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Market balanced in Vancouver: real estate board

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guest | 06 Jul 2011, 03:04 PM Agree 0

Summarizing June statistics, the REBGV noted sales were up 9.8% from last year and the benchmark house price has risen 8.7% since last year to reach $630,921.“With sales below the 10-year average and home listings above what’s typical for the month, activity in June brought closer alignment between supply and demand in our marketplace,” said Rosario Setticasi, REBGV president. “With a sales-to-active listings ratio of nearly 22%, it looks like we’re in the upper end of a balanced market.”Setticasi pointed out the largest price increases have remained in the detached-home market on the west side of the city and in West Vancouver.“Since the end of May, the benchmark price of a detached home rose more than $147,000 on the west side of Vancouver and over $80,000 in West Vancouver,” he said. “Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.”Apartment sales were only slightly up in June to 1,266 from 1,258 a year before. The benchmark apartment price was up 3.5% from June 2010 to $405,000.Attached property sales were down 8.7% from a year earlier to reach 525. But the benchmark price was up 6% for an attached unit compared to last year, reaching $522,424.Much of the latest increase in price for Vancouver has been attributed to foreign-Chinese investors over the past year, but a new report out said most of these buyers were actually Chinese immigrants already in Canada.
  • James | 08 Jul 2011, 02:46 AM Agree 0
    Market is moving toward balance this summer because there's increase number of home sellers vs buyers.

    The Real Estate Board of Greater Vancouver (REBGV) reports that all Vancouver real estate properties reached 3,262 in June 2011, a 9.8% increase compared to the 2,972 sales in June 2010 and a 3.4% decline compared to the 3,377 sales in May 2011.

    Source: http://www.myrealsearch.ca/market-balanced-in-vancouverreal-estate-blog-190021.html
  • James | 08 Jul 2011, 03:46 AM Agree 0
    Market is moving toward balance this summer because there's increase number of home sellers vs buyers.

    The Real Estate Board of Greater Vancouver (REBGV) reports that all Vancouver real estate properties reached 3,262 in June 2011, a 9.8% increase compared to the 2,972 sales in June 2010 and a 3.4% decline compared to the 3,377 sales in May 2011.

    Source: http://www.myrealsearch.ca/market-balanced-in-vancouverreal-estate-blog-190021.html
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