Greater Vancouver housing sales cooled off in April after moving at a red-hot pace the previous two months.

Canada’s third-largest metropolitan area saw residential sales of single-family detached, attached and condominium properties decline 21 percent to 3,225 year-over-year, according to the latest report from the Real Estate Board of Greater Vancouver. Sales were off 8.2 percent from March. The board attributed the April sales decline to a slowdown in condo sales.

The board’s benchmark Housing Price Index for all residential properties rose to $622,991 in April, up 5 percent from $593,419. The benchmark represents the sales price of a typical property within the market and is considered a more accurate reflection of prices.

A sales spurt of multimillion-dollar homes in some parts of Vancouver skewed the average sales price of a home nationally, pushing it up to $372,544 in April, according to the Canadian Real Estate Association.

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Sales of apartment properties reached 1,622 in March 2011, a 29.6 per cent increase compared to the 1,252 sales in March 2010 and an increase of 66.2 per cent compared to the 976 sales in March 2009. The benchmark price of an apartment property increased 2.1 per cent from March 2010 to $403.885.

Attached property sales in March 2011 totaled 663, a 20.8 per cent increase compared to the 549 sales in March 2010 and a 69.1 per cent increase from the 392 attached properties sold in March 2009.

The benchmark price of an attached unit increased 3.6 per cent between March 2010 and 2011 to $511,039.

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And please head over to susankeevil.com and coalharbourscondos.com for neighbourhood specific information and listings!

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.

Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.

“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.

At 14,187, the total number of residential property listings on the MLS® increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.

“There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-to-date market evaluation.”

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# 1309 1420 W Georgia St. (GEORGE) – Coal Harbour Open House
List Price : $359,000
Bedrooms : 1
Bathrooms : 1
Square Footage : 533
Tax : $1332 (2010)
MLS # : V877288
Agent Open(s) : Sunday, April 10th from 2pm – 4pm

Come by and say ‘hello’ to the Vancouver Realty Online team.

Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region’s Multiple Listing Service® (MLS®) reaching near record levels. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.

“Our market has had a very strong start to the spring season,” Rosario Setticasi, REBGV president said. “With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it’s clear that home buyers and sellers view this as a good time to be active in their local housing market.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 per cent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 per cent increase. At, 13,110, the total number of residential property listings on the MLS® increased 9.9 per cent in March compared to last
month and declined 3 per cent from this time last year.

“Conditions favour sellers at the moment, but we’re seeing differences in home-price trends and overall activity depending on the region and property type,” Setticasi said.

Please click HERE for the full report.

# 1309 1420 W Georgia St. (GEORGE) – Coal Harbour Open House
List Price : $359,000
Bedrooms : 1
Bathrooms : 1
Square Footage : 533
Tax : $1332 (2010)
MLS # : V877288
Agent Open(s) : Friday, April 1st from 10am – 12pm.

Come by and say ‘hello’ to the Vancouver Realty Online team.

# 1309 1420 W Georgia St. (Downtown)

Great price and location makes this an ideal invesment property or pied-a-terre. Close to world-class shopping on Robson St., Stanley Park, Coal Harbour and the business district. This 1 bdrm (large insuite storage can be used as a den) is in immaculate, move-in condition. Great exercise centre and bike storage.

Price : $359,000
Bedrooms : 1
Bathrooms : 1
Year Built : 2002

Click HERE for more information.

Downtown Attached Market Update March 1st – March 8th :

Attached supply downtown surged ahead this week after remaining relatively static for two consecutive weeks previously; we saw 177 new attached listings this week in the downtown neighbourhoods (up from 131 new attached listings last week), which equated to 63% of the aggregate 281 new attached listings across Vancouver West (up from 255 new attached listings previously).  The downtown neighbourhoods moved ahead of the Westside areas on the supply-side again this week after a fairly even-split previously, with the dens downtown core areas (including Yaletown, Gastown, and downtown proper) accounted for a large ratio of the new supply numbers.  We saw 103 new attached listings in the downtown core neighbourhoods (up from 67 new attached listings last week), which accounted for 58% of all listing activity downtown.  Coal Harbour fell back this week after making supply gains last week, with 16 new attached listings (down from 23 new attached listings last week), well False Creek North again remained stable with 15 new attached listings (the same listing volume we saw last week).  Sellers of attached property downtown have moved to meet a renewed demand we’ve seen building since the onset of 2011, and with the plethora of new supply we expect conditions to move towards equilibrium as buyers demand for new property is met by a flurry of new listing activity.  Keep in mind, however; that Spring is a traditionally popular period for sellers, so the new listing effect may be impacted positively by the time of year as well.

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Downtown Attached Market Update February 14th – February 21st :

Downtown attached listing supply remained stable again this week after increasing through the first two weeks of February.  We saw 131 new attached listings downtown this week (compared to 129 new attached listings in the previous period) , which represented 51% of the overall 255 new attached listings across Vancouver West (down slightly from the 54% we saw previously).  The high-density downtown core areas (Yaletown, Gastown, downtown proper) again led the way on the supply side with 67 new attached listings (which equated to 51% of all listing activity downtown), well Coal Harbour saw an attached supply surge this week with 23 new attached listings (up from 10 new attached listings last week). False Creek North remained stable on the supply side for the third consecutive week with 15 new attacehd listings (compared to 16 new attached listings last week).  Busy buyer activity has prompted a continual introduction of new properties to the market, with an influx of pan-Asian buyers and first time local buyers driving the market at the entry and mid-levels.

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Downtown Attached Market Update February 14th – February 21st :

Downtown attached listing conditions leveled off this week after trending upwards in the previous period; we saw 129 new attached listings across downtown (down slightly from 135 new attached listings last week), which accounted for 54% of the overall 241 new attached listings across Vancouver West (down from the 59% share we saw previously).  The downtown core neighbourhoods continued to demonstrate strong supply conditions as we saw 78 new attached sales across Yaletown, Gastown, and downtown proper (up from 72 new attached listings last week). Coal Harbour saw the bulk of the supply decrease (slight as it may have been) with 10 new attached listings this week (down from 17 new attached listings in the previous period) with False Creek North holding firm at 16 new attached listings (up from 15 new attached listings in the previous period).

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