When Vancouver home buyers and sellers ask me how’s the Vancouver real estate market, I ask them what neighbourhood and type of property are they referring to? The REBGV stats for May show vancouver (west side) house prices are continuing to fall, with the average sale price now $2,244,174, down from the peak at $2,790,51. Average townhome price is currently $908,451, compared to $915,054 a year ago, and condos sit at $627,335 compared to $629,104 a year ago. Condos are outperforming houses and townhouses – more affordable and a local market. A good buyers market in all Vancouver real estate categories.
How Are Vancouver Property Sales Compared to a Year Ago?
Vancouver house sales are down almost 50% from a year ago, after peaking in February this year. Vancouver Townhomes sales in May are down 30% from a year ago. Vancouver Condos are performing the best with sales in a steady increase since January and only slighly less than May’11.
How are Vancouver Real Estate Listings?
Vancouver real estate listings for houses, townhouses and condos have been climbing since January. Vancouver Houses are equal to the peak of Oct’08. Vancouver Condos are higher than a year ago but lower than the peak in June’10.
P.S. I am your Vancouver real estate condo realtor!
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