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.

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If you’ve been following our weekly stats over the last month, none of the conclusions here should come as much of a surprise to you. Decreased overall supply, combined with competitive financing driven demand increases have led to a much tighter market across Greater Vancouver. The downtown markets have seen a notable increase in sales volume, and listing inventory has also began to increase. Attached property on the Westside also continued to improve with detached property to follow in the next 2-3 months.

VANCOUVER, B.C. – May 4, 2009 – With more buyers and fewer homes for sale in recent months, the Greater Vancouver housing market has entered a more moderate and balanced state.

For the sixth consecutive month, new listings for detached, attached and apartment properties declined in Greater Vancouver, down 33.7 per cent to 4,649 in April 2009 compared to April 2008, when 7,010 new units were listed. The total number of property listings on the Multiple Listing Service® (MLS®), while slightly down compared to last month, remains unchanged compared to the same period in 2008.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,963 in April 2009, a decline of eight per cent from the 3,218 sales recorded in April 2008, and an increase of 31 per cent compared to last month.

“We’re seeing greater balance in the housing market, as evidenced by a strong sales to active listings ratio of over 19 per cent,” Scott Russell, REBGV president said. “The result is a relatively stable market in which homes are being realistically priced.

“The bridge between buyer demand and housing supply is continuing to narrow, which, as we see, helps bring stability to home prices,” he said. “The trends in our housing market over the last couple of months offer a much more comfortable, historically normal set of conditions.”

Sales of detached properties declined eight per cent to 1,190 from the 1,293 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 12.2 per cent from April 2008 to $675,268.

Sales of apartment properties in April 2009 declined 10.5 per cent to 1,179, compared to 1,317 sales in April 2008. The benchmark price of an apartment property declined 12.6 per cent from April 2008 to $340,203.

Attached property sales in April 2009 are down 2.3 per cent to 594, compared with the 608 sales in April 2008. The benchmark price of an attached unit decreased 9.7 per cent between April 2008 and 2009 to $431,759.

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

Detached:

Vancouver West                                 up 59.5 per cent (193 units sold from 121)

Attached:

Port Coquitlam                                    up 69.6 per cent (39 units sold from 23)

Richmond                                           up 17.9 per cent (132 units sold from 112)

Vancouver West                                 up 46.3 per cent (98 units sold from 67)

Apartments:

North Vancouver                                up 29.2 per cent (84 units sold from 65)

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We have compiled sales and listings statistics for the period running from March 23rd to March 30th, and released them in this easy to read format! If you have any further questions or require more detail please get in touch with us. Entrance level buyers continued to actively browse the market as showing activity again increased this week, and sales remained at a higher benchmark as we move into early Spring.  New listings have continued to decline (down to 132 from 170 or 22%), which indicates strong market variables amongst sellers who are not ‘afraid to hold onto product’ in a relatively down market.  This demonstrates the continuation of the ‘tightening up’ of the downtown market (and Vancouver West markets in general). As mentioned, we expect the increased buyer activity and great lending conditions to result in an increase in sales as we continue into Spring.

Listing versus Sales update for March 23rd – March 30th

132 new listings in the Vancouver West Region with 72 (55%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 38 (53%)
• Coal Harbour: 9 (13%)
• West End: 9 (13%)
• False Creek North: 16 (21%)

TOTAL : 72

111 total sales in the Vancouver West Region with 66 (59%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 33 (47%)
• West End: 19 (31%)
• Coal Harbour: 5 (4%)
• False Creek North: 9 (18%)

TOTAL : 66

Sales continued their relatively strong performance over the first quarter 2009, moving from 94 sales to 111; the number remains well below seasonal norms but has improved notably over the past 12 weeks.  We expect stronger sales movement to continue through early-Spring.   As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [111 : 132] or 84% – with market equilibrium, and the bottom of the current housing recession now in sight!

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call! And remember to visit www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!

Vancouver Realty Online

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We have compiled sales and listings statistics for the period running from March 16th to March 23rd, and released them in this easy to read format! If you have any further questions or require more detail please get in touch with us. Entrance level buyers continued to actively browse the market as showing activity again increased this week, and sales remained at a higher benchmark as we move into early Spring. In turn, we have seen an increase in mid-grade listing and sales activity. Typically, as entry level property begins to move, we see upwards momentum, which influences the middle to upper tier properties.  We saw a slight decrease in new listings this past week (approximately -20), and another jump in sales activity. This demonstrates the continuation of the ‘tightening up’ of the downtown market (and Vancouver West markets in general). As mentioned, we expect the increased buyer activity and great lending conditions to result in an increase in sales as we continue into Spring.

Listing versus Sales update for March 16th – March 23rd

170 new listings in the Vancouver West Region with 85 (50%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 51 (60%)
• Coal Harbour: 6 (7%)
• West End: 17 (20%)
• False Creek North: 11 (13%)

TOTAL : 85

94 total sales in the Vancouver West Region with 49 (52%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 23 (47%)
• West End: 15 (31%)
• Coal Harbour: 2 (4%)
• False Creek North: 9 (18%)

TOTAL : 49

Sales spiked this past week, moving from 76 sales to 94; the number remains well below seasonal norms though we are getting closer, and have seen stronger sales movement continue through early-Spring. As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [94 : 170] or 56% – finally breaking the 50% mark!

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call! And remember to visit www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!

Vancouver Realty Online

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We have compiled sales and listings statistics for the period running from March 9th to March 16th, and released them in this easy to read format! If you have any further questions or require more detail please get in touch with us.  Entrance level buyers continued to actively browse the market as showing activity again increased this week, and sales remained at a higher benchmark since January.  In turn, we have seen an increase in mid-grade listing and sales activity.  Typically, as entry level property begins to move, we see upwards momentum, which influences the middle to upper tier level properties.  Both new listing supply, and sales figures remained quite stable this past week. This signifies the continuation of the ‘tightening up’ of the downtown market. As mentioned, we expect the increased buyer activity and great lending conditions to result in an increase in sales over the next four weeks.

Listing versus Sales update for March 9th – March 16th

191 new listings in the Vancouver West Region with 108 (57%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 53 (49%)
• Coal Harbour: 12 (11%)
• West End: 24 (22%)
• False Creek North: 19 (18%)

TOTAL : 108

76 total sales in the Vancouver West Region with 36 (47%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 15 (42%)
• West End: 9 (25%)
• Coal Harbour: 7 (19%)
• False Creek North: 5 (14%)

TOTAL : 36

Sales decreased slightly this past week, moving from 81 sales to 76; the number remains well below seasonal norms, but we have seen stronger sales movement continuing through early-Spring. As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [76 : 191] or 40%.

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call! And remember to visit www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!

Vancouver Realty Online

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