“Our
market has had a very strong start to the spring season,”
Rosario Setticasi, REBGV president said. “With
home sales above 4,000 and nearly 7,000 home listings
added to the MLS® in March, it’s clear that
home buyers and sellers view this as a good time to
be active in their local housing market.”
New
listings for detached, attached and apartment properties
in Greater Vancouver totalled 6,797 in March 2011.
This represents a 3 per cent decline compared to March
2010 when 7,004 properties were listed for sale on
the MLS®, an all-time record for March. Compared
to February 2011, last month’s new listings
total registered a 19.4 per cent increase.
At,
13,110, the total number of residential property listings
on the MLS® increased 9.9 per cent in March compared
to last month and declined 3 per cent from this time
last year.
“Conditions
favour sellers at the moment, but we’re seeing
differences in home-price trends and overall activity
depending on the region and property type,”
Setticasi said.
The
MLSLink® Housing Price Index (HPI) benchmark price
for all residential properties in Greater Vancouver
over the last 12 months has increased 5.4 per cent
to $615,810 in March 2011 from $584,435 in March 2010.
Sales
of detached properties on the MLS® in March 2011
reached 1,795, an increase of 34.4 per cent from the
1,336 detached sales recorded in March 2010, and a
100.1 per cent increase from the 897 units sold in
March 2009. The benchmark price for detached properties
increased 8.3 per cent from March 2010 to $866,806.
Sales
of apartment properties reached 1,622 in March 2011,
a 29.6 per cent increase compared to the 1,252 sales
in March 2010, and an increase of 66.2 per cent compared
to the 976 sales in March 2009. The benchmark price
of an apartment property increased 2.1 per cent from
March 2010 to $403,885.
Attached
property sales in March 2011 totalled 663, a 20.8
per cent increase compared to the 549 sales in March
2010, and a 69.1 per cent increase from the 392 attached
properties sold in March 2009. The benchmark price
of an attached unit increased 3.6 per cent between
March 2010 and 2011 to $511,039.
