As a follow up to my recent blog on April 2012 property markets, here is a general overview for the Greater Vancouver area:
Greater Vancouver – 2,837 Sales, down 2.2% from March
2012. At month’s end there were 17,559 active listings, a 6 Month’s Supply of
properties (Balanced Market).
Vancouver West Side – 550 Sales, down 10.5% from
March 2012. At month’s end there were 3,386 active listings, a 6 Month’s Supply
of properties (Balanced Market).
Vancouver West Side Houses – 130 Sales, down 14.5%
from March 2012. At month’s end there were 949 active listings, a 7 Month’s
Supply of properties (going towards a Buyer’s Market)
Vancouver West Side Condos – 360 Sales, down 8.7%
from March 2012. At month’s end there were 2,090 active listings, a 6 Month’s
Supply of properties (Balanced Market).
Vancouver East Side – 341 Sales, up 1.5% from March
2012. At month’s end there were 1,302 active listings, a 4 Month’s Supply of
properties (trending towards Seller’s Market).
Vancouver East Side Houses – 135 Sales, down 12.9%
from March 2012. At month’s end there were 549 active listings, a 4 Month’s
Supply of properties (up from 3 months in March) still in a Sellers’ Market.
Vancouver East Side Condos – 152 Sales, up 10.1% from
March 2012. At month’s end there were 565 active listings, a 4 Month’s Supply
of properties (Seller’s Market).
West Vancouver Houses – 83 Sales, up 6.4% from March
2012. At month’s end there were 475 active listings, a 6 Month’s Supply of
properties (Balanced Market) – with some exceptions of quicker sales happening.
North Vancouver Houses – 118 Sales, down 2.5% from
March 2012. At month’s end there were 33 active listings, a 3 Month’s Supply of
properties (Seller’s Market with very low inventory levels).
Richmond – 307 Sales, flat to March 2012. At month’s
end there were 2,552 active listings, an 8 Month’s Supply of properties
(Buyer’s Market continues).
In most markets, the amount of homes available for sale are
growing creating a balancing to Buyer’s Market in some cases. Richmond is still
firmly entrenched in a Buyer’s Market. Pricing remains steady and with sales
levels below typical amounts for April, pricing needs to be sharp for sellers.
Buyers are active and there are opportunities for them to act on.
That's it for April 2012. I am looking forward to the May markets as first time buyers have started to come back putting a new energy into things. Let's see what happens. And remember: It always helps to talk to an informed, educated and connected Realtor for great inside information, advice and regular market updates to help you stay ahead of the game and make informed educated decisions.
Good luck everyone!
Regards
Gerry
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