The Greater Vancouver Real Estate Market began with a bang in 2011.
The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to 59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten year average for annual Multiple Listing Service® (MLS®) property listings in the region.
The overall residential benchmark price for Greater Vancouver increased 7.6 per cent to $621,674. This average takes into consideration the International buyers who out bid each other on the West Side over detached homes through out 2011. The average Condo sales price in Greater Vancouver was at a benchmark of $401,396. This fiqure climbed 3.7% from 2010.
Sales of Condo properties reached 774 in December 2011, a decline of 4.6 per cent compared to the 811 sales in December 2010, and a decrease of 32.9 per cent compared to the 1,154 sales in December 2009.
The Greater Vancouver Real Estate average has been skewed out of proportion due to detached home sales 2011. When you are considering to buy or sell a home always speak with a Real Estate Professional who can give you detailed and relevant information specfic to your needs.
The Aziz Group