Friday Post #2: Vancouver detached home statistics for May 2012

Every month realtor Larry Yatkowsky releases month end real estate data and the information he provides is greatly appreciated.

And as you can see by the graph, the drop in the detached average home prices continues.

The May detached average home price of $1,037,331 is down from February’s high of $1,235,244. It has now dropped 12% Year Over Year (YOY).

As Yatkowsky notes, this is a low not seen since November 2010 when the average was $1,043,161 meaning two years of gains have now been wiped out.

Clearly the combination of rising listings and declining sales is starting to have its effect.

Active listings for detached homes in Vancouver are at an all time high of 7,577 units, up 23% YOY.

Meanwhile sales for detached homes in the City are down 24% YOY.

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