New stats are hot off the press from the Real Estate Board of Greater Vancouver.
Residential property prices have continued their climb, but sales are the lowest they’ve been in a decade.
Sales of residential properties declined 29.6% in March compared to the same time last year — the second slowest March since 2002 and 16.8 per cent below the 10-year sales average for the month.
The prices for an average home reached $679,000 in Greater Vancouver, an increase of 5.3%
But all is not lost — listings dropped 14% this March from last, but were up 5.2% from February. Total listings are growing nicely too, up 16% this March from last.
“Home sellers have been more active than buyers the first few months of the year, but we continue to see a relative balance in the total supply of homes for sale and current demand in the marketplace,” Eugen Klein, REBGV president said in a release
“The total number of properties for sale in Greater Vancouver has increased each month since December, which means there’s more selection to choose from as we enter what’s traditionally the busiest season of the year in our market,” Klein elaborated.
Okay Vancouver homebuyers and sellers, what’s your take on these stats? Are they an accurate reflection of what you’re experiencing?