| 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.
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 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.
Wednesday, August 5, 2009 Strong spring market carries into summer monthsby Wade Allen on Wed, Aug, 5, 2009 06:25 PM VANCOUVER, B.C. – August 5, 2009 – 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)
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