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 February totalled 1103 with the average sale price of $1,225,893. This 21% decrease in number of sales and 4% increase in average price over last year same time period (February) . Townhouse sales for February totalled 424 with an average sale price of $557,134. This is a 13% decrease in the number of sales and 2% decrease in average price over the same time period last year (February). Condominiums February sales totalled 1020 with the average sale price of $457,483. This 15% decrease in number of sales and 2% increase in average price over the same time period last year (February).

Total of all types for February was 2547 sales with an average sale price of $806,839. This is a 17% decrease in number of sales and a 1% increase in average price over February last year.

The volume of sales overall decreased substantially with the very little change in price over February last year. The Vancouver Real Estate Board had its quietest January in 10 years and 3rd quietest February in 10 years.

 

Local Maple Ridge

 
Single family houses February sales totalled 88 with the average sale price of $491,468. This a 6% drop in number of sales and a 1% increase in average price compared to February last year. Townhouse February sales totalled 28 with an average sale price $284,155. This is a 6% decrease in the number of sales and a 5% decrease in average price compared to last February. Condominiums February sales totalled 11 with the average sale price of $198,455. This 35% decrease in number of sales and a 5% decrease in price over last February.

Total of all types of sales for February was 127 with an average sale price of $420,382. This is a 9% decrease in number of sales and a 2% increase in average price over last February.

 

** Note - Our local housing market this year has started slower than last year with 8% less sales year to date and Vancouver overall has had 16% less sales year to date. 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 emailpearceteam@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

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.