January Real Estate
January 2013
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release indicates that sub par Real Estate averages continue in January and speculates that many Greater Vancouver Sellers, no longer wanting to fish have elected to cut bait. This supposition seems verified by the fact that even though overall supply is up 5.6 percent year to year, January 2012 versus January 2013 records new listings down 10.9 per cent. While the ongoing annual depression is now shallower, last month compared to January 2012 still sees sales activity decreasing 14.3 per cent in all sectors. From January 2012 to January 2013 benchmark residential prices of all properties decline 2.8 per cent.
The graph shows a continuing upward trend for detached sale price with the average increasing from December to January by 6.9 per cent. Yearly detached benchmark prices for the area are down by 3.1 per cent last month as opposed to January 2012. The year to year volume of house sales declines by 17.8 per cent.
Comparing January of 2012 to last month Vancouver west yearly detached prices decline again, this time by 7.5 percent. Year to year detached sales on the west side stay down but only drop 3.4 per cent. From January to January the inventory plummets 30.6 per cent.
December to January sales of west side houses are a startling surprise, increasing dramatically by 69.4 per cent. Meanwhile west side sellers are clearly not as reluctant as those in other areas of Greater Vancouver as the month to month inventory shoots up 243.8 per cent.
Set against January 2012, last month detached east side house prices turn negative although only by declining 0.5 per cent. Year to year Vancouver east sales stay significantly negative, dropping 39.7 per cent. Meantime inventory takes a turn downward with a 20.4 per cent drop from January to January.
From December to January sales of east side houses actually go up month to month by a modest 3.7 per cent. At the same time we see inventory turn dramatically positive with an increase of 201.6 per cent.
The graph shows a nice upturn from December to January in the average Greater Vancouver condominium sale price with an increase of 6.1 per cent. Last month compared to January 2012 the overall benchmark apartment price sees a dip down of 2.9 percent. Year to year the volume of condo sales declines 12.3 per cent.
Last month compared to January 2012 the year to year benchmark price for west side apartments falls 3.3 per cent. January 2012 to January 2013 Vancouver west condo sales drop by 5.2 per cent. Meantime west side year to year inventory shows a decrease of 12 per cent.
From December to January Vancouver west apartment unit sales move to the positive with an impressive increase of 28.2 per cent. Month to month inventory levels also turn around, ballooning up 345.8 per cent.
Vancouver east apartment unit prices in January again show an increase, up 1.2 per cent from January 2012. East side condo sales however head to the minus column, dropping 16.1 percent last month compared to twelve months previous. Year to year east side condo inventory sees a decline of 10.2 per cent.
From December to January east side apartment unit sales creep into the positive increasing by 7.5 per cent. Meantime inventory gets a huge boost onto the plus side, jumping up of 278.4 per cent month to month.
The graph shows a turnabout in the monthly average price of attached units for Greater Vancouver from December to January with a 2.3 per cent increase. Year to year benchmark prices for townhouses see a decrease of 1.7 per cent. Last month the overall attached unit sales decline 10.7 per cent compared to January 2012.
Vancouver west townhouse properties see prices turn positive last month versus January 2012 with an increase of 3.2 per cent. West side attached unit sales also swing to the plus side, up 11.5 per cent year to year. All this while inventory sees a yearly decrease of 13.5 per cent.
From December to January monthly west side attached sales fall 3.3 per cent. Meantime the month to month inventory level escalates upwards by 336 per cent.
Attached please find the latest statistics from the Greater Vancouver Real Estate Board.
The News Release indicates that sub par Real Estate averages continue in January and speculates that many Greater Vancouver Sellers, no longer wanting to fish have elected to cut bait. This supposition seems verified by the fact that even though overall supply is up 5.6 percent year to year, January 2012 versus January 2013 records new listings down 10.9 per cent. While the ongoing annual depression is now shallower, last month compared to January 2012 still sees sales activity decreasing 14.3 per cent in all sectors. From January 2012 to January 2013 benchmark residential prices of all properties decline 2.8 per cent.
The graph shows a continuing upward trend for detached sale price with the average increasing from December to January by 6.9 per cent. Yearly detached benchmark prices for the area are down by 3.1 per cent last month as opposed to January 2012. The year to year volume of house sales declines by 17.8 per cent.
Comparing January of 2012 to last month Vancouver west yearly detached prices decline again, this time by 7.5 percent. Year to year detached sales on the west side stay down but only drop 3.4 per cent. From January to January the inventory plummets 30.6 per cent.
December to January sales of west side houses are a startling surprise, increasing dramatically by 69.4 per cent. Meanwhile west side sellers are clearly not as reluctant as those in other areas of Greater Vancouver as the month to month inventory shoots up 243.8 per cent.
Set against January 2012, last month detached east side house prices turn negative although only by declining 0.5 per cent. Year to year Vancouver east sales stay significantly negative, dropping 39.7 per cent. Meantime inventory takes a turn downward with a 20.4 per cent drop from January to January.
From December to January sales of east side houses actually go up month to month by a modest 3.7 per cent. At the same time we see inventory turn dramatically positive with an increase of 201.6 per cent.
The graph shows a nice upturn from December to January in the average Greater Vancouver condominium sale price with an increase of 6.1 per cent. Last month compared to January 2012 the overall benchmark apartment price sees a dip down of 2.9 percent. Year to year the volume of condo sales declines 12.3 per cent.
Last month compared to January 2012 the year to year benchmark price for west side apartments falls 3.3 per cent. January 2012 to January 2013 Vancouver west condo sales drop by 5.2 per cent. Meantime west side year to year inventory shows a decrease of 12 per cent.
From December to January Vancouver west apartment unit sales move to the positive with an impressive increase of 28.2 per cent. Month to month inventory levels also turn around, ballooning up 345.8 per cent.
Vancouver east apartment unit prices in January again show an increase, up 1.2 per cent from January 2012. East side condo sales however head to the minus column, dropping 16.1 percent last month compared to twelve months previous. Year to year east side condo inventory sees a decline of 10.2 per cent.
From December to January east side apartment unit sales creep into the positive increasing by 7.5 per cent. Meantime inventory gets a huge boost onto the plus side, jumping up of 278.4 per cent month to month.
The graph shows a turnabout in the monthly average price of attached units for Greater Vancouver from December to January with a 2.3 per cent increase. Year to year benchmark prices for townhouses see a decrease of 1.7 per cent. Last month the overall attached unit sales decline 10.7 per cent compared to January 2012.
Vancouver west townhouse properties see prices turn positive last month versus January 2012 with an increase of 3.2 per cent. West side attached unit sales also swing to the plus side, up 11.5 per cent year to year. All this while inventory sees a yearly decrease of 13.5 per cent.
From December to January monthly west side attached sales fall 3.3 per cent. Meantime the month to month inventory level escalates upwards by 336 per cent.