April Detached Benchmark: $818,403
May Detached Benchmark: $810,175
May Detached Benchmark: $810,175
Benchmark all Properties April: $593,419
Benchmark all Properties May: $590,662
Benchmark Attached April: $502,399.
Benchmark Attached May : $500,339
Benchmark Apartment April : $397,77
Benchmark Apartment May : $398,783
10% decline in sales from last month and last year.
48% more new listings in May, than a year ago.
Total listings up 10% from last month and 28% higher than last year.
Ok, so it's not time to whip off your clothes and have a thong part on your balcony, but it is a danged good start.
Detached Average price is down the $40K that Larry said (kudos again)
Now we also know why it took them so long to bring out the report. Those rascals in the FVREB had already taken the word abundance. So the committee had to come up with another word to indicate exploding inventory and declining sales. da..da...
May market offers buyers greater selection
Here is the whole report. Note there are some (-) signs appearing in the 3 year column (Chad). That would mean the benchmark is already down from 3 years ago eg Squamish detached and Maple Ridge apartment.
It's small yet, but from small acorns, mighty oaks do grow:
