Vancouver Real Estate board overall
Single family houses sales for May totalled 1184 with the average sale price of $1,073,311. This 24% decrease in number of sales and a 12% decrease in average price over last year same time period (May) . Townhouse sales for May totalled 517 with an average sale price of S551,083. This is a 10% decrease in the number of sales and no change in average price over the same time period last year (May). CondominiumsMay sales totalled 1156 with the average sale price of $461,410. This a 5% decrease in number of sales and no change in average price over the same time period last year (May).
Total of all types for May was 2857 sales with an average sale price of $731,221. This is a 15% decrease in number of sales and a 12% decrease in average price over May last year.
The volume of sales overall continues to decrease substantially over the same month of the previous year. The Vancouver Real Estate Board sales volume year to date is down by 18% and year to date average sales price is down 5%. The number of active listings is 21% higher this May compared to last May. Increased inventory and reduced demand will put downward pressure on prices generally in the lower mainland.
Local Maple Ridge
Single family houses May sales totalled 123 with the average sale price of $517,761. This a 48% increase in number of sales and a 1% decrease in average price compared to May last year. Townhouse May sales totalled 38 with an average sale price $300,866. This is a 34% decrease in the number of sales and a 2% decrease in average price compared to last May. CondominiumsMay sales totalled 17 with the average sale price of $179,923. This 6% increase in number of sales and a 14% decrease in price over last May.
Total of all types of sales for May was 178 with an average sale price of $439,192. This is a 13% increase in number of sales and a 5% increase in average price over last February.
** Note - Our local housing market volume is down by 7% year to date over 2011 and average year to date prices have increased by 4%. The United States has indicated their rates will remain unchanged until 2014. Our rates will likely follow theirs. Global financial uncertainty will continue to affect our market .
The number of properties on the market in Maple Ridge is similar to last year and our prices are virtually unchanged in the last 2 years.
For more detail just call 604-466-4549 or email email@example.com .
Prime Rate remains stable at 3% with term variable rate mortgages at 2.8% - A $300,000 mortgage at 2.8% for 30 years is $1230 month. Fixed term mortgages are available below 3.25% with some places offering as low as $3.19% for a 5 year fixed.
The Pearce Team would like to invite you to attend the best weekend music event in Maple Ridge – The Caribbean Fest! It takes place in downtown Maple Ridge, on 224th Street at Memorial Peace Park on Saturday July 14th and Sunday July 15th from noon til 9pm each night. No addmission, this is a free event with lots of music, a kids zone, caribbean food vendors and a beer garden!
Debi has been involved in organizing this great event for all of its twelve years and would love you to drop by and say hello at the Festival Central tent. Once again they are bringing up a Beach Boy Review Band from California, for the Saturday evening “beach party” portion of the event and lots of Caribbean vibes and food all weekend. Come on out and enjoy the sun!
For more information and pictures from past years please visit
Hope to see you there