Recent Vancouver March Stats for Real Estate in Feb

REBGV reports increased housing demand in February
VANCOUVER, B.C. – March 2, 2011 – Demand for detached homes continues to be strong across Greater Vancouver, with
particularly high sales volumes occurring in Richmond and Vancouver Westside.
For the past two months, the number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®)
in Greater Vancouver outpaced the 10-year average in both categories. From a historical perspective, February’s 3,097 homes
sales outpace the 2,742 home-sale average recorded in the region over the last ten years.
“We saw an increase in demand across our region last month as more buyers entered the market in advance of the spring
season,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). “The intensity of this activity
varied between communities. Our statistics tell us that single detached homes in Richmond and the west side of Vancouver
remain the most sought after properties in our marketplace.”
Between November 2010 and February 2011, the MLSLink® Housing Price Index (HPI) benchmark price of a detached
home in Richmond increased $190,739 to $1,099,679; in Vancouver West, detached home prices increased $222,185 to
$1,850,072. In comparison, detached home prices across the region increased $51,762 between November 2010 and February
2011 to $848,645.
“To effectively analyse real estate statistics for the purpose of buying or selling a home, it’s critical to focus on your
neighbourhood of choice because, like we see today, conditions and prices can fluctuate significantly within the same city or
municipality,” Moldowan said.
Looking across the region, the REBGV reports that residential property sales of detached, attached and apartment properties
in Greater Vancouver reached 3,097 on the MLS® in February 2011. This represents a 70.3 per cent increase compared
to the 1,819 sales recorded in January 2011, an increase of 25.2 per cent compared to the 2,473 sales in February 2010 and a
109.3 per cent increase from the 1,480 home sales in February 2009.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,693 in February 2011. This
represents a 23.6 per cent increase compared to February 2010 when 4,606 properties were listed, and an 18.6 per cent increase
compared to January 2011 when 4,801 homes were added to the MLS® in Greater Vancouver.
“With a sizeable increase in the number of properties coming onto the market for sale, there’s a good selection out there for
buyers to choose from,” Moldowan said.
At, 11,925, the total number of residential property listings on the MLS® increased 14.2 per cent in February compared to
last month and increased 5 per cent from this time last year.
Sales of detached properties on the MLS® in February 2011 reached 1,402, an increase of 42.6 per cent from the 983 detached
sales recorded in February 2010, and a 138.9 per cent increase from the 587 units sold in February 2009. The benchmark
price for detached properties increased 6 per cent from February 2010 to $848,645.
Sales of apartment properties reached 1,206 in February 2011, a 12.3 per cent increase compared to the 1,074 sales in February
2010, and an increase of 85.5 per cent compared to the 650 sales in February 2009. The benchmark price of an apartment
property increased 2.2 per cent from February 2010 to $399,397.
Attached property sales in February 2011 totalled 489, a 17.5 per cent increase compared to the 416 sales in February 2010,
and a 101.2 per cent increase from the 243 attached properties sold in February 2009. The benchmark price of an attached unit
increased 2.3 per cent between February 2010 and 2011 to $507,118.
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The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board’s area, generating $1.28
billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled
$21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies.
The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying
or selling a home, contact a local REALTOR® or visit www.rebgv.org.

Going to Events of the last few days

I like expanding my mental and experience horizons by going to different events and then mashing the information together. I went to the “BC Home + Garden Show” still going on at the Vancouver Convention Centre till Sunday. Interesting with some live singing and met a few of those tv demonstrators you see on tv on the infomercials. Found myself being a consumer and bought a 2 for 1 broom mop combo product. Since I have been an exhibitor at trade shows I find I have a respect for the effort it takes to work at one of these events so I find I have interesting discussions with some of the experienced exhibitors. I always find I learn something sort of a field trip on business. I then went to a ” Study and Go Abroad” fair and it was for only a few hour event. Found out that I can travel to a country I traveled to before with the plane fare paid for and six months of work. It was interesting to see so many Universities and the types of programs they offer. univercity life it seems is quite a lifestyle and at times expensive. So why not end the education portion of the week on a very serious but yet educational event for free. “Free Wills & Estate Planning Seminar Series” WOW serious 1.5 hours of dying is a lot of work and I sure need to set aside a small bit of time on this to save others the work and to be more helpful to others. So that was some of what I did and the real estate work well it continues with both interesting and common stories of people searching for the “DEAL”.

Feb news release and stats on Vancouver real estate

 

 

 

News Release

 

 

January housing market

 

VANCOUVER, B.C. – February 2, 2011 –

in January, although higher levels of buyer demand were seen in some of the region’s largest communities.

The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the

10-year average in both categories for January.

“There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always

variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver

(REBGV). “We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.”

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per

cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7

per cent over the same period.

“When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s

equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,”

Moldowan said

Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the

MLS® in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a

decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in

January 2009.

From a historical perspective, January’s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the

region over the last ten years.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This

represents a 6.7 per cent decrease compared to January 2010 when 5,147 properties were listed, and a 182 per cent increase

compared to December 2010 when 1,699 homes were added to the MLS® in Greater Vancouver.

At 10,438, the total number of residential property listings on the MLS® increased 5.8 per cent in January compared to last

month and increased 2.2 per cent from this time last year.

Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 per cent from the 705 detached

sales recorded in January 2010, and a 171.6 per cent increase from the 292 units sold in January 2009. The benchmark price

for detached properties increased 2.7 per cent from January 2010 to $810,045.

Sales of apartment properties reached 713 in January 2011, a decline of 20.8 per cent compared to the 891 sales in January

2010, and an increase of 97.5 per cent compared to the 361 sales in January 2009.The benchmark price of an apartment

property increased 1.4 per cent from January 2010 to $390,935.

Attached property sales in January 2011 totalled 313, a decline of 4.3 per cent compared to the 327 sales in January 2010,

and a 187.2 per cent increase from the 109 attached properties sold in January 2009. The benchmark price of an attached unit

increased 2.6 per cent between January 2010 and 2011 to $495,140.

 

The Greater Vancouver housing market remained in balanced market conditions 

 

 

The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board’s area, generating

$1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver

totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and

their companies. The Board provides a variety of member services, including the Multiple Listing Service®. For more information on real estate,

statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.