Royal LePage Westside
5970 East Boulevard , Vancouver, British Columbia
P: 604-261-9311
F: 604-261-6648
Friday, December 2, 2011 - Vancouver Westside Real Estate Prices - November 2011
The Real Estate Board of Greater Vancouver has just released the Housing Price Index for November, 2011:
| Benchmark Price | 3 Mo. Avg. | 1 year Change | |
|---|---|---|---|
| Detached (West) | $ 2,019,926 | $ 2,019,783 | + 18.9% |
| Detached (East) | $ 863,183 | $ 853,701 | + 15.9% |
| Townhouse | $ 790,046 | $ 829,715 | + 4.8% |
| Condominium | $ 511,412 | $ 518,476 | + 1.7% |
Comparing the current Benchmark Price with the 3 month average, prices remain stable, with the exception of Townhouses, where sales are sluggish this fall. Much of the Westside's townhouse product attracts the move-up buyer, however, the vast majority of condominium sales currently are in the low end, versus the mid to high end, where buyers can make the move up the property ladder.
Comparing the most recent 3 months to the same time period in 2010, the number of Detached sales are down by 25.8%, Townhouse sales are down 6.5%, and Condominiums are down by 1%. If we compare November 2011 to October 2011, the number of sales remain stable, however, Condominiums are outselling Detached and Townhouses.
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