. Overall, prices had not changed dramatically during the year.
Price trends also differed by property type and neighborhood. Detached homes, townhomes, and condominiums can perform differently even within the same community. A broad regional benchmark is helpful for context, but it cannot replace a review of local sales and current listings.
What this meant for Fraser Valley real estate
Although this update focused on Greater Vancouver, buyers, sellers, and investors in the Fraser Valley could use the same lesson: local market knowledge matters.
Before making a decision, consider:
- Recent sales of similar homes nearby
- The number of competing listings
- How long comparable properties have stayed on the market
- Whether demand differs by property type
- The likely costs and timing of a purchase, sale, or rental strategy
At Royal LePage Brookside Realty, our one local team has served Maple Ridge and surrounding communities since 1969. That long history helps keep decisions grounded in the details of each neighborhood, rather than relying only on regional headlines. For homeowners and investors in Maple Ridge, Pitt Meadows, Mission, and across the Fraser Valley, professional guidance can make a steady market much easier to navigate.
