Attached are the final sales and listings stats for March. A few highlights are:

Greater Vancouver Sales were up 13.5% over February 2012 and while March 2012 sales were down 29.5% from March 2011, they were only slightly down from the average of approximately 3050 for March over the last 20 years. Certainly with 2 weeks of spring breaks staggered through the month depending on the school/city played a part in distracting buyers.

The total number of listings in Greater Vancouver at month end were 16,226 which is up 15% compared to the same time in 2011. But the total new listings that came out in March were down 14.3% compared to March 2011 and down 16.5% to March 2010. The Month’s Supply for Greater Vancouver is at 6 months – a balanced market.

Vancouver West Side: Sales up 12.2% from February 2012 and down 35.4% from March 2011. Total listings are up 22.1% compared to March 2011 but new listings that came out in March were down 24% compared to March 2011 and down 29.1% compared to March 2010. The Month’s Supply is at 5 months – again a balanced market.

Vancouver West Side Detached: Sales down 14.2% from February 2012 and down 46.4% from March 2011. Total listings are up 62.7% from March 2011 with a 6 Month’s Supply currently available. Pricing is key as competition among sellers is strong!

Vancouver West Side Condos: Sales down 22% from February 2012 and down 32.2% from March 2011. Total listings are up 11.4% from March 2011 and down 4.4% from March 2010 with a 5 Month’s Supply currently available.

Vancouver East Side: Sales up 25.3% from February 2012 and down 25.4% from March 2011. Total listings are up 23.1% from March 2011 with a 4 Month’s Supply currently available.

Vancouver East Side Detached: Sales up 24% from February 2012 and down 31.8% from March 2011. Total listings are up 8.4% from March 2011 and down 11% from March 2010 with a 3 Month’s Supply currently available – tight supply allowing for multiple offers and competition amongst buyers.

Most areas are seeing balanced market conditions with North Vancouver and East Vancouver seeing a tighter supply, especially in the detached market. Richmond saw improvements in activity month’s supply dropping in the townhouse and condo market with activity from first time buyers. Houses continue to be in over supply though and as such pricing is extremely important.