Vancouver West Detached Homes – June Sales
Detached home sales in Vancouver West side for the month of June , 2011 at 213 units was slightly lower than the previous month sales of 228 units. The total active listing count remain stable at around 600 homes. When compared to the average past 3-month sales around 218 homes, the inventory of Vancouver West detached homes (MOI) at around 2.75 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 $2.50 million, while the median price was just above $2.2 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.
You can view detached homes for sale in Vancouver west using the link here.