Vancouver Real Estate News
by Vancouver Realtor ® Russell Sharp
Monday, August 29, 2011
Vancouver Real Estate is turning into a buyer’s market.
It is turning into a buyer’s market as the number of listings has increased each month since the start of the year.
There has been an increase in the sales of attached houses and detached houses in greater Vancouver with a 14% increase compared to the July 2010. However, there was a fall in sales by 21.2% compared to last month.
There are less multiple offer situations compared to the last few months. The average time to sell a home in Vancouver is now 41 days. This has gone unchanged from June.
Number of listings has risen by 23.2 % compared to July of last year. However, there is 12% less listings in July this year compared to June this year. There has also been an 8% drop in listings compared to last month (June 2011).
Overall the houses prices have gone up with a 9.2% increase compared to a year ago.
Sales of detached houses in Vancouver Real Estate have increased by 21% since the same time last year. The benchmark price for detached houses in Vancouver Real Estate has increased by 13.3% since the same time last year.
Sales of apartments has increased by 17.4% compared to the same time last year. The benchmark price of an apartment increased 4.5% from the same time last year.
In North Vancouver we saw detached 294 houses for sale in total. The number of listings in North Vancouver has remained unchanged between June and July 2011. The number of sales in North Vancouver has reduced between June and July. In June there were 132 detached houses sold in North Vancouver whereas in July this was reduced to 91 detached houses sold. In West Vancouver real estate the number of houses sold went down from 120 to 94.
In simple terms Compared to last month.
Sales in Vancouver DOWN by 21.2%.
Number of listings DOWN by 12%
Average Price of all properties in Vancouver DOWN by 0.1%
Number of Sales of Detached Houses DOWN by 25.3%
Number of Sales of Apartments DOWN by 17.9%
Average price of Apartments DOWN by 0.4%
Average price of Detached house DOWN by 0.3%
North Vancouver Detached houses sales DOWN by 31%
West Vancouver Detached houses sales DOWN by 22%
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