August 6 2009

Homes for Sale - Vancouver BC Market Conditions July 2009

by brook

What happens when you combine low interest rates with affordable pricing? In Vancouver, BC - where residents have their choice of either urban or suburban living at their finest - the result is highly favorable home sale numbers! In fact, early July reports indicate that 2009 was the second all-time highest total for the month of June in Vancouver.

Homes For Sale-Vancouver Market

Just how good were these numbers? The Real Estate Board of Greater Vancouver (REBGV) reported that sales of detached and attached alike increased 75.6%, year-over-year from June 2008. Total sales were 4,259; to spare you from doing the math, that 75.6% reflects only 2,425 sales from last year. What was that first all-time high? It was 4,333, and it took place in June 2005 – yep, it was in the midst of the boom. So this summer’s record is quite a feat!

Despite these impressive figures, the number of new listings in Vancouver actually decreased by 17.9 percent (year-over-year from 2008). The total active listings in Vancouver currently sit at 13,252; experts aren’t necessarily alarmed by this, attributing it to the swiftly occurring sales. After all, when houses are flying off the market, the figure is sure to go down quickly. If a move to Vancouver is enticing to you – or, you’re a local looking to take the homeowner plunge – this can be a great time to seek out a deal.


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