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Metro Vancouver real estate prices up 7.5 per cent year over year: report

According to Real Estate Board of Greater Vancouver,  in October, 2011, the home prices in Metro Vancouver area has increased 7.5 percent compared to last year’s October, increased from $579,349 to $622,955.  However, the residential home  price has declined 1.3 percent, compared to June 2011, when it reached peak of $630,921.  The report also stated that the sales volume of detached houses have reached 974, the same as last year.

Furthermore, October’s total new listing has reached 4,374, which is an 18.3 % increase from last year in October where 3,698 homes were listed, and 23% decrease from last month in September, where 5,680 properties were listed. A total of 15,377 properties were listed at the moment, which is 9.3% higher than last year where 14,075 properties were listed.

Finally, the detached home prices in Fraser Valley has creased $530,335, which is a 4.5% increase compared to October 2010, where the price was $505,759, and it’s on par with September’s price.

 

For the full article, please click on the link below:

Vancouver Sun – Nov 3rd, 2011

 

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