VANCOUVER,
B.C. - May 03, 2011 - Greater Vancouver saw a typical,
solid month of residential home sales on the Multiple
Listing Service® (MLS®) in April, in contrast
to the near record pace witnessed in the two preceding
months.
The
Real Estate Board of Greater Vancouver (REBGV) reports
that residential property sales of detached, attached
and apartment properties in Greater Vancouver reached
3,225 in April 2011, an 8.2 per cent decrease compared
to the 3,512 sales in April 2010 and a 21 per cent
decline compared to the 4,080 sales in March 2011.
Looking
back further, last month’s residential sales
represent an 8.8 per cent increase over the 2,963
residential sales in April 2009, relatively unchanged
compared to April 2008, and a 4.8 per cent decline
compared to the 3,387 sales in April 2007.
“While
it continues to be a seller’s market in Greater
Vancouver, last month’s activity brought greater
balance between supply and demand in the overall
marketplace,” Rosario Setticasi, REBGV president
said. “The year-over-year decline in April
sales can be attributed to a less active condominium
market on our MLS®, as there were more detached
and townhome sales this April compared to last year.”
New
listings for detached, attached and apartment properties
in Greater Vancouver totalled 5,847 in April 2011.
This represents a 23.5 per cent decline compared
to April 2010 when 7,648 properties were listed
for sale on the MLS®, which was an all-time
record for April. Compared to March 2011, last month’s
new listings total registered a 14 per cent decline.
At 14,187, the total number of residential property
listings on the MLS® increased 8.2 per cent
in April compared to last month and declined 10
per cent from this time last year.
“There’s
considerable variation in activity within the communities
in our region. This is causing home price trends
to differ depending on the area,” Setticasi
said. “Your local REALTOR® is a valuable
resource for obtaining the most accurate, up-todate
market evaluation.”
The
MLSLink® Housing Price Index (HPI) benchmark
price for all residential properties in Greater
Vancouver over the last 12 months has increased
5 per cent to $622,991 in April 2011 from $593,419
in April 2010.
Sales
of detached properties on the MLS® in April
2011 reached 1,402, an increase of 2.3 per cent
from the 1,370 detached sales recorded in April
2010, and a 17.8 per cent increase from the 1,190
units sold in April 2009. The benchmark price for
detached properties increased 7.4 per cent from
April 2010 to $879,039.
Sales
of apartment properties reached 1,201 in April 2011,
a 21.3 per cent decrease compared to the 1,526 sales
in April 2010, and an increase of 1.9 per cent compared
to the 1,179 sales in April 2009. The benchmark
price of an apartment property increased 2.9 per
cent from April 2010 to $409,242.
Attached
property sales in April 2011 totalled 622, a 1 per
cent increase compared to the 616 sales in April
2010, and a 4.7 per cent increase from the 594 attached
properties sold in April 2009. The benchmark price
of an attached unit increased 2.4 per cent between
April 2010 and 2011 to $514,670.
