Linda Linfoot - Keeping You Informed
Happy New Home!
Welcome to 2012 and to a whole new year of real estate opportunities!
The latest figures from the Real Estate Board of Greater Vancouver (REBGV) show that residential property sales of detached, attached and apartment properties on the region's Multiple Listing Service® (MLS®) reached 2,360 in November, presenting a slight increase compared to the previous month, but a decline compared to November 2010 sales.
REBGV President Rosario Setticasi noted that real estate activity in November 2011 helped put the market in balanced territory, stating, "The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year."
Price-wise, the MLSLink® Housing Price Index benchmark price for all residential properties in Greater Vancouver increased by 7.2 percent, to $622,087 in November 2011 from $580,080 in November 2010. Prices peaked in June 2011, with the benchmark price recorded at $630,921.
While prices rose, a breakdown of November 2011 sales compared to November 2010 sales showed a decrease of 12.8 percent in sales of detached properties, a 4.9 percent decrease in sales of apartment properties, but a 9.1 percent increase in the sale of attached properties. Of course, figures vary throughout the Greater Vancouver area, which is why talking to a real estate sales representative about activity in your particular area of interest should be your first step when considering a move in 2012.
Please call today for the latest updates on local real estate conditions.
