Metro Vancouver

At an average benchmark price of $882,358, December detached home prices rose 21.1%  from December 2008 and 1.3% from 2007. The number of detached homes sold in 2009 was up 34.4% from one year ago and down 2.5% from 2007. The supply of detached homes on the market for the past twelve months was down 16.3% from 2008.

North Vancouver townhouse benchmark prices were up 14.6% from last December, coming in at $579,985, just .4% higher than 2007. Year-end sales are up 44.8% from last year, and down 1.5% from 2007. Listings were down 12.6% from 2008.

December condominium prices in North Vancouver came in at $388,373, up 16.6% from 2008 and down 2.3% from 2007. Listings for the year were down 10%, while sales increased 40.5% from 2008 and decreased 10.7% from 2007.

Statistical source: Real Estate Board of Greater Vancouver

After near record low sales levels at the start of 2009, Greater Vancouver property sales rose significantly through to year-end, reflecting a corresponding increase in buyers' confidence.

Total unit sales of detached, attached and apartment properties in 2009 reached 35,669, a 44.8% increase from the 24,626 unit sales recorded in 2008, and a 6.3% decline from the 38,050 residential sales in 2007.

December residential property sales were the third highest volume of sales ever recorded in Greater Vancouver for that month.

Detached home  sales in 2009 were up 51.5% from last year, and down 5.3% from 2007. Listings were down 16.8% from last year, and down 4.6% from two years ago. December benchmark prices averaged $766,816, up 18.3% from one year ago, and up 5.0% from December 2007.

Greater Vancouver townhome sales were up 46.5% from 2008, and down 5.2% from 2007. The December benchmark price of $478,093 rose 12.9% from one year ago, and 4.6% from December 2007. Listings available for sale last year fell short of 2008 by 11.9%.

Greater Vancouver condominium benchmark prices rose 14.8% from last December to $382,573 and 1.3% from December 2007. Condo sales for the year rose 38.6% from 2008 but fell 7.4% from two years ago.  2009 listings were down 15.7% from those of 2008.

Statistical source: Real Estate Board of Greater Vancouver

Kerrisdale, Vancouver  -  The 3 story walkup at 3-2110 West 47th Avenue has been sold.

Property information

At an average benchmark price of $861,962, August detached home prices rose 2.8% from last month. The number of detached homes sold in August was up 78.6% from one year ago. Year-to-date August sales surpassed those for the same period last year by 12%. The supply of detached homes on the market fell by 25% from last month.

North Vancouver townhouse benchmark prices rose 1.4% from last month. Sales were up 120% from one year ago, while listings were up 85.7% over this period.

August condominium prices in North Vancouver were up 3.2% while listings fell 18.1% in the past month.Sales were up 139% from August 2008.

Statistical source: Real Estate Board of Greater Vancouver

Overall real estate sales in Metro Vancouver were up 119.3% from one year ago, and up 1.8% from two years ago. August year-to-date sales are currently 14.8% higher than the same period last year.

Detached home sales climbed 155.2% from one year ago, and declined 15.2% from last month. Listings were down 15.3% from last month. Benchmark prices averaged $732,656, down .7% from one year ago.

Prices of Metro Vancouver townhomes were up 1.6% from last month, coming in at $459,159. The number of townhomes sold in August 2009 rose 108.2% from one year ago. Listings available for sale were up 7.3%.

Metro Vancouver condominium benchmark prices rose 1.1% from last month to $369,263, while sales increased 97.8% from last August. Listings fell 3.5% from last momth.

Statistical source: Real Estate Board of Greater Vancouver

August stats:

Market momentum carries into August

The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver increased 119.5 per cent in August 2009 to 3,441 from the 1,568 sales recorded in August 2008 and increased 1.7 per cent compared to August 2007.

New listings for detached, attached and apartment properties increased 4.9 per cent to 4,544 in August 2009 compared to August 2008 when 4,331 new units were listed. Total active listings in Greater Vancouver currently sit at 11,937, down 33 per cent from August 2008.

“The return of confidence to our market has brought a high volume of home sales over the last few months and has also made determining home prices a little more challenging,” said Scott Russell, REBGV president. “The number of residential home sales this summer has been comparable to activity seen in the five years preceding 2008. While that’s great news, from the variations in activity we’re seeing across areas I’d say the market is still trying to find its own balance.”

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.4 per cent to $539,600 from $484,211. However, home prices compared to August 2008 levels are down 1.1 per cent.

Sales of detached properties in August 2009 increased 155.5 per cent to 1,367 from the 535 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 0.7 per cent from August 2008 to $732,656.

Sales of apartment properties increased 97.8 per cent last month to 1,464, compared to the 740 sales in August 2008. The benchmark price of an apartment property declined 1.4 per cent from August 2008 to $369,263.

Attached property sales in August 2009 increased 108.2 per cent to 610, compared with the 293 sales during the same month in 2008. The benchmark price of an attached unit declined 0.9 per cent between August 2008 and 2009 to $459,159.

While overall July Squamish sales were up 31.8% from one year ago, year-to-date sales remain 41.4% below last year.

The detached home benchmark price of $506,529 in Squamish is 21.6% below July 2008. While the number of sales is up 7.1% this month over last, year-to-date sales remain at 28% below last year.

While there have been increases in the sales of attached homes and condominiums over the past three months, year-to-date sales are still 51.2% below those of January to July 2008. Also of note is that the number of units available for sale is down 56.3% from last July.

Statistical Source: Real Estate Board of Greater Vancouver

The West Vancouver detached home average benchmark price of $1,207,527 fell 3.3% from last month and 14.3% from one year ago. July year-to-date sales are up slightly at 1.4% over last year.

 Statistical source: Real Estate Board of Greater Vancouver