Vancouver’s Real Estate Prices Drop Again in July
by Maggie Chandler on August 2, 2012
in How's The Market
The REBGV graph for July shows Vancouver west average sale price now back to $976,864 and equal to February 2010. Houses dropped slightly to $2,397,038, down from the peak at $2,790,51 but higher than May. Average townhome sale price dropped to $844,131, 9.6% lower than year ago, and condos sit at $574,810 down 8.1% from a year ago. Vancouver real estate market still favours buyers.
How Are Vancouver Property Sales Compared to a Year Ago?
Sales in all categories are still slipping. Vancouver house sales are down 40% from a year ago, after peaking in February this year. Vancouver Townhomes sales in June are down 25% from a year ago. Vancouver Condos peaked in Mar’11 and are down 18% from a year ago. Greater Vancouver sales are below the 10 year low. Sellers dropped an average of 4.5% on condos, 5.5% on townhomes and 7.5% on houses.
Vancouver Real Estate Listings declined in June
Vancouver real estate listings for houses, townhouses and condos peaked in May and are now decreasing. Listings in all categories are higher than a year ago. Vancouver house listings are equal to the peak of Oct’08. Vancouver Condos are lower than the peak in Jun’10 and townhomes are down slightly from the peak in Nov’08. Go out and negotiate yourself a deal!
P.S. I am your Vancouver real estate condo realtor! hyper-local info and decades of experience!
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The REBGV graph for July shows Vancouver west average sale price now back to $976,864 and equal to February 2010. Houses dropped slightly to $2,397,038, down from the peak at $2,790,51 but higher than May. Average townhome sale price dropped to $844,131, 9.6% lower than year ago, and condos sit at $574,810 down 8.1% from a year ago. Vancouver real estate market still favours buyers.
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