Monday, June 7, 2010 May 2010 Market Stats - Listings Up, Sales Downby Agnes Pau (RE/MAX Sabre Realty Group) on Mon, Jun, 7, 2010 12:04 PM The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.
In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.
“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.
The market has leveled out. It is no longer a seller's market, but what is called a "balance" market. Sellers can expect it to take longer to sell and buyers can expect to have more to choose from and more time to look over a property before making an offer.
Here's a video summary of the May 2010 market stats:
Contact me if you have any questions about the market.
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