The new Vancouver Real Estate stats have been released for February 2012.
Less sales have occured over the last month but neer the 10 year average. This is an amazing stat. Homes are still selling by large numbers, you can credit this to the low mortgage rates.
Reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012
February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average.
Sales of apartment properties reached 1,020 in February 2012, a decline of 15.4 per cent compared to the 1,206 sales in February 2011, and a decrease of 5 per cent compared to the 1,074 sales in February 2010. The benchmark price of an apartment property increased 2.8 per cent from February 2011 to $373,300.
Region-wide the market has seen relative stability in home prices over the last six months, but it’s important to do your homework and consult your REALTOR® because pricing can vary considerably depending on the neighbourhood and property type, contact The Aziz Group to provide you with proffessional expertise.