Settling Into Solid Sales
The Real Estate Board of Greater Vancouver (REBGV) reported a solid, more "typical" month of residential home sales on the Multiple Listing Service® (MLS®) in April, compared to the near record pace experienced in the two preceding months.
Residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 percent decrease compared to the 3,512 sales in April 2010, and a 21 percent decline compared to the exceptional 4,080 sales in March 2011.
Rosario Setticasi, REBGV president, explained, "The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year."
Setticasi also noted, "While it continues to be a seller's market in Greater Vancouver, last month's activity brought greater balance between supply and demand in the overall marketplace."
At 14,187, the total number of residential property listings on the MLS® increased 8.2 percent in April compared to March 2011, and declined 10 percent from April of last year.
"There's considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area," Setticasi said. "Your local REALTOR® is a valuable resource for obtaining the most accurate, up- to-date market evaluation."
Whether you're thinking of making a move, or are just curious about the prices in your immediate area, it's always interesting to see which direction the market is trending.
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