Summer housing market trends toward balance after an active spring season
VANCOUVER, B.C. – July 5, 2011 –Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings
Service® (MLS®) in June, drawing the market back toward balance this summer.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached
and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June
2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This
represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS®
and a 2.3 per cent decline compared to the 5,931 new listings reported in May 2011.
Last month’s new listing total was 9.8 per cent higher than the 10-year average for June, while residential sales
were 7.3 per cent below the ten-year average for sales in June.
“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,” Rosario Setticasi, REBGV president
said. “With a sales-to-active-listings ratio of nearly 22 per cent, it looks like we’re in the upper end of a balanced
market.”
Full statistics...
Service® (MLS®) in June, drawing the market back toward balance this summer.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached
and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June
2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This
represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS®
and a 2.3 per cent decline compared to the 5,931 new listings reported in May 2011.
Last month’s new listing total was 9.8 per cent higher than the 10-year average for June, while residential sales
were 7.3 per cent below the ten-year average for sales in June.
“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,” Rosario Setticasi, REBGV president
said. “With a sales-to-active-listings ratio of nearly 22 per cent, it looks like we’re in the upper end of a balanced
market.”
Full statistics...