The number of residential property sales of detached, attached and apartment properties reached 1,686 on the region's Multiple Listing Service in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012, according to numbers released earlier this month by the Real Estate Board of Greater Vancouver.
November sales were 30.3 per cent below the 10-year November sales average of 2,420.
"Home sellers appear more inclined to remove their properties from the market today rather than lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to moderate," Eugen Klein, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,758 in November. This represents a 14.4 per cent decline compared to November 2011 when 3,222 properties were listed for sale on the MLS and a 36.2 per cent decline compared to the 4,323 new listings in October 2012.
New listings were 12.9 per cent below the 10-year November average of 3,168.
At 15,689, the total number of residential property listings on the MLS increased 13 per cent from this time last year and declined 9.7 per cent compared to October 2012.
Total listings in the region have declined by nearly 3,000 properties since reaching a peak of 18,493 in June.
See www.rebgv.org for more.
