Vancouver Market Update – February 2012 | Vancouver Real Estate Blog

Starting the Year off with an East Vancouver Bang…

Vancouver listing and sales statistics for the month of January have started market activity for 2012 at a slower pace than last year. Vancouver Property Sales were down (-3.49%) to 498 from December (516). On the Vancouver West Side, there were 323 sales in January, down (-9.01%) from the previous month.

This January in Vancouver East, Sales were moving a little more than expected, totaling 175. This number is up (+8.85%) from January 2011, and also up from the previous month (8.70%). Benchmark prices have stayed relatively at-par in East Vancouver month-to-month: +0.07%, -0.09% for detached ($827,500) and attached ($516,600) properties. New Listings were up in both areas, reaching 454 in Vancouver East and 1377 in Vancouver West.

Starting off 2012, detached benchmark prices in the Vancouver West are also holding steady, up (+1.10% to $2,204,500). The benchmark price for attached homes is also up (+0.01% at $682,900). The apartment market mirrored inverse trends in Vancouver West and Vancouver East, rising (-1.30%) on the West Side and falling (-0.05%) in East Van.

The Greater Vancouver Real Estate Board’s Official Line:

We’re seeing trends emerge in our market that favour buyers, such as increased selection and
more stability in pricing compared to this time last year,” Rosario Setticasi, REBGV president
said. “Last month’s activity tells us that competition amongst home buyers was reduced in
January, which means that individuals looking to purchase a home had more time to do their
homework, consult with their REALTOR®, and make a decision.”

What's happening in your market Feb 2012

^Vancouver^{listing and sales statistics for the month of January have started market activity for 2012 at a slower pace than last year. Vancouver Property Sales were down (-3.49%) to 498 from December (516). On the Vancouver West Side, there were 323 sales in January, down (-9.01%) from the previous month.}

^{This January in Vancouver East, Sales were moving a little more than expected, totaling 175. This number is up (+8.85%) from January 2011, and also up from the previous month (8.70%). Benchmark prices have stayed relatively at-par in}^{East Vancouver}^{month-to-month: +0.07%, -0.09% for detached ($827,500) and attached ($516,600) properties. New Listings were up in both areas, reaching 454 in Vancouver East and 1377 in Vancouver West.}

^{Starting off 2012, detached benchmark prices in the Vancouver West are also holding steady, up (+1.10% to $2,204,500). The benchmark price for attached homes is also up (+0.01% at $682,900). The apartment market mirrored inverse trends in Vancouver West and Vancouver East, rising (-1.30%) on the}^{West Side}^{and falling (-0.05%) in East Van.}