Residential Outlook
Spring Offers Great Residential Opportunities
Vancouver, B.C. May 2, 2006 - The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 3,345 units in April 2006, a decrease of 17.3 per cent compared to April 2005's 4043. This figure also represents a decrease of 18.5 per cent over April 2004 when 4,103 sales were recorded.
Sales of attached properties decreased 12.9 per cent in April 2006 to 539 sales, compared to 619 sales in April 2005. The benchmark price of an attached unit is 0,163, up 16.7 per cent from a year ago.
Sales of detached properties decreased 17.7 per cent in April 2006 to 1,440 sales, compared to 1,749 sales in April 2005. The benchmark price of a detached unit is 0,947, up 19.7 per cent from last year.
More than 63 per cent of residential properties sold in April 2006 were sold below the Greater Vancouver average price of 2,845.
Bright spots in Greater Vancouver in April 2006 compared to April 2005:
Attached:
Maple Ridge/Pitt Meadows up 27.7% (60 units sold, up from 47)
Coquitlam up 9.8% (45 units sold, up from 41)
Sunshine Coast up 46.1% (19 units sold, up from 13)
Apartments:
Port Moody/Belcarra up 71.4% (24 units sold, up from 14)
Port Coquitlam up 26.3% (48 units sold, up from 38)
Maple Ridge/Pitt Meadows up 21.7% (28 units sold, up from 23)
Detached:
West Vancouver/Howe Sound up 74.5% (82 units sold, up from 47)
The Real Estate Industry is a key economic driver in British Columbia. In 2004, dollar volume sales of homes in Greater Vancouver set a new record at more than $13.8 billion. Based on this figure, BC home sales in 2004 generated over $1 billion in related sales. The Real Estate Board of Greater Vancouver is an association representing more than 8,100 realtors. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®, and works with industry affiliates to address issues that impact the real estate consumer.
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David Valente
www.davidvalente.com
Prudential Sussex Realty
Committed Service. Real Estate Sales.
Valente Real Estate North Vancouver. Real Estate West Vancouver. Real Estate Downtown Vancouver. Real Estate in the Lower Mainland. Buy and Sell Real Estate.