October 2009 Vancouver Real Estate Market Update. Vancouver Realtor www.annalabadze.com 604.782.3552 Vancouver Realtor

Vancouver Realtor www.annalabadze.com 604.782.3552  Vancouver Realtor Anna Labadze Century 21 In Town Realty

VANCOUVER, B.C. – November 2, 2009

prices compared to last year.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties

in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008.

“While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008,” Scott

Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “We’re coming off several months of

unseasonably high sales levels, which has allowed for a gradual increase in home values this year,”

The REBGV reports that residential property sales in Greater Vancouver totalled 3,704 in October 2009, an

increase of 4.1 per cent from the 3,559 sales recorded in September 2009, and an increase of 171.6 per cent compared

to October 2008 when 1,364 sales were recorded. Looking back two years, last month’s sales increased 22.3

per cent compared to October 2007 when 3,028 sales were recorded.

– Strong demand has led to a steady rise in Greater Vancouver home

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market

today,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October

2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, and

a 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple Listing

Service® (MLS®) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS® decreased 4.1 per cent in October compared to

last month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during the

same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached

properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in October

2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in October

2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to

$468,798.

 

– Strong demand has led to a steady rise in Greater Vancouver home

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market

today,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October

2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, and

a 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple Listing

Service® (MLS®) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS® decreased 4.1 per cent in October compared to

last month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during the

same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached

properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in October

2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in October

2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to

$468,798.

– Strong demand has led to a steady rise in Greater Vancouver home

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market

today,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October

2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, and

a 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple Listing

Service® (MLS®) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS® decreased 4.1 per cent in October compared to

last month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during the

same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached

properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in October

2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in October

2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to

$468,798.

 

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