Vancouver Realty Online

The Real Estate Board of Greater Vancouver presents the Greater Vancouver November 2010 statistics package including monthly sales and listing data plus long-run price and sales figures.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in
Greater Vancouver totalled 2,509 in November 2010. This represents a 7.4 per cent increase compared to October
2010 and an 18.6 per cent decline from the 3,083 sales in November 2009.

Looking back further, last month’s residential sales represent a 187.1 per cent increase over the 874 residential sales in November 2008, a 13 per cent decline compared to November 2007’s 2,883 sales, and a 6.4 per cent increase compared to the 2,358 sales in November 2006.

“Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June,” Jake Moldowan, REBGV president said.

Total active residential property listings in Greater Vancouver currently sit at 12,384, a 12.1 per cent decline from last month and a 12 per cent increase from November 2009. New listings for detached, attached and apartment properties declined 17.1 per cent to 3,030 in November 2010 compared to November 2009 when 3,653 new units were listed.

“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” Moldowan said. “It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 4.1 per cent to $580,080 in November 2010 from $557,384 in November 2009. This price has remained virtually unchanged since June of this year.

Please click HERE for the full report.

Wishing you and yours a safe, happy holiday season and a fantastic New Year!  Good luck in 2011!

If you’re interested in real estate market updates during the holiday season please check-out our MLS Market Update, which offers real time market updates 24/7.   The software features mapping technology, community info, and direct access to Vancouver’s Multiple Listing exchange so you can find how much the house down the street sold for, and how long it took to sell!

Please click HERE for a brief demo of the service.

Vancouver Realty Online presents our Downtown Vancouver Market Update for the period running from December 13 – December 20 courtesy susankeevil.com…

Downtown Attached Market Update December 13 – December 20 :

Aggregate confirmed attached sales volume trended downwards marginally for the second consecutive week after peaking during the final weekend of November, as we saw 80 confirmed attached sales across Vancouver West this week (down slightly from 86 confirmed attached sales in the previous period).  Despite the overall decrease in sales volume, the downtown neighbourhoods actually saw a market increase over this period as there were 58 confirmed attached sales downtown, which accounted for 73% of all attached sales activity across Vancouver West (up from 47 confirmed attached sales or 68% in the previous week). The downtown proper neighbourhoods (including Yaletown, Gastown, and the downtown city centre) again accounted for the largest sales activity due mostly to density and geo-social factors with 34 confirmed attached sales.  Coal Harbour and False Creek North continued to remain relatively stable with 7 and 8 confirmed attached sales in each area.  Our sales to listing ratio remained very tight in the downtown areas this week as we again saw confirmed sales out-pace new listing supply with 58 confirmed attached sales to 47 new attached listings for a 123% saturation rating.

Please click HERE for the full article.

We are proud to present our Westside market reports for the period running from December 13 – December 20 courtesy susankeevil.com…

Westside Vancouver Attached Report December 13 – December 20:

Westside attached supply bounced back this week after falling for four consecutive weeks previously; we saw 36 new attached listings across the Westside this week (up from 22 new attached listings in the previous period), which accounted for 43% of the 83 new attached listings in Vancouver West. The high-density areas of Kitsilano and Fairview remained the most active listing neighbourhoods with 9 and 8 new attached listing in each neighbourhood respectively. December has been marked by the steady absorbtion of any excess listing supply as fewer sellers opt to list their attached properties through the Christmas period.  We expect listing volume to continue to demonstrate growth through the beginning of the New Year with a possible brief stall around the official Christmas holiday week.

Please click HERE for the full article.

Westside Vancouver Detached Report December 13 – December 20:

Along with a drop in available detached listing supply on the Westside, we also saw a fall in confirmed sales volume with 27 confirmed detached sales this week (down from 37 confirmed detached sales in the previous week).  This was the second consecutive week we witnessed a fall in sales volume as the continual fall in available product have forced some buyers to wait out the market, and see what is available in the busier post-holiday periods.  Despite the fall, Dunbar remained heavily in demand among potential detached buyers with 10 confirmed detached sales this week (especially notable when you compare that number to the 1 new detached listing in the neighbourhood); well Point Grey came in second with a much more moderate 3 confirmed detached sales.  Our detached sales to listing ratio remained geared towards sellers, however; as we saw 27 confirmed detached sales to just 17 new detached listings for a 159% saturation rating.

Please click HERE for the full article.