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