Vancouver Realty Online

The Real Estate Board of Greater Vancouver presents the Greater Vancouver March 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 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.

Please click HERE for the full report.

Recent reports from the Real Estate Board of Greater Vancouver support Vancouver Realty Online’s recent statistical analysis of the late-Spring market turn-around:

VANCOUVER, BC – A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.

“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”

New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.

Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.

Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.

Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.

Bright spots in Greater Vancouver in May 2009 compared to May 2008:

Detached:	Burnaby	- up 48.9 per cent (140 units sold from 94)
	Maple Ridge/Pitt Meadows	- up 13.4 per cent (144 units sold from 127)
	North Vancouver	- up 31.4 per cent (134 units sold from 102)
	Port Moody/Belcarra	- up 52.6 per cent (29 units sold from 19)
	Richmond	- up 14.0 per cent (170 units sold from 142)
	Vancouver East	- up 11.1 per cent (180 units sold from 162)
	Vancouver West	- up 59.5 per cent (193 units sold from 121)
Attached:	Burnaby	- up 31.5 per cent (96 units sold from 73)
	Maple Ridge/Pitt Meadows	- up 43.8 per cent (46 units sold from 32)
	North Vancouver	- up 31.8 per cent (58 units sold from 44)
	Vancouver West	- up 54.5 per cent (102 units sold from 66)
Apartments:	Burnaby	- up 32.6 per cent (187 units sold from 141)
	North Vancouver	- up 22.6 per cent (103 units sold from 84)
	Richmond	- up 27.4 per cent (200 units sold from 157)
	Vancouver East	- up 28.7 per cent (139 units sold from 108)
	Vancouver West	- up 25.4 per cent (529 units sold from 422)

Vancouver Realty Online is proud to present our integrated MLS Reciprocity search feature!  Users can now use our integrated search page to browse availabe listings, price reductions, and more!  We are one of the first WordPress-backed blog sits to offer full MLS integration, and are very excited to offer our users an even greater degree of real estate related services!

If you’re interested in checking out our search feature please click HERE – or use the new ‘MLS Listing Search’ button in our main navigation menu!

Over the next few weeks all the sites in the Vancouver Realty Network will be coming live with similar MLS Search support!  Yaletown Residences, Coal Harbour Marketing, Vancouver Condos, and Kitsilano’s Homes will all offer neighbourhood specific search and listing features to assist you in staying up to date on the real estate activity in your area!

Cheers

Vancouver Realty Online