VANCOUVER, B.C. – August 3, 2011 – While the balance between home buyer and seller activity remains in an equilibrium range in the Greater Vancouver housing market, last month’s home sale total was below the 10-year average for July.
“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace,” Rosario Setticasi, REBGV president said. “It’s taking, on average, 41 days to sell a property in the region, which is unchanged from June of this year.”
Sales of apartment properties reached 1,040 in July 2011, a 6.2 percent increase compared to the 979 sales in July 2010, and a decrease of 39.1 percent compared to the 1,708 sales in July 2009. The benchmark price of an apartment property increased 4.5 percent from July 2010 to $405,306.