Home buyers remained active across Metro Vancouver in September 2014, with sales reaching one of the strongest levels seen for that month in a decade. Supply stayed close to its long-term average, creating a balanced market overall. Detached homes continued to gain value, while a larger condo supply kept prices comparatively steady.
Key takeaways
- Metro Vancouver recorded 2,922 home sales in September, up 17% from the same month a year earlier.
- There were 5,259 new listings, close to the 10-year September average.
- Total active inventory reached 14,832 homes.
- The sales-to-active-listings ratio was 19.7%, pointing to a strong, balanced market.
- Detached homes led price growth, while condo prices remained fairly flat.
- Supply remains the main reason for the difference between detached and condo performance.
A strong but balanced September market
Home buyers were active in Metro Vancouver during September. The 2,922 completed sales were 17% higher than the previous year and represented the third-highest September sales total of the past 10 years.
At the same time, sellers continued to bring homes to market. The 5,259 new listings were in line with the area's 10-year September average. With 14,832 homes available overall, buyers had a reasonable range of options rather than facing a market with very limited supply.
One useful way to understand the market is to compare sales with the number of active listings. In September, that sales-to-active-listings ratio was 19.7%. The ratio had stayed between 18% and 21% for eight months, a range generally associated with a strong and balanced housing market.
As a general guide:
- Ratios below 12% can signal downward pressure on prices.
- Ratios between 20% and 22%, if sustained in a particular area, can create upward pressure.
- A ratio near 20% suggests that neither buyers nor sellers have a major advantage across the market as a whole.
Home prices continue to rise gradually
Since the beginning of 2013, the benchmark price for residential properties in Metro Vancouver had increased by 7.7%. The main driver of those gains was the detached housing market.
Over the previous year, detached homes had gained roughly twice as much value as condominiums. That difference was not simply about buyer preference. It was closely tied to how much of each property type was available.
For buyers and sellers in Maple Ridge, Pitt Meadows, Mission, and nearby Fraser Valley communities, the broader numbers offer useful context. However, they do not tell the full story of an individual neighborhood or property. Local conditions can vary quite a bit from one community to the next.
Why detached homes are outperforming condos
The basic explanation is supply. Detached homes are not being built at the same pace as condominiums, while condo inventory has increased in many areas.
Before the 2009 economic downturn, Metro Vancouver commonly had between 4,000 and 5,000 condos listed for sale at a given time. Over the following three years, that number rose to roughly 6,000 to 7,000 units.
That additional choice changed the balance between buyers and sellers. Condos had regularly been in buyer-market territory before 2009, but as inventory grew, the sales-to-active-listings ratio moved closer to a balanced range.
The result was a clear difference in price performance:
Condo benchmark prices had climbed steadily before 2009. Since 2011, however, they had generally held in the range of $360,000 to $380,000. More supply gave buyers greater choice and reduced the upward pressure on prices.
What this means for local buyers and sellers
Market statistics are helpful, but real estate decisions should be based on the details of a specific property. A detached home in Maple Ridge may respond differently to market conditions than a condo in Pitt Meadows or a townhouse in Mission.
Buyers should look closely at:
- The number of comparable homes currently for sale.
- How long similar properties have been on the market.
- Recent sale prices, not only asking prices.
- Whether inventory is rising or falling in the neighborhood.
Sellers, meanwhile, need to price with current competition in mind. A property may still benefit from healthy demand, but an overpriced listing can sit while buyers compare it with newer or better-priced options.
At Royal LePage Brookside Realty, our one local team brings together decades of experience in Maple Ridge and the Fraser Valley. Since 1969, we have helped buyers, sellers, investors, and property owners understand how broad market trends connect to local opportunities. Whether the goal is a home purchase, a sale, or rental management, sound advice starts with knowing the conditions in the specific community.
A market that rewards careful research
September 2014 showed a market with healthy activity, steady listings, and no broad imbalance between buyers and sellers. Detached homes were benefiting from limited supply, while condos faced more competition from a growing number of available units.
The takeaway is simple: market averages provide direction, but local knowledge provides perspective. Anyone considering a move or investment should review current comparables and work with a real estate professional who understands the neighborhood—not just the regional headline numbers.
