Diane Birk
Royal LePage Westside
5970 East Boulevard , Vancouver, British Columbia
P: 604-261-9311
F: 604-261-6648
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Wednesday, February 8, 2012 - Vancouver Westside Real Estate Prices - January 2012

January 2012 Housing Price Index - Vancouver
  Benchmark Price 3 Month Change 1 Year Change
Detached (Westside) $ 2,204,500 -0.2% + 21.4%
Detached (Eastside) $ 837,500 + 0.7% + 12.9%
Townhomes $ 682,900 + 6.5% - 8.9%
Condominiums $ 472,600 + 2.0% + 4.8%

In the month of January, there seemingly was a large increase in the inventory of homes for sale, but in reality, many of those new listings were actually properties that were on the market in the fall of 2011 that did not sell because of overpricing.  Compared to last year, we are seeing more selection for buyers and stability in pricing, where properties are priced to reflect the change in the market.  At the moment, the Westside market experiences a more traditional winter market, with slower sales in January, gradually improving in February.  With historic bargain basement interest rates, expect to see a stable market in all categories for the coming year.

posted in Market News at Wed, 08 Feb 2012 12:27:50 -0800



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