{"id":204,"date":"2012-09-10T19:21:25","date_gmt":"2012-09-10T19:21:25","guid":{"rendered":"http:\/\/renerealestate.com\/blog\/?p=204"},"modified":"2012-09-10T19:21:25","modified_gmt":"2012-09-10T19:21:25","slug":"buyers-market-in-vancouver","status":"publish","type":"post","link":"https:\/\/renerealestate.com\/blog\/buyers-market-in-vancouver\/","title":{"rendered":"Buyer’s Market in Vancouver"},"content":{"rendered":"

This is definitely a good time for Buyers to be looking. It will give them plenty of choices and decent prices on properties. In my oppinion this opportunity is not going to last. Around October the market should change to a more ballanced one.<\/p>\n

 <\/p>\n

 <\/p>\n

Home sellers continue to outnumber buyers in Greater Vancouver\u2019s summer housing market
\nHome sale activity remained below long-term averages in the Greater Vancouver housing market in August.
\n<\/p>\n

The Real Estate Board of Greater Vancouver (Home sellers continue to outnumber buyers in Greater Vancouver\u2019s summer housing market Home sale activity remained below long-term averages in the Greater Vancouver housing market in August. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012. August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711. \u201cHome sales this summer have been lower than we\u2019ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices,\u201d Eugen Klein, REBGV president said. New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,044 in August. This represents a 13.7 per cent decline compared to August 2011 when 4,685 properties were listed for sale on the MLS\u00ae and a 15.8 per cent decline compared to the 4,802 new listings in July 2012. \u201cFor sellers it\u2019s critical to work with your REALTOR\u00ae to understand today\u2019s market and to develop the best strategy for selling your home,\u201d Klein said. \u201cOn average it\u2019s taking about two months for a home to sell on the MLS\u00ae in Greater Vancouver today.\u201d At 17,567, the total number of residential property listings on the MLS\u00ae increased 13.8 per cent from this time last year and declined 2.8 per cent compared to July 2012. \u201cToday, our sales-to-active-listings ratio sits at 9 per cent, which puts us in a buyer\u2019s market. This ratio has been declining in our market since March when it was 19 per cent,\u201d Klein said. The MLSLink\u00ae Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver is $609,500. This represents a decline of 0.5% compared to this time last year and a decline of 1.1% compared to last month. Sales of detached properties on the MLS\u00ae in August 2012 reached 624, a decrease of 38.8 per cent from the 1,020 detached sales recorded in August 2011, and a 30.1 per cent decrease from the 893 units sold in August 2010. The benchmark price for detached properties increased 0.2 per cent from August 2011 to $942,100. Sales of apartment properties reached 725 in August 2012, a 24.1 per cent decrease compared to the 955 sales in August 2011, and a decrease of 22.5 per cent compared to the 935 sales in August 2010. The benchmark price of an apartment property decreased 0.9 per cent from August 2011 to $370,100. Attached property sales in August 2012 totalled 300, a 25.6 per cent decrease compared to the 403 sales in August 2011, and a 19.8 per cent decrease from the 374 attached properties sold in August 2010. The benchmark price of an attached unit decreased 1.9 per cent between August 2011 and 2012 to $462,300. EBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.
\nAugust sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.<\/p>\n

\u201cHome sales this summer have been lower than we\u2019ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices,\u201d Eugen Klein, REBGV president said.
\nNew listings for detached, attached and apartment properties in Greater Vancouver totalled 4,044 in August. This represents a 13.7 per cent decline compared to August 2011 when 4,685 properties were listed for sale on the MLS\u00ae and a 15.8 per cent decline compared to the 4,802 new listings in July 2012.<\/p>\n

\u201cFor sellers it\u2019s critical to work with your REALTOR\u00ae to understand today\u2019s market and to develop the best strategy for selling your home,\u201d Klein said. \u201cOn average it\u2019s taking about two months for a home to sell on the MLS\u00ae in Greater Vancouver today.\u201d
\nAt 17,567, the total number of residential property listings on the MLS\u00ae increased 13.8 per cent from this time last year and declined 2.8 per cent compared to July 2012.<\/p>\n

\u201cToday, our sales-to-active-listings ratio sits at 9 per cent, which puts us in a buyer\u2019s market. This ratio has been declining in our market since March when it was 19 per cent,\u201d Klein said.
\nThe MLSLink\u00ae Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver is $609,500. This represents a decline of 0.5% compared to this time last year and a decline of 1.1% compared to last month.
\nSales of detached properties on the MLS\u00ae in August 2012 reached 624, a decrease of 38.8 per cent from the 1,020 detached sales recorded in August 2011, and a 30.1 per cent decrease from the 893 units sold in August 2010. The benchmark price for detached properties increased 0.2 per cent from August 2011 to $942,100.<\/p>\n

Sales of apartment properties reached 725 in August 2012, a 24.1 per cent decrease compared to the 955 sales in August 2011, and a decrease of 22.5 per cent compared to the 935 sales in August 2010. The benchmark price of an apartment property decreased 0.9 per cent from August 2011 to $370,100.
\nAttached property sales in August 2012 totalled 300, a 25.6 per cent decrease compared to the 403 sales in August 2011, and a 19.8 per cent decrease from the 374 attached properties sold in August 2010. The benchmark price of an attached unit decreased 1.9 per cent between August 2011 and 2012 to $462,300.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

This is definitely a good time for Buyers to be looking. It will give them plenty of choices and decent prices on properties. In my oppinion this opportunity is not going to last. Around October the market should change to a more ballanced one.     Home sellers continue to outnumber buyers in Greater Vancouver\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[3,7,12],"tags":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pa0qGx-3i","_links":{"self":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/204"}],"collection":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=204"}],"version-history":[{"count":4,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/204\/revisions"}],"predecessor-version":[{"id":213,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/posts\/204\/revisions\/213"}],"wp:attachment":[{"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renerealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}