Selection broadens and demand eases in January 2012


The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 1,577 on the Multiple Listing Service® (MLS®) in January 2012.  This represents a 4.9 per cent decrease compared to the 1,658 sales recorded in December 2011, a decrease of 13.3 per cent compared to the 1,819 sales in January 2011 and an 18 per cent decline from the 1,923 home sales in January 2010.

January sales in Greater Vancouver were the second lowest January total in the region since 2002, though only 146 sales below the 10-year average.  Last month’s new listing count was the highest January total in Greater Vancouver since 1995. 

Sales of apartment properties reached 657in January 2012, a decline of 7.9per cent compared to the 713sales in January 2011, and a decrease of 26.3per cent compared to the 891 sales in January 2010.The benchmark price of an apartment property increased 2.4 per cent from January 2011 to $371,500.

Attached property sales in January 2012 totalled 261, a decline of 16.6per cent compared to the 313sales in January 2011, and a 20.2per cent decreasefrom the 327attached properties sold in January 2010. The benchmark price of a townhomeunit declined 0.5 per cent between January 2011 and 2012 to $468,000.


The Aziz Group



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