Greater Vancouver Real Estate Market September 2011
Greater Vancouver Real Estate Market Update. September 2011
Fewer sales and consistent increases in property listings over the past several months moved the Greater Vancouver real estate market into the upper end of a Buyers' market.
Number of residential property sales in September is 1.2% higher than in September 2010, but still rank as the third lowest total for September over the last 10 years.
Buyers have more properties to choose from and more time to make a decision compared to the spring market.
Number of new listings in September represent the third highest volume for September in 17 years. It represents 20.1% increase compared to September 2010 and 21.2% increast compared to August 2011.
September sales-to-active listings ratio is 14%, which is the lowest it's been this year. Generally analysts say that a Buyers' market takes shape when the ratio drops to about 12-14% or lower for a sustained period of time.
Since reaching the peak in June of $603,921, the benchmark price for all residential properties in the region has declined 0.5%.
Benchmark Price for properties in Greater Vancouver(Estimated sale price for a typical property). September 2011:
House - $896,701
Townhouse - $516,697
Condo - $405,569
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.