News Release

FOR IMMEDIATE RELEASE

Home listings withdraw as sales volume slows

VANCOUVER, B.C. – February 3, 2009 – The fi rst month of 2009 saw a continued reduction in the
number of homes listed for sale in Greater Vancouver, while sales volumes in January were the lowest
for that month since the early 1980s.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and
apartment properties declined 58.1 per cent in January 2009 to 762 from the 1,819 sales recorded in
January 2008.
New listings for detached, attached and apartment properties declined 20.9 per cent to 3,700 in January
2009 compared to January 2008, when 4,675 new units were listed. Total active listings in Greater
Vancouver currently sit at 13,966, down nearly 6,000 listings from October 2008.
Overall residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined
10.9 per cent to $489,007 between Januarys 2008 and 2009.
“Home sales and consumer confi dence are at a low point at the moment, but the long-term strength
and security of our housing market are beyond the reach of the economic clouds of today,” Dave Watt,
REBGV president said.
“Today’s short-term conditions are creating long-term opportunities. Buying opportunities have not
been this strong in a decade, with low interest rates, broad selection and more affordable prices,” Watt
said.
Sales of detached properties declined 54.4 per cent to 292 from the 641 detached sales recorded during
the same period in 2008. The benchmark price for detached properties declined 11.2 per cent to
$659,638 in January 2009 compared to $742,490 January 2008.
Sales of apartment properties in January 2009 declined 58 per cent to 361, compared to 860 sales in
January 2008. The benchmark price of an apartment property declined 11.6 per cent to $334,602 compared
to $378,336 in January 2008.
Attached property sales in January 2009 were down 65.7 per cent to 109, compared with the 318 sales
in January 2008. The benchmark price of an attached unit declined 8.1 per cent to $425,309 compared to
$462,627 in January 2008.

Prudential Sussex Realty West Vancouver. Committed Service. Real Estate SALES. Real Estate North Vancouver. Real Estate West Vancouver. Real Estate Downtown Vancouver. Real Estate in the Lower Mainland. Buy and Sell Real Estate. Luxury Real Estate, Waterfront Real Estate, Investment Real Estate, First Time Home Buyers. Specialized in Residential Real Estate. Dave Valente. Deep Cove Listings. North Vancouver Luxury Real Estate Agent. Fine Homes International. Dollarton Real Estate. Deep Cove Homes For Sale. Deep Cove Realtor. North Shore Real Estate Agent. Real Estate Court Ordered Sales in Vancouver. www.deepcovelistings.com www.davevalente.com 2010 Olympics Vancouver Real Estate.