The latest sales stats for Vancouver and the Lower Mainland have just been released. Again we are seeing that we are in a very balanced market, however, sale prices are up significantly from previous years in each category of detached homes, attached properties, and appartment properties.
The biggest gains for Detached Homes have been seen in West Vancouver, North Vancouver, Vancouver East & West, Burnaby, Richmond, New Westminster, South Delta and Squamish. Each of those areas have seen over a 10% increase in sales price over the last year. The worst performing areas were the Sunshine Coast & Pitt Meadows, who both saw decreases in average sale price since last year.
For Attached Homes the best performing areas were North Vancouver, Coquitlam, and Port Coqutlam, while the only area to see a decrease was Pitt Meadows/Maple Ridge.
Appartment properties have not seen any double digit increases but West Vancouver, Vancouver East, Port Moody, and Burnaby all benefitted with modest increases of between 4% to 6.3% on the average sale price over last year. North Vancouver saw the only slight decline with a reduction of only 0.9%.
I hope you find this information helpfull if you are contemplating buying or selling. Ofcourse, if you want a more detailed review of a certain area or property type I can be contacted at 604-616-2678.
For the full November Sales Stats package click here: November 2011
To compare any previous months' sales stats for the Vancouver area you can always refer to this page that is updated on a regular basis: Vancouver Sales Stats
Best Regards,
Cortney Lessard