As predicted in earlier Blogs and multiple discussion, The Aziz Group reported a slight decrease in prices coming in The Vancouver Real Estate Market. The Prices have started to dip...This is GREAT news for buyers on the market.
Mortgage rates are expected to stay low through out 2012 (according to Bank of Canada). With prices reported to drop and interest rates at an all time low, I would expect spring of 2012 to be a very busy with a lot of new buyers on the market.
If you have any questions or would like some insight on your local market call THE AZIZ GROUP.
We have attached the new Vancouver Real Estate Board stats below.
The British Columbia Real Estate Association a total of 5,923 MLS® residential unit sales were recorded in February 2012, a decline of 7.6 per cent. The average MLS® residential price was $574,975 in February, 2.1 per cent lower than in February 2011.
Year-to-date, BC residential sales dollar volume declined 9.2 per cent to $5.5 billion, compared to the same period last year. Residential unit sales dipped 6.8 per cent to 9,828 units, while the average MLS® residential price edged back 2.5 per cent to $557,732 over the same period.