| Thursday, September 2, 2010 Vancouver Sales Statistics - August 2010by Wade Allen on Thu, Sep, 2, 2010 02:28 PM Categories: 1st time home buyers, Buyers, Financing, First Time Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Real Estate, Sales, Statistics, Vancouver Real EstateNumber of Sales still low, Prices staying pretty strong
August in Vancouver saw pretty similar numbers to July, where the number of listings and sales were low in comparison to 2009. They were of course much stronger than 2008 when the sky was falling, and historically the number of sales in Vancouver West for August (516) is actually a pretty average August looking back 10 years.
Doom and gloom seems to be the flavour of the month so far, but it seems to be just headlines backed by loose data and theories that are doing nothing more than selling papers and not giving any real solution.
April 2010 was the "Peak" of the Vancouver market, with average sale prices across Greater Vancouver decreasing 2.8% since then. A typical Vancouver market always peaks in the spring, slumps in the summer (yaaeeeyy SUN!!!), picks up in the fall, and then dies in the winter months.
So why is this year any different? Because there's nothing else to report? Because any bad news is good news for fear mongering?
In a week this will all be old news because summer is over, people are back at it, the markets will pick up, and the September numbers will be strong. Comparing 2010 to 2009 or 2008 are a waste of time because the conditions were completely different. '08 was crash time, '09 was recovery time, and now we seem to be in a nice balanced market........but hey, that's not exciting enough to report.
Friday, July 9, 2010 OPEN HOUSEby Wade Allen on Fri, Jul, 9, 2010 02:23 PM Come view this beautiful home Saturday July 10th from 2-4PM
Wednesday, June 9, 2010 Vancouver Real Estate Statistics - May 2010by Wade Allen on Wed, Jun, 9, 2010 01:13 PM Categories: 1st time home buyers, Buyers, Financing, First Time Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Mortgages, New Developments, Real Estate, Sales, Statistics, Vancouver Real EstateMay market offers buyers greater selection
The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.
In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.
New listings for detached, attached and apartment properties totalled.....CLICK TO READ MORE Wednesday, March 10, 2010 Vancouver Real Estate Statistics - February 2010by Wade Allen on Wed, Mar, 10, 2010 11:22 AM Home Sales Activity Strong through Olympic Period
The Greater Vancouver housing market continued to experience strong demand from homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010.
More broadly, last month’s sales totals marked a 7.6 per cent decline compared to the 2,676 sales recorded in February 2008 and were 13.5 per cent behind February 2007 when 2,859 residential sales were recorded on the Multiple Listing Service (MLS®) in Greater Vancouver.
Friday, October 2, 2009 Buyer demand remains strong while home listings increaseby Wade Allen on Fri, Oct, 2, 2009 02:15 PM c/o REBGV : Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.
“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.
“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
Friday, February 27, 2009 1st time home buyers could lead rebound in Canadian real estateby Wade Allen on Fri, Feb, 27, 2009 11:26 AM How?
Thanks to lower prices and shifting demographics.
A combination of factors are attracting first-time buyers back to the market after they checked out in large numbers at the end of 2008.
National average home prices were down 11 per cent in January compared to a year earlier.
This, along with historically low mortgage rates and a buyers’ market, are working to attract first-time buyers.
And Scotiabank senior economist Adrienne Warren says baby boomers’ children will soon begin to enter the real estate market in droves, further boosting housing sales.
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