The Real Estate Board of Greater Vancouver
(REBGV) reports that sales of detached, attached and apartment
properties increased 75.6 per cent in June 2009 to 4,259,
from the 2,425 sales recorded in June 2008. The figure is
just short of the record-breaking 4,333 sales which occurred
in June 2005.
New listings for detached, attached and
apartment properties declined 17.9 per cent to 5,372 in
June 2009 compared to June 2008, when 6,546 new units were
listed. However, new listings increased 13.5 per cent from
May to June of this year. Total active listings in Greater
Vancouver currently sit at 13,252, down 27 per cent from
June 2008 and 2.9 per cent below the active listings count
at the end of May 2009.
“Price reductions and low interest
rates have created an improvement in affordability, which
is causing the number of sales to rise to levels comparable
to 2003 to 2007,” Scott Russell, REBGV president said.
“Many people who were reluctant to purchase a home
last fall and earlier this year are returning to the market
because they see conditions that appeal to their personal
and financial needs,” Russell said. “However,
the current marketplace is such that buyers are more inclined
to walk if they don’t like the terms of an offer.”
Residential benchmark prices, as calculated
by the MLSLink® Housing Price Index, declined 8.2 per
cent to $518,855 in June 2009 compared to June 2008.
The number of sales of detached properties
increased 81.6 per cent to 1,667 from the 918 detached sales
recorded during the same period in 2008. The benchmark price
for detached properties declined 8.4 per cent to $701,384
in June 2009 compared to June 2008.
The number of sales of apartment properties
in June 2009 increased 69.3 per cent to 1,790, compared
to 1,057 sales in June 2008. The benchmark price of an apartment
property declined 8.2 per cent from June 2008 to $356,880.
The number of attached property sales in
June 2009 increased 78.2 per cent to 802, compared with
the 450 sales in June 2008. The benchmark price of an attached
unit declined 7.3 per cent between June 2009 and 2008 to
$441,620.
Bright spots in Greater Vancouver in June 2009 compared
to June 2008:
Detached:
Burnaby up 109.7 per cent (151 units sold
from 72)
Coquitlam up 122.2 per cent (160 units sold
from 72)
Delta - South up 107.7 per cent (56 units
sold from 27)
Maple Ridge/Pitt Meadows up 54.3 per cent
(162 units sold from 105)
New Westminster up 104.8 per cent (43 units
sold from 21)
North Vancouver up 96.2 per cent (153 units
sold from 78)
Port Moody/ Belcarra up 120 per cent (33
units sold from 15)
Richmond up 77.4 per cent (204 units sold
from 115)
Squamish up 107.7 per cent (27 units sold
from 13)
Sunshine Coast up 33.9 per cent (75 units
sold from 56)
Vancouver East up 71.2 per cent (238 units
sold from 139)
Vancouver West up 85.2 per cent (200 units
sold from 108)
West Vancouver/Howe Sound up 117.8 per cent
(98 units sold from 45)
Attached:
Burnaby up 81.8 per cent (140 units sold
from 77)
Coquitlam up 80 per cent (54 units sold
from 30)
Maple Ridge/Pitt Meadows up 48.6 per cent
(55 units sold from 37)
North Vancouver up 121.2 per cent (73 units
sold from 33)
Port Coquitlam up 82.6 per cent (42 units
sold from 23)
Port Moody/ Belcarra up 77.3 per cent (39
units sold from 22)
Richmond up 84.5 per cent (155 units sold
from 84)
Vancouver East up 118.5 per cent (59 units
sold from 27)
Vancouver West up 121.8 per cent (122 units
sold from 55)
Apartments:
Burnaby up 60.4 per cent (239 units sold
from 149)
Coquitlam up 93.9 per cent (95 units sold
from 49)
New Westminster up 57.1 per cent (121 units
sold from 77)
North Vancouver up 71.4 per cent (120 units
sold from 70)
Port Coquitlam up 58.1 per cent (49 units
sold from 31)
Port Moody/Belcarra up 128.6 per cent (48
units sold from 21)
Richmond up 54.1 per cent (225 units sold
from 146)
Vancouver East up 58.7 per cent (165 units
sold from 104)
Vancouver West up 87.2 per cent (627 units
sold from 335)
West Vancouver/Howe Sound up 155.6 per cent
(23 units sold from 9)
