Things are getting so bad that Vancouver’s average detached home price declined for five straight months now.
The average price is now down 15.7% from February’s high of $1,235,244 to sit at $1,041,325 – a plunge of $193,919!
And as the August month kicks into high gear, sales are truly collapsing. Results today for all sectors of the market totalled only 49 sales!!
It’s the first sub-50 sales day of the year.
If this keeps up for the rest of the month, July’s numbers will look like a sales bonanza in comparison.
What were sales in July like?
Single Family Home sales in July 2011 vs July 2012:
Richmond: -51%
- Jul/12 = 60 sales
- Jul/11 = 123 sales
West Van: -47%
- Jul/12 = 46 sales
- Jul/11 = 86 sales
Coquitlam: -43%
- Jul/12 = 67 sales
- Jul/11 = 100 sales
Van West: -40%
- Jul/12 = 83 sales
- Jul/11 = 139 sales
Burnaby: -39%
- Jul/12 = 58 sales
- Jul/11 = 95 sales
North Van: -35%
- Jul/12 = 60 sales
- JUl/11 = 92 sales
East Van: -24%
- Jul/12 = 109 sales
- Jul/11 = 144 sales
(Hat Tip VMD)
http://retiringboomer.wordpress.com/2012/08/03/vancouver-market-in-full-retreat/
