SPRING DELIVERS GREATER BALANCE TO GREATER VANCOUVER HOUSING MARKET
Home prices are stabilizing as there has been a closer relationship between buyer demand and supply of homes for sale. With that information April sales equate to the lowest April total in the region since 2001 and 20.9% below the 10year sales average for the month.
While the number of home sales remains below average, properties that are priced right are selling and we are seeing a greater balance between buyer demand and the number of homes listed for sale.
New listings for detached attached and apartment properties in Greater Vancouver have declined 3% compared to April 2012.
The sales to active listings ratio currently sit at 15.7% and is the 2nd consecutive month that this ratio has been above 15%.
- Sales of detached properties are down 5.5% compared to April 2012, Greater Vancouver
- Sales of apartments have declined 11.6% compared to April 2012, Greater Vancouver
- Sales of Townhomes & Duplex properties are up 5.8%, Greater Vancouver
NORTH & WEST VANCOUVER STATS:
NORTH VANCOUVER
Detached Homes Benchmark Price $939,900
1 year change -2.6%
3 year change +4.7%
5 year change +4.7%
Townhouse Benchmark Price $584,500
1 year change -3.4%
3 year change -2.0%
5 year change-0.3%
Apartment Benchmark Price $346,500
1 year change -1.6%
3 year change -2.0%
5 year change -3.3%
WEST VANCOUVER
Detached Homes Benchmark Price $1,835,900
1 year change -5.4%
3 year change +21.3%
5 year change +13.9%
Apartments Benchmark Price $12.8%
1 year change -0.6%
3 year change -7.4%
5 year change -12.8%