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Greater Vancouver Real Estate Market Update

October 2011

Greater Vancouver Market Update

 

 

With a sales-to-active residential property listings ratio of 15%, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

 

October residential property sales rank as the second lowest total for the last 10 years.

 

Prospective home buyers have a good selection of properties to choose from and more time to make decisions. 

 

Home sellers should be mindful of local market condifions to ensure they are pricing their properties competitively. 

 

Market price of a typical residential property in Greater Vancouver (benchmark price)  has increased 7.5% compare to October 2010, however since reaching a pick in June 2011, it has decilined 1.3%. 

 

Prices for detached houses dropped more significantly than prices for townhouses or condos. 

 

Though market has slowed down, priced right properties are selling thanks to the continuation of low interest rates.

 

 

Benchmark Price for properties in Greater Vancouver

(Estimated sale price for a typical property)

October 2011

 

House -  $884,778

Townhouses - $519,455

Condo - $402,702

 

Greater Vancouver Real Estate Market 

 Fraser Valley  Real Estate Market

 

 

 

 

Real Estate Prices Greater Vancouver

Click here to enlarge Residential Average Sale Price Graph

 

Greater Vancouver Market Update

 

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.