Russell Sharp North Vancouver Realtor

December 2011 sales in Vancouver Real Estate showed a marked delcine compared to November 2011. There was a decrease of  29.7% from sales reported in Vancouver real estate in Novermber 2011. This is also a 12.7% decline in overall sales compared to December 2010 a year before. December 2011 showed a decrease of 34.1% compared to December 2009. 

Is this drop in sales serious for Vancouver real estate. Well, overall last year showed a 'balanced' market where the number of listings and buyers equalled itself out. Overall sales in 2011 were 5.9% up on 2010. Though it was a 9.2% decrease from 2009. In other words overall things are getting better in the Vancouver real estate market though there is a marked drop in sales in December. If this shows to be a trend then we could have problems in the market. Comparing last year's sales to the 10 year average we see a 6.3% (below the ten year average). Supply of real estate was up last year with a 2.7% increase in listings in 2011. More listings trend and less buyers (it is predicted there to be 15% less buyers in the Vancouver real estate market in 2012 then 2011) simple economics dictates that the prices are set to drop in 2012.