Vancouver Real Estate Statistics – October 2012
The number of sales in the Vancouver Real Estate market climbed slightly from September, and we saw a total of 1,931 combines sales in the Vancouver area during the month of October. This represents an increase from September 2012 of 27.4%, and a 16.7% decline from October 2011.
With respect to the 10 year average, the number of sales in October trended below the 10 year average by 28.5%.
“Buyer demand increased slightly in October compared to the previous few months,” Sandra Wyant, REBGV president-elect said. “Overall conditions in today’s market remain in favour of buyers, with low interest rates, more choice, and less time pressure in terms of decision-making. This translates into a calmer atmosphere for those looking to buy a home and it places more onus on sellers to ensure their homes are priced to compete in today’s marketplace.”
Detached Vancouver Real Estate
Total number of sales in October totalled 790, a year on year decrease of 18.9% (974 sold during October 2011). Prices peaked in May for detached homes, and since then prices have declined 4.1% to an average of $927,500.
Apartment Real Estate in Vancouver
October saw 803 sales of Apartments during October, compared to the same month a year ago this represents a decrease of 16.2% (958 sales in October 2011). Prices peaked in May, and since then we have seen a decline of 2.9% to $368,800.
Attached Property in Vancouver
Sales totalled 338 for October 2012, which was an 11.5% decrease compared to October 2011 (382 sales). Peaking in April, prices have declined 2.9% to $457,700.
Call me today to put a plan in place to sell your current property or to discuss a strategy to take advantage of this market. Adam Chahl Group – RE/MAX Select – +1 778 385 6141