Vancouver Real Estate board overall
Single family houses sales for May totalled 1220 with the average sale price of $1,169,149. This 3% increase in number of sales and 8% increase in average price over last year same time period (May). Townhouse sales for May totalled 534 with an average sale price of $574,881. This is a 3% increase in the number of sales and an increase of 4% in average price over the same time period last year (May).
Condominiums May sales totalled 1136 with the average sale price of $448,768. This a 1% decrease in number of sales and 2% decrease in average price over the same time period last year (May).
Total of all types for May was 2890 sales with an average sale price of $776,176. This is a 1% increase in number of sales and 6% increase in average price over May last year.
The Vancouver Real Estate Board sales volume year to date is down by 12% year to date and year to date average sales price is basically unchanged. The number of active listings is 3% lower this May compared to last May. It would appear that prices have stabilized in both single family and townhouses while condos are still experiencing some decrease in pricing.
Local Maple Ridge
Single family home sales in April totalled 101 with the average sale price of $477,882. This a 17% decrease in number of sales and average price decrease of 7% compared to May last year. Townhouse sales in May totalled 24 with an average sale price $299,916. This is a 36% decrease in the number of townhouse sales and average price has basically remained unchanged from last May. Condominium sales in May totalled 18 with the average sale price of $185,147. This is an 5% increase in number of sales and average price increase of 2% over last May.
Total of all types of sales for May was 143 with an average sale price of $411,166. This is a 19% decrease in number of sales and a 6% decrease in average price over last May.
Spring activity appears to have stabilized our market with a market that is balanced for Buyers and Sellers. The election in May caused a minor slowdown in the market which is typical when we have an election at the federal, provincial or even local level.
The number of properties on the market in Maple Ridge for May is 1007 which is 2% less than last May.
Video update from Greater Vancouver Real Estate Board President
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