Linda Linfoot - Keeping You Informed
Great Selection and Stable Prices Define Today's Market
The Real Estate Board of Greater Vancouver (REBGV) noted higher home seller activity than buyer activity in Greater Vancouver during the month of January 2012. The new Multiple Listing Service® Home Price Index subsequently reported that overall home prices experienced more stability and less fluctuation compared to the beginning of 2011.
What this means to buyers is that, with the combination of continuous low mortgage rates and a healthy selection of homes to choose from, it's a great time to buy in the Greater Vancouver area. In fact, January's new listings count was the highest January total for Greater Vancouver since 1995!
New listings for detached, attached and apartment properties in Greater Vancouver totaled 5,756 in January 2012. This represents a 19.9 percent increase compared to the 4,801 listings reported in January 2011, and a 253.3 percent increase compared to the 1,629 listings reported in December 2011.
Rosario Setticasi, REBGV President, noted, "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."
"Last month's activity tells us that competition amongst homebuyers 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."
Wondering how much your property might be worth in today's market? Interested in seeing what other homes are selling for? Simply pick up the phone and ask for a no obligation property evaluation or the most recent market updates!
