The Greater Vancouver Housing market experienced the following:
The real estate board of Greater Vancouver reports that total sales of detached, attached and apartment properties has a 22.7% decline from the recorded sales in 2011. The ten year average for annual total recorded sales was also down 25.7%.
2011 Sales 32387
2012 Sales 25,032
Surprisingly, the total number of residential properties listed for sale in Greater Vancouver declined 2% over 2011.
2011 Listings 59,539
2012 Listings 58,379
For most of 2012 we saw a collective hesitation on the part of the buyers & sellers. This reflected in the lower than average home sale activity and modest fluctuations in home prices. We saw home prices come down a bit during the latter half of the year. During the same period we saw fewer home sales and listings.Today it is taking a home 73 days on average for a home to sell, that is the longest Greater Vancouver has seen in the last 3 years.
Homes most affected by the market were:
Detached Homes
Richmond -6.5%
Vancouver West Side -5.5%
Apartments
Whistler -9.9%
West Vancouver -5.6%
Please see the video for more information.
- Below average home sale totals.
- Typical home listing activity.
- Modest declines in home prices in 2012.
The real estate board of Greater Vancouver reports that total sales of detached, attached and apartment properties has a 22.7% decline from the recorded sales in 2011. The ten year average for annual total recorded sales was also down 25.7%.
2011 Sales 32387
2012 Sales 25,032
Surprisingly, the total number of residential properties listed for sale in Greater Vancouver declined 2% over 2011.
2011 Listings 59,539
2012 Listings 58,379
For most of 2012 we saw a collective hesitation on the part of the buyers & sellers. This reflected in the lower than average home sale activity and modest fluctuations in home prices. We saw home prices come down a bit during the latter half of the year. During the same period we saw fewer home sales and listings.Today it is taking a home 73 days on average for a home to sell, that is the longest Greater Vancouver has seen in the last 3 years.
Homes most affected by the market were:
Detached Homes
Richmond -6.5%
Vancouver West Side -5.5%
Apartments
Whistler -9.9%
West Vancouver -5.6%
Please see the video for more information.