Jordy Brisbin

REALTOR® in Vancouver BC

Cell: 604-839-2891

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Thursday, July 7, 2011

The Summer Housing Market Trends Toward More Balance

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The 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.
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