Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411.“This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before.”The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009. “We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said.New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year.In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years.Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209.Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945.Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.keep up to date with vancouver’s changing market, subscribe via RSS or email

when it’s time to buy or sell vancouver real estate, contact Maggie, an experienced realtor since 1981

Greater Vancouver Property Prices Rise 12.4% from November 2008 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Vancouver’s Downtown condo market has seen listings stabilize since April, sales stabilize since June and the average selling price unchanged since June. Monthly Sales remain the highest since Jan’08.  Condos that  “expired” and didn’t sell increased from 33 to 42 (vs. 78 in Jan) and only 7 got re-listed.   Average days on the market for condos that sold dropped to 25 and are the lowest since Jan’08. The average sale price for Downtown condos is $439,000 and higher than a year ago. The average $ pr sq ft for condos that sold is up to $611 and is the highest for this year.  A whopping 80% of the sales were under $500,000 and only 2 over $1M. The supply is flat for the last 3 months at 2.3 months (vs.16 months in October). Best selling price range is under $500,000 and over $1M is the slowest.  List price to sales price ratio is the highest for the year at 99%.  The market will remain steady until we see an increase in listings

Listings -436.  Least expensive $168,000 for 1 bd 558 sq.ft.. Most expensive -$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.

Listings Inventory -  18 listings Downtown under $300,000.  92 between $300K and $400K.  106 listings between $400K and $500K.  124 condos listed between $500K and $700K.  47 listed between $700,000 and $1M.  46 listed over $1M, including 3 over $3M.

Supply - 1.5 months under $300,000 (down from 11 months in December).  1 months inventory for Vancouver Downtown condos listed between $300,000 and $400,000.  2 months supply for condos listed between $400K and $500K .  4.4 months supply between $500K and $700K. 6.7 months between $700,000 & $1,00,000. 23 months over $1M.

2008 Listings -  Jan 420, Feb 457  ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782, Sept 742, Oct 744, Nov 804, Dec 545

2009 Listings – Jan 547, Feb 548, Mar 426, Apr 416, May 415 , Jun 437, Jul 441, Aug 436

Sales - 189.  12 sold under $300,000.  88 sold between $300,000 and $400,000.  52 sales between $400,000 and $500,000. 28 sold between $500,000 and $700,000 and 7 sold between $700,000 & $1M. Two sales over $1 million. 

Most expensive -  1287 sq.ft. Penthouse at Pure on Hornby $1,099,000

Least expensive - $234,000 for 530 sq ft 1 bedroom which sold for $110,000 in 1992

2008 Sales - Jan 109, Feb 137 , Mar 139, Apr 114, May 86, June 102, July 65, Aug 69, Sept 62, Oct 47, Nov 34, Dec 32

2009 Sales – Jan 52, Feb 90, Mar 129, Apr 117, May 117, Jun 176, Jul 188, Aug 189

Supply (number of months)  Oct 16 ,Nov 23 , Dec 17.  Jan’09 - 10,  Feb 6, Mar 3.3, Apr 3.6, May 3.5, Jun 2.4, Jul 2.3, Aug 2.3

2008 Average Days on Market -  May 32, Jun 32, Jul 39, Aug 46 , Sept 50, Oct 48, Nov 42, Dec 78

2009 Average Days on Market – Jan 56, Feb 49, Mar 51, Apr 49, May49 , June 32, Jul 30, Aug 25

2008 Average Selling Price - Dec  $425,715 , Nov  $435,088, Oct $411,768,  Sept $379,000, Aug $408,824, Jul  $460,017 Mar $450,048, Feb $424,838

2009 Average Selling Price – Jan $413,171, Feb $371,831, Mar $404,040, Apr $391,929, May $391,929, Jun $421,392, Jul 439,124, Aug $432,000

2008Average Sale Price $ pr sq ft - Dec $553,  Nov $567, Oct $562, Sept $565, Feb $616, Mar $646

2009 Average Sale price $ pr sq ft – Jan 547, Feb 544, Mar $531, Apr $543, May $  , Jun $595, Jul $601, Aug $611

2008 List to Sale Price Ratio  Dec 94%  ,Nov 94%, Oct 95%, Sept 96%

2009 List to Sale Price Ratio  Jan 95%, Feb 95%, Mar 96%, Apr 96%, May 97%  , June 98%, Jul 98%, Aug 99%

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Downtown Vancouver Real Estate Analysis for August 2009 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Kits condo market inventory continues to drop to the lowest level since we started this analysis 18 months ago.  Vancouver real estate market analysis for Kitsilano condos saw July sales up and higher than any of the last 18 months.   Listings dropped to a low of 78, half of what they wee a year ago. Average price for solds increased from $421,000 to $460,866 and for the last 2 months is higher than it was a year ago.   Average Days on the market for sold condos increased from 26 to 35,  List price to sale price ratio steady at 100%. Half the sales sold at or above list.  Average $ psf for sold condos up to $572. July saw an increase to 25% of the sales over $500,000.  Kits condo supply down from 9 months in January to a low of only 1.5 months. The one bedroom market is very tight with only 39 listings and sales in July.  There was an increase in listings that didn’t sell or were cancelled - tonal of 10.  Where does it go from here? Unless there is an increase in inventory prices will continue to climb.

Listings- 78. 8 listed under $300,000.  17 listed between $300,000 and $400,000. 25 listings between $400,000 and $500,000. 14 listings between $500,000 and $600,000 and 11 listed between  $600,000 & $800K. 3 listings between $800k and $900k.  Currently there is 2 studios listed, 39 are one bedrooms and 37 are 2 bedrooms.

2008 Listings -Dec  117 , Nov 171,  Oct  187, Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130

2009 Listings – Jan 104, Feb 107, Mar 122, Apr 107, May 87, June 81, July 78

Sales 50 -  4 sold under $300,000. 16 sold between $300,000 and $400,000.  17 sold between $400,000 and $500,000. 7 sold between $500,000 and $600,000 and 5 sold over $600,000 & $800K. and 1 sold over $1M.

28 were one bedrooms, no studios and 22 were 2 bedrooms.

Least expensive -$275,000 for 637 sq-ft l bdrm ($432 pr sq ft). This condo sold new for $210,000 6 years ago. Least expensive 2 bedroom $423,000 for 706 sq.ft. ($512 pr sq ft). This condo sold new in 1997 for $197,000

Supply - 2 months inventory under $300,000. just over 1.2 inventory for condos between $300,000 and $500,000. 2 months between $500,000 and $600,000 and 2 months between $600K & $800K.

2008 Sales - Jan 26, Feb 44 , Mar 20, Apr 42, May 45, June 35, July 38, August 25, Sept 24, Oct 15 , Nov 12, Dec 12

2009 Sales – Jan 11, Feb 28, Mar 48, Apr 43, May 41, June 46, July 50

2008 Average Days on the market  – January 27, February 18, March 18.  April 28, May 28, June 28, July 43, August 37, Sept 32, Oct 36, Nov 44, Dec 68

2009 Average Days on the market – Jan 68, Feb 38, Mar 35, Apr 32, May 33, June 26, Jul  35

2008 Average Sale Price -  Jan $449,600, Feb $486,260 Mar $451,000, Apr $ 476,452, May $492,063, Jun $ 398,350, Jul $439,663 , Aug 416,240, Sept $408,159, Oct $427,850, Nov $408,250, Dec $440,000

2009 Average Sale Price - Jan $440,400, Feb $416,800, Mar $406,841, Apr $414,283, May $396,114, June $421,042, July 460,866

2008 Average Selling Price pr sq ft  - Dec $498 , Nov $511 , Oct $518, Sept $555

2009 Average Selling Price pr sq ft – Jan $498, Feb $511, Mar $515, Apr $519, May $523, June $557, Jul $572

Sale price to list price ratio – Dec 95%, Nov  95%, Oct 96%, Sept 97%

Jan’09 - 95%, Feb 95%, Mar 96%, Apr 98%, May 98%, June 101%, Jul 100%

Viewmy other posts for Kitsilano or search for Kitsilano listings.  When you’re ready to buy or sell Kitsilano or Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981. subscribe via RSS or email

Vancouver Real Estate Analysis for Kitsilano, July 2009 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

The average price of houses, townhouses  dipped slightly in July, compared to June. Condo prices continued to climb. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present.  The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn’t appreciate much between 1990 and 2002 but they did between 2002 and 2008 and prices are back to where they were in mid to late 2006.  Both Listings and sales decreased in July. Normal summer market.

Following are the stats for Vancouver West Side

Listings – in July there were a total of 1069 new listings vs 1128  in June.  In March  there were 904. In July  2008 there were 1300 new listings.  Total new listings for Jan-July 2009 were 4,571. Same period for 2008 were 7,294.

Sales -  in July there were a total of 774 west side sales vs 949 in June. In July 2008 there were 439.  In March 2009 there were 539. Year to date sales 4,488 . Same period last year  3,093

1 Year change in Benchmark Price for Resale condos – down 2.6% . Townhomes are down 4.5% and houses are down 3.6%.

Benchmark Price for resale condos over the last 5 years -  condos are up 55.7%,  townhomes are up 55.1% and houses are up 64.4%

When you’re ready to buy or sell  Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981.

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Vancouver Real Estate Graphs for July 2009 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Just released from REBGV

The Greater Vancouver housing market gained further momentum in July with record sales levels and a continued strengthening of home prices.The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 4,114 in July 2009, becoming the highest volume of sales ever recorded within the REBGV for that month, outpacing the 4,023 sales in July 2003, which is the only other year that July sales exceeded the 4,000 mark.Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 9.2 per cent to $528,821 from $484,211. However, home prices compared to July 2008 levels are down 5 per cent.“Home sales this summer are seasonally higher than normal, which is due in large part to the price correction that has taken place in the last year and low interest rates,” Scott Russell, REBGV president said. “Although wellpriced listings and lower-to mid-range priced properties remain in the highest demand across Greater Vancouver, recent activity from first-time buyers is beginning to boost demand in the “move-up” segment of the market.”New listings for detached, attached and apartment properties declined in Greater Vancouver, down 17.4 per cent to 5,041 in July 2009 compared to July 2008, when 6,104 new units were listed. At 12,482, the total number of property listings on the Multiple Listing Service® (MLS®) declined 5.8 per cent compared to last month and 34 per cent compared to July 2008.“It is currently taking, on average, 48 days for a home to sell in the region. Today’s market activity differs by area and property type and it’s important to tap into local housing market expertise to understand why some properties are attracting multiple offers, while others are not moving,” Russell said.July 2009 home sales declined 3.4 per cent compared to June 2009, but are up 89.2 per cent when measured against the 2,174 sales recorded in July 2008.Sales of detached properties in July increased 95.2 per cent to 1,614 from the 827 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 5.5 per cent from July 2008 to $711,702. Since the beginning of the year, the benchmark price for detached properties in Greater Vancouver has increased 9.8 per cent.Sales of apartment properties in July 2009 increased 76.8 per cent to 1,708, compared to 966 sales in July 2008. The benchmark price of an apartment property declined 4.3 per cent from July 2008 to $365,291. Since the beginning of the year, the benchmark price for apartment properties in Greater Vancouver has increased 9.6 per cent.Attached property sales in July 2009 are up 107.9 per cent to792, compared with the 381 sales in July 2008. The benchmark price of an attached unit decreased 4.6 per cent between July 2008 and 2009 to $452,085. Since the beginning of the year, the benchmark price for attached properties in Greater Vancouver has increased 6.8 per cent.

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

DETACHED:    Burnaby up 121.7 per cent (153 units sold from 69)   North Vancouver up 53.3 per cent (115 units sold from 75)   Maple Ridge/Pitt Meadows up 60 per cent (160 units sold from 100)   Richmond up 140.2 per cent (221 units sold from 92)   Vancouver East up 66.4 per cent (208 units sold from 125)   Port Coquitlam up 236.4 per cent (74 units sold from 22)   Vancouver West up 104.5 per cent (180 units sold from 88)   South Delta up 203.1 per cent (97 units sold from 32)   West Vancouver up 108.1 per cent (77 units sold from 37)   Sunshine Coast up 60.5 per cent (69 units sold from 43)   ATTACHED:    Burnaby up 123.3 per cent (134 units sold from 60)   Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)   North Vancouver up 70 per cent (51 units sold from 30)   Vancouver West up 110 per cent (105 units sold from 50)   Richmond up 152.1 per cent (179 units sold from 71)   Vancouver East up 195.8 per cent (71 units sold from 24)   Port Coquitlam up 117.6 per cent (37 units sold from 17)   Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)   Coquitlam up 88.2 per cent (64 units sold from 34)    APARTMENTS:    Burnaby up 72.8 per cent (235 units sold from 136)   North Vancouver up 47.9 per cent (105 units sold from 71)   Richmond up 85.5 per cent (230 units sold from 124)   Vancouver East up 64.2 per cent (179 units sold from 109)   Vancouver West up 94 per cent (584 units sold from 301)   New Westminster up 70.6 per cent (116 units sold from 68)   Coquitlam up 62.3 per cent (86 units sold from 53)   Port Moody/Belcarra up 138.1 per cent (50 units sold from 21)  

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board’s area generating $1.03 billion in spin-offs.

When you’re ready to buy or sell  Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981. Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email.

Greater Vancouver Real Estate Sales Strongest July Ever is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Vancouver’s Downtown condo market saw listings up slightly to 437  and are the lowest since January 2008.  52 condos expired and came off the market(vs. 78 in Jan) and only 6 got relisted. Sales spiked from 117 to 176 and are by far the highest for the last 18 months.  Average days on the market for condos that sold dropped to 32. The average price for Downtown condos that sold is up to $421,929 but lower than a year ago. The average $ pr sq ft for condos that sold is up to $595 and is the highest for this year.  A whopping 83% of the sales were under $500,000 and only 2 over $1M. Downtown Vancouver only has a 2.4 months supply of condos (vs.16 months in October). Best selling price range is under $400,000. Market also tight between $400,000 to $500,000.  List price to sales price ratio now up to 98%

Listings -437. Least expensive $188,000 for 1 bd 558 sq.ft. ($356 pr sq ft).bank sale sold “as is, where is”. Most expensive -$3.4M assignment for the Atelier Penthouse on Robson (2700 sqft)

Listings Inventory -  32 listings Downtown under $300,000.  103 between $300K and $400K.  94 listings between $400K and $500K.  131 condos listed between $500K and $700K.  30 listed between $700,000 and $1M.  36 listed between $1M and $2M and 6 over $2M.

Supply - 1.4 months under $300,000 (down from 11 months in December).  1.3 months of inventory for Vancouver Downtown condos listed between $300,000 and $400,000.  2 months supply for condos listed between $400K and $500K .  5 months supply between $500K and $700K. 15 months between $700,000 & $1,00,000. 36 months between $1 & $2M and 6 months over $2M.

2008 Listings -  Jan 420, Feb 457  ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782, Sept 742, Oct 744, Nov 804, Dec 545

2009 Listings – Jan 547, Feb 548, Mar 426, Apr 416, May 415 , Jun 437

Sales - 176.   22 sold under $300,000.  79 sold between $300,000 and $400,000.  45 sales between $400,000 and $500,000. 25 sold between $500,000 and $700,000 and 2 sold between $700,000 & $1M. One sale between $1 & $2M  and 1 sold over $2 million. 

Most expensive – $1,350,000 for 1700 sqft Penthouse in Yaletown which sold under $1,350,000 as a pre-sale in 2005

Least expensive - $220,000 for 430 sq ft studio which sold for $165,000 in ‘05

Least expensive 2 bedroom  $380,000 for 925 sq.ft. This condo last sold new for $156,000 in 1996.

2008 Sales - Jan 109, Feb 137 , Mar 139, Apr 114, May 86, June 102, July 65, Aug 69, Sept 62, Oct 47, Nov 34, Dec 32

2009 Sales – Jan 52, Feb 90, Mar 129, Apr 117, May 117, Jun 176

Supply (number of months)  Oct 16 ,Nov 23 , Dec 17.  Jan’09 - 10,  Feb 6, Mar 3.3, Apr 3.6, May 3.5, Jun 2.4

2008 Average Days on Market -  May 32, Jun 32, Jul 39, Aug 46 , Sept 50, Oct 48, Nov 42, Dec 78

2009 Average Days on Market – Jan 56, Feb 49, Mar 51, Apr 49, May49 , June 32

2008 Average Selling Price - Dec  $425,715 , Nov  $435,088, Oct $411,768,  Sept $379,000, Aug $408,824, Jul  $460,017 Mar $450,048, Feb $424,838

2009 Average Selling Price – Jan $413,171, Feb $371,831, Mar $404,040, Apr $391,929, May $391,929, Jun $421,392

2008Average Sale Price $ pr sq ft - Dec $553,  Nov $567, Oct $562, Sept $565, Feb $616, Mar $646

2009 Average Sale price $ pr sq ft – Jan 547, Feb 544, Mar $531, Apr $543, May $  , Jun $595

2008 List to Sale Price Ratio  Dec 94%  ,Nov 94%, Oct 95%, Sept 96%

2009 List to Sale Price Ratio  Jan 95%, feb 95%, Mar 96%, Apr 96%, May 97%  , June 98%

If you are a Downtown Vancouver condo buyer are you feeling more confident about the market? Are you experiencing multiple offers?

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Vancouver Real Estate Analysis for Downtown June 2009 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province rose 40 per cent to 9,970 units in June 2009 compared to the same month last year. Activity in the month of June marked the fifth consecutive month of rising sales and the highest level of activity since January 2008, on a seasonally adjusted basis. 

“Housing markets around BC continued to post higher sales in June, fuelled by attractive mortgage rates and lower prices,” said Bryan Yu, BCREA Economist. “The larger urban regions of Greater Vancouver and Victoria exhibited balanced market conditions in June, while others have recorded improved market stability. Stronger demand and a decline in home listings are stabilizing home prices in many BC markets.”

Year-to-date, MLS® residential sales dollar volume was down 20 per cent to $16.3 billion over the same period last year. A total of 36,329 units were sold in the first six months of 2009, down 15 per cent from 2008, while the average MLS® price declined 5 per cent to $448,381.

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BCREA Graph Shows Vancouver Homes Sales Climb for 5th Consecutive Month is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Above are the Vancouver real estate graphs for June for houses, townhouses and condos on Vancouver’s west side. The houses performed slightly different to the townhouses and condos.

Condo listings continue to decrease and are now less than 1500 from nearly 2500 a year ago, the monthly new listings are up slightly but much less than a year ago.  Sales have increased every month since January and are the highest for the past 12 months.  For the year, the busiest price range remains $300,000 to $450,000 . Year to Date over $1 Million saw 104 sales  in Vancouver West Side (up from 30 for the first quarter). Total of 2270 sales for the year. 

Townhouse listings are lower than one year ago. The new listings for the month are up slightly but lower than a year ago. The sales for the month of June are the highest they have been for the last 12 months. Busiest price range is $500,000 to $650,000. 51 Sales over $1M. Total of 433 sales for the year.

House listings peaked in September and are 40% less than a year ago. . New listings for the month are up slightly but less than a year ago.  Sales are at the highest level for the  last 12 months and decreased slightly in June. There were 691 (up from 195 in March) sales over $1 million for the year and a total of 916 for the year. Prices levelling?

 In all 3 categories the market bottom in Dec/Jan and prices started moving up in March. Sales have been rising all year and listings declining.

when you’re ready to buy or sell your Vancouver  condo, contact Maggie, an experienced realtor marketing Vancouver homes since 1981.  Please fill out my contact form

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Vancouver Real Estate Graphs for June 2009 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

REBGV just released Vancouver real estate numbers for June, as follows.

The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said.
 
“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880. The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.

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

Detached:Burnaby up 109.7 per cent (151 units sold from 72)Coquitlam up 122.2 per cent (160 units sold from 72)Delta – South up 107.7 per cent (56 units sold from 27)Maple Ridge/Pitt Meadows up 54.3 per cent (162 units sold from 105)New Westminster up 104.8 per cent (43 units sold from 21) North Vancouver up 96.2 per cent (153 units sold from 78)Port Moody/ Belcarra up 120 per cent (33 units sold from 15)Richmond up 77.4 per cent (204 units sold from 115)Squamish up 107.7 per cent (27 units sold from 13)Sunshine Coast up 33.9 per cent (75 units sold from 56)Vancouver East up 71.2 per cent (238 units sold from 139)Vancouver West up 85.2 per cent (200 units sold from 108)West Vancouver/Howe Sound up 117.8 per cent (98 units sold from 45)
 Attached:Burnaby up 81.8 per cent (140 units sold from 77)Coquitlam up 80 per cent (54 units sold from 30)Maple Ridge/Pitt Meadows up 48.6 per cent (55 units sold from 37)North Vancouver up 121.2 per cent (73 units sold from 33)Port Coquitlam up 82.6 per cent (42 units sold from 23)Port Moody/ Belcarra up 77.3 per cent (39 units sold from 22)Richmond up 84.5 per cent (155 units sold from 84)Vancouver East up 118.5 per cent (59 units sold from 27)Vancouver West up 121.8 per cent (122 units sold from 55)
 Apartments: Burnaby up 60.4 per cent (239 units sold from 149)Coquitlam up 93.9 per cent (95 units sold from 49)New Westminster up 57.1 per cent (121 units sold from 77)North Vancouver up 71.4 per cent (120 units sold from 70)Port Coquitlam up 58.1 per cent (49 units sold from 31)Port Moody/Belcarra up 128.6 per cent (48 units sold from 21)Richmond up 54.1 per cent (225 units sold from 146)Vancouver East up 58.7 per cent (165 units sold from 104)Vancouver West up 87.2 per cent (627 units sold from 335)West Vancouver/Howe Sound up 155.6 per cent (23 units sold from 9) The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board’s area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org. Note: The MLSLink® Housing Price Index (HPI), established in 1995, is modeled on the Consumer Price Index (CPI) which measures the rate of price change for a basket of goods and services including food, clothing, shelter, and transportation. Instead of measuring goods and services, the HPI measures the change in the price of housing features. Thus, the HPI measures typical, pure price change (inflation or deflation).The HPI benchmarks represent the price of a typical property within each market. The HPI takes into consideration what averages and medians do not – items such as lot size, age, number  keep up to date with vanouver’s fast changing market, subscribe via RSS or email

Vancouver Real Estate Sales for June 75% Higher than June 2008 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

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® (MLS®) 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)

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board’s area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit

when you’re ready to buy or sell vancouver real estate contact maggie who has been marketing vancouver condos since 1981

keep up to date with vancouver’s changing real estate market and subscribe via RSS or email

Vancouver Real Estate Sales in May Up from May 2008 is a post from: Vancouver Real Estate-Vancouver Homes For Sale