“As homes sales in Greater Vancouver
continued at an elevated pace in September it’s encouraging
to see that more homes were listed on the MLS® in the
month than any other so far this year,” Scott Russell,
REBGV president said.
New listings for detached, attached and
apartment properties in Greater Vancouver totalled 5,764
in September 2009. This represents a 6.2 per cent decline
compared to September 2008 when 6,142 new units were listed,
but a 26.8 per cent increase compared to August 2009 when
4,544 properties were listed on the Multiple Listing Service®
(MLS®) in Greater Vancouver.
At 12,596, the total number of property
listings on the MLS® increased 5.5 per cent in September
compared to last month and declined 36 per cent from the
19,852 homes listed for sale during the buyer’s market
that was experienced at this time last year.
“During this period of renewed demand
in our marketplace, home values have gradually recovered
from the declines that occurred in 2008,” said Russell.
Since the beginning of the year, the MLSLink®
Housing Price Index (HPI) benchmark price for all residential
properties in Greater Vancouver has increased 13 per cent
to $547,092 from $484,211, while home prices compared to
Septembers 2008 levels are up 1.6 per cent.
Sales of detached properties increased 160.6
per cent to 1,423 from the 546 detached sales recorded during
the same period in 2008. The benchmark price, as calculated
by the MLSLink Housing Price Index®, for detached properties
increased 2.1 per cent from September 2008 to $741,632.
Sales of apartment properties in September
2009 increased 94.9 per cent to 1,489, compared to 764 sales
in September 2008. The benchmark price of an apartment property
increased 1.5 per cent from September 2008 to $374,686.
Attached property sales in September 2009
are up 135.3 per cent to 647, compared with the 275 sales
in September 2008. The benchmark price of an attached unit
increased 0.4 per cent between Septembers 2008 and 2009
to $466,276.
