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Greater Vancouver Real Estate Market - September 2012

 

The Summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.


Residential property sales show a 32.5% decline compared to sales in September 2011 and an 8.1% decline compared to sales in August 2012.  


September sales were 41.6% below the 10-year September sales average.

 

There's been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages. This makes homes less affordable for the people of the region.


Today, our sales-to-active-listings ratio sits at 8%, which puts us in a buyer's market. This ratio has been declining in our market since March when it was 19%. 

 

Our sales-to-active-listings ratio sits at 8%, which puts us in a buyer's market. The ratio has been declining in our market since March, when it was 19%. 


Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have had some of the largest price increases over the last year or two.

 

The composite benchmark for all properties in Greater Vancouver is $606,100. This represents a decline of 0.8% compared to this time last year and a decline of 2.3% over last three months.



 

September Sales: 

 

Detached Properties (Houses) 

Average Days on Market: 57

Average Sale Price / Asking Price 95%

 

Townhouses

Average Days on Market: 64

Average Sale Price / Asking Price 97%

 

Condos / Apartments

Average Days on Market: 56

Average Sale Price / Asking Price 96%

 

 

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

 House -  $935,600    Townhouses - $458,600    Condo - $368,600



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.