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Greater Vancouver Real Estate Market - July 2012

Greater Vancouver Market Update

 

 

Residential property sales in Greater Vancouver remained at a 10-year low in July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable. 

 

"People appear to be cautious about making significant financial decisions right now. While our economy appears to be quite robust, there may be some concerns about the impact of international markets and the federal government's tightening of mortgage regulations, " says Eugen Klein, President of Real Estate Board of Greater Vancouver.

 

"With a sales-to-actives-listing ratio of 11.6%, conditions favoured buyers in our marketplace in recent months," Klein said. "That means buyers have more selection to choose from and more time to make a decision. For sellers, it's important to price properties competitively. For information on local market prices, contact your realtor". 

 

The composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 0.6% to $616,000 and declined 0.7% compared to last month. 

 

July Sales: 

 

Detached Properties (Houses) 

Average Days on Market: 53

Average Sale Price / Asking Price 96%

 

Townhouses

Average Days on Market: 55

Average Sale Price / Asking Price 97%

 

Condos / Apartments

Average Days on Market: 52

Sale Price / Asking Price 96%

 

 

Benchmark Price for properties in Greater Vancouver (Estimated sale price for a typical property)  - July  2012

 House -  $950,200    Townhouses - $468,700    Condo - $374,300



Greater Vancouver Real Estate Market 

 

Click here to download Greater Vancouver Price Trends by Areas And Sub-Areas

 

Click here to download statistics for real estate market of Fraser Valley

 

 

 

 

 

 

Real Estate Prices Greater Vancouver

Click here to enlarge Residential Average Sale Price Graph

 

Greater Vancouver Market Update

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.