Tuesday, April 3, 2012

High Inventories in Vancouver

Vancouver is at high inventories for March. New listings just yesterday were 450. Falling sales, increasing inventory.

REBGV March 2012 Statistical Report
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,874 on the Multiple Listing Service® (MLS®) in March 2012. This represents a 12.9 per cent increase compared to the 2,545 sales recorded in February 2012, a decline of 29.6 per cent compared to the 4,080 sales in March 2011 and an 8.4 per cent decline compared to the 3,137 home sales in March 2010.

March sales in Greater Vancouver were the second lowest total for the month in the region since 2002 and were 16.8 per cent below the 10-year sales average for the month.
Full package can be found at the blog of Realtor Mike Stewart.
Greater Vancouver MLS Inventory (Note some data late 2007 early 2008 interpolated because REBGV stopped reporting total inventory during this time.)
Vancouver Home Sales
Vancouver Home Prices

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