Vancouver West Detached Homes – May Report

June 20, 2011

in Vancouver real estate, Vancouver west homes

Vancouver West Detached Homes – May Sales

Detached home sales in Vancouver West side for the month of May , 2011 at 228 units was at around the same level the previous month of 214 homes.  The total  active listing count remain stable at around 600 homes. When compared to the average past 3-month sales around 240 homes, the inventory of Vancouver West detached homes (MOI) at around 2.50 months is definitely a Seller’s Market with strong buying pressure to move home prices higher.

The limited supply and fairly strong demand for homes continued to keep home prices high, and there is no sign of a slowing down in buying activities from home buyers.

The overall market sentiment is strong and there are many home buyers ready and willing to buy in spite of home prices already moved up by more than 15% over the past 4 months.

Current market outlook

With fewer choices for home buyers, sellers are listing their homes at higher prices than comparable homes that were sold in recent months.  The average Vancouver West home  price is now hovering around $2.45 million, while the median price was just above $2.0 million.  With limited supply of new listings, the current price level for Vancouver West detached homes is expected to remain positive with pricing pressure to move home prices higher.

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You can view detached homes for sale in Vancouver west using the link here.

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