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Home listings rise to start the spring season
The Real Estate Board of Greater Vancouver (REBGV) reports that new listings for detached, attached and
apartment properties in Greater Vancouver totalled 7,004 in March 2010. This represents a 60 per cent increase
compared to March 2009 when 4,385 new units were listed, and a 52.1 per cent increase compared to February
2010 when 4,606 properties were listed on the Multiple Listing Service® (MLS®).
At 13,538, the total number of property listings on the Multiple Listing Service (MLS®) increased 19 per cent
in March compared to last month, but remains 7.6 per cent below this time last year.
“The total number of homes listed for sale on our MLS® is at its highest level in 10 months, which translates
into more options and variety for those looking to buy during the traditionally busy spring period,” Jake Moldowan,
REBGV president said.
Residential property sales in Greater Vancouver reached 3,137 in March 2010, a 38.5 per cent increase compared
to March 2009, a 4.7 per cent increase over March 2008, and a 12.4 per cent decrease compared to March
2007. The current figure also represents a 26.8 per cent increase compared to the 2,473 sales recorded in February
2010.
“With a sales-to-listing ratio of 23 per cent, we see a healthy balance between buyer demand and seller supply
in the marketplace,” Moldowan said.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties
in Greater Vancouver increased 20.3 per cent to $584,435 from $485,845 in March 2009. This price is 2.8
per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at
$568,411.
Sales of detached properties in March 2010 reached 1,336, an increase of 49 per cent from the 897 detached
sales recorded in March 2009 and a 19.7 per cent increase from the 1,116 units sold in March 2008. The benchmark
price for detached properties increased 23.3 per cent from March 2009 to $800,341, but declined 0.6 per
cent compared to last month when the benchmark price was $800,796.
Sales of apartment properties in March 2010 reached 1,252, an increase of 28.3 per cent compared to the 976
sales in March 2009 and a decline of 8.6 per cent compared to the 1,370 sales in March 2008.The benchmark
price of an apartment property increased 17.3 per cent from March 2009 to $395,507 and is up 1.2 per cent compared
to last month when the benchmark price was $390,899.
Attached property sales in March 2010 totalled 549, an increase of 40.1 per cent compared to the 392 sales in
March 2009 and a 7.4 per cent increase from the 511 attached properties sold in March 2008. The benchmark
price of an attached unit increased 17.3 per cent between March 2009 and 2010 to $493,263, but declined 0.5 per
cent compared to last month when the benchmark price was $495,496.

JUNE STATS - CLICK HERE FOR A FULL COMPREHENSIVE REPORT WITH STATISTICS ON:

- Housing Price Index
- MLS Sales & Listings Facts
- Summary of Listings and Sales Activities in Metro Vancouver
- Real Estate Average Price Graph


May market offers buyers greater selection

VANCOUVER, B.C. – June 4, 2010 

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.

In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.

New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®.

At 17,492, the total number of property listings on the MLS® increased 10 per cent in May compared to last month, and is up 28.2 per cent compared to this time last year.

“Prospective home buyers in today’s market have a broad selection to choose from in every property type. REALTORS ® are telling us they’re working with buyers who are not feeling as rushed to make a decision as they did late last year and earlier in the year,” Jake Moldowan, REBGV president said.

Over the last 12 months, the overall MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 16.7 per cent to $590,662 from $506,201 in May 2009.

“It’s important for those looking to buy or sell a home to remember that real estate is local and wise real estate decisions are made by those who understand current market conditions at the neighbourhood level,” Moldowan said.

Sales of detached properties in May 2010 reached 1,256, a decrease of 10.4 per cent from the 1,402 detached sales recorded in May 2009 and a 4.4 per cent increase from the 1,203 units sold in May 2008. The benchmark price for detached properties increased 19.1 per cent from May 2009 to $810,175.

Sales of apartment properties reached 1,354 in May 2010, a decline of 7.1 per cent compared to the 1,458 sales in May 2009 and an increase of 8.8 per cent compared to the 1,244 sales in May 2008.The benchmark price of an apartment property increased 13.9 per cent from May 2009 to $398,783.

Attached property sales in May 2010 totalled 546, a decline of 17.8 per cent compared to the 664 sales in May 2009 and a 1.6 per cent decline from the 555 attached properties sold in May 2008. The benchmark price of an attached unit increased 14.8 per cent between May 2009 and 2010 to $500,339.

CLICK HERE FOR A FULL COMPREHENSIVE REPORT WITH STATISTICS (JUNE 2010)

Information above courtesy of the Real Estate Board of Greater Vancouver 


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