Wednesday, November 2, 2011 Greater Vancouver at Lower End of Balanced Housing MarketCategories:Buranby Real Estate,Burnaby House Prices,Burnaby Real Estate,House Price Index,HPI,Sales Statistics,Vancouver Real Estate
November 2, 2011 – With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.
“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”
To View House Price Index HPI Charts, Click Here. Thursday, July 7, 2011 The Summer Housing Market Trends Toward More BalanceThe Greater Vancouver - Burnaby Real Estate Market is returning to a more balanced state, as new listings are outpacing sales. New listings for June were 9.8% higher that the 10-year average, while sales were over 7% below.
The MLSLink® Benchmark House Price Index for all residential properties over the 12 month period increased by 8.7% . For detached houses, the increases were the largest, with Vancouver Westside leading the way, followed by West Vancouver. Richmond, which had been experiencing very strong prices, appears to be levelling off. The Benchmark price for all detached homes increased by 13.4% year over year, and now sits at 901,680.
Apartments have shown more modest growth, with the benchmark price for all apartments increasing by 3.5% year over year, to $405,200. Categories: apartments | Buranby Real Estate | Burnaby House Prices | Burnaby Real Estate | House Price Index | HPI | Market Conditions | Sales Statistics | strata | townhomes | Vancouver Real Estate |
Jordy Brisbin - REALTOR® | ||||||||
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