Rapid Vancouver Price Growth Enlivens Quiet May in Resale Markets
Metropolitan Monthly Monitors: Metro Resale Index June 2011
Metropolitan Monthly Monitors: Metro Resale Index June 2011
Urban City Economic Analysis
$55.00
- Resale market activity remained relatively stable last month. May sales were below April volumes in 14 of our 28 markets, but only 6 areas had drops of 5 per cent or more. Volumes trailed year-earlier activity in 13 markets.
- New listings were also fairly steady. Although up from April in 16 markets, only 3 of those markets saw a gain of 5 per cent or more. And listings were off from year-earlier levels in 17 areas.
- The modest sales drops and listings gains led to a month-over-month drop in the sales-to-listings ratio in May in 18 of our 28 areas. The ratio was above year-earlier levels in 16 locations. Only 2 of our 28 markets are not in a “balanced” stance.
- Vancouver’s average price continues to soar. Elsewhere, the numbers are mixed. Average values fell in 15 markets on a monthly basis in May. But year-over-year price change remains positive in 23 of 28 areas.
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