Get new listings 48 hours sooner and with more information! Sign Up | Login

HAPPY HOLIDAYS! 

Back to a "Balanced" Market.... 

Remember last month when I wrote about the our “Buyers” market? Well in one small month we have now returned to a “balanced” market. What does that mean, you may ask, as we often hear real estate professionals go on and on about the market being “balanced” and everyone usually nods their heads pretending to understand.

What it means is that there is a balance between active listings and sales . If there are too many active listings and little sales, then the market gets lop-sided and becomes a “buyer’s” market. If there are little active listings and high sales, then the market will become a “seller’s” market. Both of these scenarios result in “un-balanced” markets.

So, for November, residential property sales reached 2,360 in Greater Vancouver. This represents a 1.9% increase compared to the 2,317 sales recorded in October 2011.

New listings totalled 3,222 in November. This represents a 26.3 % decline compared to the 4,374 new listings reported in October 2011.

The total number of properties currently listed for sale on the Greater Vancouver MLS® sits at 14,090, a decline of 9% compared to October 2011 (which was 15,377) but an increase of 13% when compared to this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.2% to $622,087 in November 2011 from $580,080 in November 2010.

So to summarize, since last month, sales are up 1.9% while listings are down 23.3%. This means that the inventory is shrinking so if you are a Buyer, don’t wait too long! Remember, last year the market went crazy in February, so the same may happen again. Sellers, sell anytime- you’re in a great position.

Questions? Just ask me!
ANA (604) 328-6330
ana@domingos.ca
www.domingos

 

Benchmark Prices for November 2011
 
Detached
Attached
Apartment
W. Van $1,760,000 n/a $693,000
Westside $2,019,900 $790,000 $511,000
Eastside $863,000 $556,000 $342,000
Richmond $1,061,250 $543,000 $353,000
N. Van $985,730 $646,000 $380,000
New West $583,500 n/a $305,000
Burnaby $911,370 $502,000 $368,000
     
Read full post
Categories:   Ambleside, West Vancouver Real Estate | Arbutus, Vancouver West Real Estate | Bolivar Heights, North Surrey Real Estate | Bowen Island, Bowen Island Real Estate | British Properties, West Vancouver Real Estate | Cambie, Vancouver West Real Estate | Central BN, Burnaby North Real Estate | Central Lonsdale, North Vancouver Real Estate | Coal Harbour, Vancouver West Real Estate | Downtown VW, Vancouver West Real Estate | Dunbar, Vancouver West Real Estate | Economic News | Fairview VW, Vancouver West Real Estate | False Creek, Vancouver West Real Estate | Forest Glen BS, Burnaby South Real Estate | Fraser VE, Vancouver East Real Estate | Fraserview VE, Vancouver East Real Estate | Government Road, Burnaby North Real Estate | Grandview VE, Vancouver East Real Estate | January 2013 | January 2017 Update | June Report 2011 | Kerrisdale, Vancouver West Real Estate | Killarney VE, Vancouver East Real Estate | Kitsilano, Vancouver Real Estate | Kitsilano, Vancouver West | Kitsilano, Vancouver West Real Estate | Lions Bay Real Estate | Lions Bay, West Vancouver Real Estate | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver Real Estate | MacKenzie Heights, Vancouver West Real Estate | Main, Vancouver East Real Estate | Marpole, Vancouver West Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Mount Pleasant VW, Vancouver West Real Estate | North Shore Pt Moody, Port Moody Real Estate | Oakridge VW, Vancouver West Real Estate | Oakridge, Vancouver West Real Estate | Oakridgr, Vancouver West Real Estate | Qualicum North Real Estate | Quilchena, Vancouver West Real Estate | Real Estate Stats for Vancouver from June 2011 | Real Estate Update for August 2011 | Real Estate Update for Vancouver October 2011 | Renfrew Heights, Vancouver East Real Estate | Renfrew VE, Vancouver East Real Estate | S.W. Marine, Vancouver West Real Estate | September 2011 Real Estate Update | Shaughnessy, Vancouver West Real Estate | South Vancouver, Vancouver East Real Estate | Southlands, Vancouver West Real Estate | Upper Lonsdale, North Vancouver Real Estate | Vancouver Real Estate | Vancouver West Real Estate | Victoria VE, Vancouver East Real Estate | West End VW, Vancouver West Real Estate | Yaletown, Vancouver West Real Estate
Blogs
Posts By Date
Categories

Ana Domingos

Cell: 604-328-6330

Office: 604-629-6100

TRG-The Residential Group Realty

#101 - 1965 West 4th Avenue

Vancouver,BC

Quick Contact
*indicates required fields.
Name:*
Email:*
Message:*
Please type the text as it appears above: