In the real estate market, September historically marks the beginning of the fall market, which compared to the summer months is a busier time for real estate sales.
This year has been a little different. Let's look at how different:
- Number of residential properties sold in September 2012 saw a decline of 32.5% compared to September 2011 and a decline of 8.1% compared to August 2012.
- September sales were 41.6% below the 10 year September average of 2,597 units sold.
- New listings in September 2012 in greater Vancouver decliend by 6.3% compared to September 2011 and increased by 31.6% compared to August of 2012.
“Today, our sales-to-active-listings ratio sits at 8 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” said Eugen Klein, REGVB president.
According to Klein, "Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have had some of the largest price increases over the last year or two."
For more information about the current real estate market in Vancouver or to discuss your specific situation, feel free to call me.