November REBGV Stats Show Increase in Sales
The Real Estate Board of Greater Vancouver stats are out for the month of November showing sales up 7.4% from October 2010. Home sales continued to indicate a balanced, stable market with slight increases in activity on the buyers side and a decline in the number of properties listed for sale each month since an inventory peak in June of this year.
Regarding price, said REBGV president Jake Moldowan, “Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices. It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”
Prices in Greater Vancouver have increased over the last 12 months by 4.1% to $580,080 since November 2009 and have been relatively unchanged since June of this year.
What does this mean for sellers? Buyers are looking for homes that are priced competitively for today’s market. If you are thinking of selling, contact me for information on recent sales in your neighbourhood and together we can determine a price that will help attract the most buyers in your target market.
For buyers? With interest rates still low and prices remaining stable over the last several months, now is still a great time to purchase a home.
For investors? There are still some great deals to be had in today’s market. If you are thinking about investing in real estate and would like to discuss what might best suit your portfolio, send me an email and we can sit down and go through some listings with prime investment potential.
For the complete stats package, click here