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2012 Year End Housing Market Update

Thursday, January 10, 2013
by The Axfords

The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest decline in home sale prices in 2012.  The regions total sales of 25,032 homes is the second lowest since 2000 and 25% below the 10 year average in Greater Vancouver.  The number of listings (58,379) is slightly above the historical averages.   On average, homes are taking 73 days to sell.

During the first half of the year, home prices were on the rise and reached an all time high in May.  Since then home prices have declined about 6% with the largest declines of detached properties seen in Richmond and Vancouver west side and the apartments in Whistler and West Vancouver.

 

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Housing Update

Tuesday, February 14, 2012
by The Axfords

Home Sellers have been more active than home Buyers to start off the new year. Even though there were 1,577 sales in January this was a 5% decline over January 2011(which makes it the second lowest sales total in the last decade). On the other hand, the number of listings increased 20% from last January making it the highest total for new listings since 1995!  And the total number of listings in Greater Vancouver is 12.5% higher than December 2011.

These factors offer pricing stability and more selection which is great news for Buyers.

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