October is upon us and with it comes the transformation of nature encompassing all the beautiful colours of the season.

There is also a transformation taking place in the greater Vancouver real estate market, as it appears that we are now entering into a buyer’s market.

The current sales-to-active-listing ratio sits at 14 per cent, which is the lowest it’s been this year.  What does this mean?  Analysts say that generally a buyer’s market takes place when the ratio dips to about 12-14%. 

There are currently 16,085 active listings in Greater Vancouver.  This represents a 4.4% increase compared to this time last year.  New listings however are up 20% as compared to September 2011.  This was the 3rd highest volume for September in 17 years!

Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5% from September of 2011. Benchmark price increased 13.4% since last year.

Attached property sales in September 2011 totalled 367, a 4.2% increase from September 2010. Benchmark price increased 5.4% since last year.

Sales of apartment properties reached 922 in September 2011, a 5% decrease from September 2010.  Benchmark price increased 4.4. % since last year.

So the overall picture for home-owners is good, as the benchmark prices have increased from 4.4 to 10.5% depending on if you own a condo, townhouse or house.  So if you’re selling you’ve made money in one year.  If you’re a buyer, it is a great time to buy as you have a good amount of inventory to choose from.  For more info, just ask me...

Stats info courtesy of the Real Estate Board of Greater Vancouver

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 | Burnaby Lake, Burnaby South 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 | Hawthorne, Ladner 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