Market Update May 2012

(June 06, 2012 )

Spring Activity Remains Balanced In The Greater Vancouver Housing Market



The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May.  The number of sales decreased year over year, but remain relatively constant compared to recent months.
May sales were the lowest total for the month in the region since 2001 however sales have been constant throughout the spring months.
Home sellers have outpaced buyers in recent months although there continues to be an overall balance between supply and demand in our marketplace. 
New listing for detached, attached and apartment properties in Greater Vancouver totaled 6,927 in May 2012.  This represents a 16.8% increase compared to May 2011 when 5,931 homes were listed for sale.
We are in a normal balanced market.

Here are the facts for North & West Vancouver:

NORTH VANCOUVER


DETACHED

North Vancouver Benchmark $983,700
1 year change up 7.8%
3 year change up 27.9%
5 year change up 19%

TOWNHOUSE

North Vancouver Benchmark $602,1001
1 year change up 4%
3 year change up 16.1%
5 year change up 10.2%

APARTMENT

North Vancouver Benchmark $352,400
1 year change up 0.7%
3 year change up 13.2%
5 year change up 6.6%

WEST VANCOUVER



DETACHED

West Vancouver Benchmark $1,948,200
1 year change up 12.3%
3 year change up 53.9%
5 year change up 33.2%

APARTMENT

West Vancouver Benchmark $649,500
1 year change up 0.7%
3 year change up 13.2%
5 year change up 6.6%