The Real Estate Board of Greater Vancouver has released its latest report and statistic for May 2012.
The number of properties listed for sale continued to increase in the Greater Vancouver housing market in May. The number of sales decreased year over year, but remained relatively constant compared to recent months
Last month’s new listing total was 15.3 per cent above the 10-year average for listings in Greater Vancouver for May.
The general over all ratio between active homes and sold homes for the month of may is 16% which represents a balanced market.
Sales of apartment properties reached 1,156 in May 2012, a decline of 5.9 per cent compared to the 1,228 sales in May 2011, and a decrease of 14.6 per cent compared to the 1,354 sales in May 2010. The benchmark price of an apartment property increased 1.7 per cent from May 2011 to $379,700.
Home Price Measurments / May 2012 / 1 month change / 6 month change / 1 year change
Benchmark Price $379,700 +1.1% +3% +1.7%
Average Price $460,761 +3.4% +6.7% -1.1%
Median Price $379,950 +1.3% +4.1% -1.3%
Home buyers have had a lot of different messages being relayed to them through media and other sources. As a Real Estate advisor I always suggest that each individual speak with a professional who knows their product and specific area. All stats and figures vary dependn't on product and location get the right Realtor on your side.
For your Vancouver Real Estate Specialist contact The Aziz Group.