News Release
FOR IMMEDIATE RELEASE
March-2010REBGV-Stats-Package.pdf
Home listings rise to start the spring season
VANCOUVER, B.C. – April 6, 2010 – A steady influx of new listings has helped create a balanced ‘typical
spring’ housing market in the Greater Vancouver region.
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.
Residential property sales in Greater Vancouver reached 3,137 in March 2010, a 38.5 per cent increase compared
to March 2009, a 4.7 per cent increase over March 2008, and a 12.4 per cent decrease compared to March
2007. The current figure also represents a 26.8 per cent increase compared to the 2,473 sales recorded in February
2010.
“With a sales-to-listing ratio of 23 per cent, we see a healthy balance between buyer demand and seller supply
in the marketplace,” Moldowan said.
Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties
in Greater Vancouver increased 20.3 per cent to $584,435 from $485,845 in March 2009. This price is 2.8
per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at
$568,411.
Sales of detached properties in March 2010 reached 1,336, an increase of 49 per cent from the 897 detached
sales recorded in March 2009 and a 19.7 per cent increase from the 1,116 units sold in March 2008. The benchmark
price for detached properties increased 23.3 per cent from March 2009 to $800,341, but declined 0.6 per
cent compared to last month when the benchmark price was $800,796.
Sales of apartment properties in March 2010 reached 1,252, an increase of 28.3 per cent compared to the 976
sales in March 2009 and a decline of 8.6 per cent compared to the 1,370 sales in March 2008.The benchmark
price of an apartment property increased 17.3 per cent from March 2009 to $395,507 and is up 1.2 per cent compared
to last month when the benchmark price was $390,899.
Attached property sales in March 2010 totalled 549, an increase of 40.1 per cent compared to the 392 sales in
March 2009 and a 7.4 per cent increase from the 511 attached properties sold in March 2008. The benchmark
price of an attached unit increased 17.3 per cent between March 2009 and 2010 to $493,263, but declined 0.5 per
cent compared to last month when the benchmark price was $495,496.
Download the complete stats package:
March-2010REBGV-Stats-Package.pdf
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