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Monday, October 3, 2011
Vancouver Westside Real Estate market Update for September 2011
September is typically a transitional month for the local real estate market as folks return back to normal routines after the summer break. In most years the September / Fall Real Estate market does not begin to gain momentum until the latter part of the month. As we close September this year the same can be held true.
We have compiled several stats below which will provide an overview of Vancouver’s Westside Housing market. September housing sales slowed from both July and August levels with the supply levels increasing. We now have approx. 8 months housing supply on the Westside versus less than 3 months supply back in the month of March.
Westside Housing ( Single Family Homes)
Westside Housing ( Condos & Town homes)
Please keep in mind these figures are for Vancouver’s Westside only up until September 2011. Based on current market conditions, the Condo and Town Home market looks stable across Vancouver’s Westside.
The Housing ( Single Family Homes) market looks like it has softened in the past month with almost 8 months housing supply.
We cannot help but think the recent turmoil in the global financial markets is weighing on individuals decisions to buy a home. How this all plays out in our housing market is yet to be seen. Everyone has a varying opinion.
If you have any questions or would like specific information regarding the market value of your home we are always available to help.
Have a great day.