Current Inventory - detached homes: around 3.9 months
- townhouses: around 5.8 months
- condos: around 5.3 months The spike up in new listings and lower sales for the month had resulted in the market easing up. Buyers are able to find a wider selection of homes as compared with the month before. The overall current list/sale ratio for
Vancouver West real estate at around 5 months is edging to a more balanced market. The supply of detached homes is still low at around 3.9 months inventory. If the pace of new listings continue at current level, the pressure on home prices going up is reduced.
Market Sentiment The year-over-year home prices for January 2010, showed significant price gains for detached homes and condos at over 20%. The townhouse price gain of 16.5% is less dramatic, but still very respectable.
The increase in the supply of
condos helped to ease the tight supply situation greatly. First time home buyers are active in this market segment, and they will continue to play a vital role in condo sales the next few months. The pending HST implementation in July 2010, and talks of higher interest rates in April may prompt more buyers to get into the market the next month or two.
You can view detached homes listed for sale in Vancouver West and Downtown Vancouver condos here.
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