Don's Greater Vancouver Real Estate Market Report

Vancouver Real Estate board overall

Home Sale Activity Improves but Remains Below Historical Averages

Single family houses sales for March totalled 941 with the average sale price of $1,176,642. This 20% decrease in number of sales and 1% increase in average price over last year same time period (March). Townhouse sales for March totalled 432 with an average sale price of $550,266. This is a 13% decrease in the number of sales and an decrease of 7% in average price over the same time period last year (March).Condominiums March sales totalled 982 with the average sale price of $456,358. This a 17% decrease in number of sales and 2% increase in average price over the same time period last year (March).

Total of all types for March was 2355 sales with an average sale price of $761,393. This is a 18% decrease in number of sales and no change in average price over March last year. 

 
The total number of sales ran about 18% below the same month in the previous year with minimal change in average price in single family and 7% decrease in townhouses and a 2% increase in condos. The Vancouver Real Estate Board sales volume year to date is down by 21% year to date and year to date average sales price is down by 2%. The number of active listings is 1% higher this March compared to last March. It would appear that house prices are stabilizing in single family and condos and that we are still experiencing some decrease in pricing for townhouses.

Local Maple Ridge

Single family houses March sales totalled 76 with the average sale price of $466,641. This a 20% decrease in number of sales and average price decrease of 11% compared to March last year. Townhouse March sales totalled 24 with an average sale price $297,883. This is a 22% decrease in the number of sales and average price decrease of 1% compared to last March. Condominiums March sales totalled 11 with the average sale price of $192,082. This is an 21% increase in number of sales and average price decrease of 8% over last March.

Total of all types of sales for March was 111 with an average sale price of $402,944. This is a 20% decrease in number of sales and a 9% decrease in average price over last March.

Low volume of sales will continue to put downward pressure on prices.

The number of properties on the market in Maple Ridge for March is 916 which is 4% below last March.

The Real Estate Board of Greater Vancouver Housing Market Update for March 2013 with REBGV president Sandra Wyant video link. Click below. 

http://www.youtube.com/watch?v=9Yj5CqVZX6I&feature=youtu.be

For more detail just call 604-466-4549 or email

pearceteam@telus.net .