The Pearce Team

Service With Integrity

(604) 466-4549

Don's Greater Vancouver Real Estate Market Report

Vancouver Real Estate board overall

 
Single family houses sales for January totalled 664 with the average sale price of $1,145,956. This 16% decrease in number of sales and no change in average price over last year same time period (January) . Townhouse sales for January totalled 261 with an average sale price of $552,696. This is a 16% decrease in the number of sales and no change in average price over the same time period last year (January) . Condominiums January sales totalled 657 with the average sale price of $439,556. This 7% decrease in number of sales and no change in average price over the same time period last year (January).
Total of all types for January was 1582 sales with an average sale price of $754,718. This is a 13% decrease in number of sales and a 1% decrease in average price over January last year.

The volume of sales overall decreased substantially with the very little in price over January last year.

 

*** This is the lowest number of sales since January 2002***

 

Local Maple Ridge

 

Single family houses January sales totalled 41 with the average sale price of $492,350. This a 24% drop in number of sales and a 3%increase in average price year to date compared to January last year. Townhouse January sales totalled 22 with an average sale price $309,628. This is a 15% increase in the number of sales and a 2% decrease in average price compared to last January. Condominiums January sales totalled 13 with the average sale price of $184,487. This 62% increase in number of sales and a 10% decrease in price over last January.Total of all types of sales for January was 76 with an average sale price of $386,796. This is a 6% decrease in number of sales and a 6% decrease in average price over last January.

 

** Note - Our housing market has remained stable in regards to volume and we have seen some minor erosion of prices for the last 12 -18 months. This year has started a little slower than last year but with rates remaining low we see no immediate changes in the market. Global financial uncertainty may continue to affect our market .

 

CMHC is forecasting 2012 to be very similar to 2011 with activity and prices remaining steady.

 
For more detail just call 604-466-4549 or email pearceteam@telus.net .

 

Prime Rate remains stable at 3% with term variable rate mortgages at 2.8% - A $300,000 mortgage at 2.8% for 30 years is $1230 month. Fixed term mortgages are available below 3.5% with some places offering as low as $3.19% for a 5 year fixed.

 

*** Yes! 35 year mortgages are still available - call for details

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