Metro Vancouver End of December 2012 Stats Update

The New Year started as they typically do, with less homes listed for sale. Total Residential Active Listings in Greater Vancouver are down 30% from November 30, 2012. Total properties listed for sale during December were down 49% to November 2012 and down 16% to December 2011. While sales in December are down from November 2012 and December 2012, we’ve seen that through 2012 so it is not news.

Perspective is the key. Where prices go is anyone’s guess. But considering the financial crisis of 2008 didn’t cause widespread panic selling and significant price drops, than what will? People need bigger homes, people need smaller homes, renters want to own and immigration into Vancouver leads to more buyers. As always, the focus will shift from where prices are going to making your living situation better. As we go forward people will get back to doing what they want and need to do: Moving!

Greater Vancouver: Total Units Sold in December 2012 was 1,171 – down from 1,733 in November 2012; and down from 1,700 in December 2011; Month’s Supply of Total Residential Listings is at 12 Months (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in December 2012 was 49 – down from 77 in November 2012; and down from 62 in December 2011; Total Active Listings as of January 2013 are down 29% from November 2012; Month’s Supply of Total Active Listings is at 14 Months (Buyer’s Market).

Vancouver Westside Condos: Total Units Sold in December 2012 was 156 – down from 241 in November 2012; and down from 262 in December 2011; Total Active Listings as of January 2013 are down 46% from November 2012; Month’s Supply of Total Active Listings is at 10 Months (Buyer’s Market).

Vancouver Eastside Houses: Total Units Sold in December 2012 was 54 – down from 91 in November 2012; and down from 95 in December 2011; Total Active Listings as of January 2013 are down 34% from November 2012; Month’s Supply of Total Active Listings is at 9 Months (Buyer’s Market).

Vancouver Eastside Condos: Total Units Sold in December 2012 was 53 – down from 69 in November 2012; and up from 51 in December 2011; Total Active Listings as of January 2013 are down 32% from November 2012; Month’s Supply of Total Active Listings is at 8 Months (Buyer’s Market).

North Vancouver Houses: Total Units Sold in December 2012 was 32 – down from 60 in November 2012; and down from 53 in December 2011; Total Active Listings as of January 2013 are down 39% from November 2012; Month’s Supply of Total Active Listings is at 9 Months (Buyer’s Market).

North Vancouver Condos: Total Units Sold in December 2012 was 34 – down from 59 in November 2012; and down from 62 in December 2011; Total Active Listings as of January 2013 are down 32% from November 2012; Month’s Supply of Total Active Listings is at 9 Months (Buyer’s Market).

West Vancouver Houses: Total Units Sold in December 2012 was 29 – down from 32 in November 2012; and down from 38 in December 2011; Total Active Listings as of January 2013 are down 31% from November 2012; Month’s Supply of Total Active Listings is at 14 Months (Buyer’s Market).

Richmond Houses: Total Units Sold in December 2012 was 44 – down from 76 in November 2012; and down from 62 in December 2011; Total Active Listings as of January 2013 are down 32% from November 2012; Month’s Supply of Total Active Listings is at 19 Months (Buyer’s Market).

Richmond Condos: Total Units Sold in December 2012 was 54 – down from 81 in November 2012; and down from 75 in December 2011; Total Active Listings as of January 2013 are down 29% from November 2012; Month’s Supply of Total Active Listings is at 14 Months (Buyer’s Market).

If you have any real estate questions or if you are thinking of buying or selling your home, please contact James Louie Chung, Greater Vancouver REALTOR® – Real Estate Agent at [email protected] or call / text ( 6 0 4 ) 7 1 9 – 6 3 2 8 today!

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Photo: Design.Shuffle