boxy
04-04-2009, 07:35 AM
Hey Yeller, here are some stats from your Market for March .....
Subtle changes are taking place in the Vancouver real estate market
By Charlie Smith
Yesterday (April 2), the Real Estate Board of Greater Vancouver reported a 53 percent increase in sales in March over the previous month.
Over the previous 10-year period, there was an average 31 percent increase in sales in March over February.
It's too early to say if this suggests that the market has reached a bottom. But it does indicate that people appear to be more willing to buy, and perhaps sellers have adjusted their expectations.
In February, there was a 94 percent increase in sales over the month of January. That compared to an average 53 percent increase in sales in February over January over the previous decade.
This means that for two consecutive months, the increase in sales volume month-over-month has significantly outperformed the norm.
In March, there were 2,65 units sold in the Real Estate Board of Greater Vancouver, which is still 24.4 percent below the same month in 2008.
The benchmark price in the region is down 14 percent over the same month a year ago. Last month, the board reported that the benchmark price in the region was off 13.5 percent from a year ago.
The biggest drop in March was among detached houses in Port Moody, which are down 34.8 percent.
The smallest drop in value was for attached homes in Port Coquitlam, which fell just 2.8 percent in March 2009 compared to the same month a year ago.
West Side detached homes were down 22.2 percent over the same month a year ago; East Side detached homes were down 11.3 percent.
West Side apartments fell 14.9 percent; East side apartments were down 11.6 percent. Attached homes on the West Side fell 12.2 percent in price over the same month a year ago, whereas East Side detached units declined by 15.2 percent.
Subtle changes are taking place in the Vancouver real estate market
By Charlie Smith
Yesterday (April 2), the Real Estate Board of Greater Vancouver reported a 53 percent increase in sales in March over the previous month.
Over the previous 10-year period, there was an average 31 percent increase in sales in March over February.
It's too early to say if this suggests that the market has reached a bottom. But it does indicate that people appear to be more willing to buy, and perhaps sellers have adjusted their expectations.
In February, there was a 94 percent increase in sales over the month of January. That compared to an average 53 percent increase in sales in February over January over the previous decade.
This means that for two consecutive months, the increase in sales volume month-over-month has significantly outperformed the norm.
In March, there were 2,65 units sold in the Real Estate Board of Greater Vancouver, which is still 24.4 percent below the same month in 2008.
The benchmark price in the region is down 14 percent over the same month a year ago. Last month, the board reported that the benchmark price in the region was off 13.5 percent from a year ago.
The biggest drop in March was among detached houses in Port Moody, which are down 34.8 percent.
The smallest drop in value was for attached homes in Port Coquitlam, which fell just 2.8 percent in March 2009 compared to the same month a year ago.
West Side detached homes were down 22.2 percent over the same month a year ago; East Side detached homes were down 11.3 percent.
West Side apartments fell 14.9 percent; East side apartments were down 11.6 percent. Attached homes on the West Side fell 12.2 percent in price over the same month a year ago, whereas East Side detached units declined by 15.2 percent.