REBGV Stats Package October 2009

8/14/2019 REBGV Stats Package October 2009

1/7

News ReleaseFOR IMMEDIATE RELEASE

High sales levels spur rise in home valuesVANCOUVER, B.C. November 2, 2009 Strong demand has led to a steady rise in Greater Vancouver home

prices compared to last year.

Over the last 12 months, the MLSLink Housing Price Index (HPI) benchmark price for all residential proper-ties in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008.

While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008, ScottRussell, Real Estate Board of Greater Vancouver (REBGV) president said. Were coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,

The REBGV reports that residential property sales in Greater Vancouver totalled 3,704 in October 2009, anincrease of 4.1 per cent from the 3,559 sales recorded in September 2009, and an increase of 171.6 per cent com-

pared to October 2008 when 1,364 sales were recorded. Looking back two years, last months sales increased 22.3

per cent compared to October 2007 when 3,028 sales were recorded.High condence and low mortgage rates are continuing to drive the activity were seeing in the housing market

today, Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October 2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, anda 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple ListingService (MLS) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS decreased 4.1 per cent in October compared tolast month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during thesame period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index, for detached

properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in Octo- ber 2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in Octo- ber 2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to$468,798.

-30-

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Boards areagenerating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400


2/7

Preliminary Report MLSLINK HOUSING PRICE INDEX

October 2009PROPERTY BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR

TYPE AREA PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE(+/-) PRICE % % %

Residential Greater Vancouver $553,702 0.6% $546,798 233.86 6.8 14.6 57.6Detached Greater Vancouver $749,808 1.3% $741,365 221.4 7.7 15.2 55.7

Burnaby $752,424 2.0% $741,330 221.5 9.7 14.9 57.8Coquitlam $591,011 7.8% $620,560 207.9 -5.7 1.5 42.6South Delta $648,386 3.8% $631,827 211.9 12.0 12.3 46.8Maple Ridge $430,412 2.2% $428,993 196.3 0.2 5.1 34.3New Westminster $577,434 3.5% $568,264 238.0 6.4 11.7 62.8North Vancouver $888,797 2.4% $873,620 222.0 10.7 20.4 53.0Pitt Meadows $500,954 5.7% $488,761 205.6 5.7 16.3 38.6Port Coquitlam $500,022 3.5% $519,745 211.3 -5.5 6.1 37.2Port Moody $770,555 11.6% $716,774 231.6 42.1 21.8 50.6Richmond $793,296 1.8% $765,424 234.2 6.7 20.9 64.4Squamish $574,885 6.4% $548,793 218.4 9.2 31.6 45.5Sunshine Coast $422,411 5.5% $413,099 240.3 -1.6 14.3 42.9Vancouver East $694,145 1.9% $692,622 235.1 8.8 14.8 61.5Vancouver West $1,491,294 2.2% $1,450,172 247.5 16.6 32.0 84.6West Vancouver $1,422,019 4.7% $1,351,792 209.5 24.6 11.4 55.6

Attached Greater Vancouver $468,798 0.7% $464,744 227.4 4.6 14.2 51.8Burnaby $462,810 1.3% $458,833 231.8 2.5 18.5 54.6Coquitlam $417,131 2.2% $408,286 225.0 4.3 9.6 50.1South Delta $459,903 5.6% $462,346 246.3 8.9 21.1 67.5Maple Ridge & Pitt Meadows $301,005 2.2% $299,868 208.8 -1.5 5.1 43.0North Vancouver $599,391 2.6% $584,748 234.6 4.6 13.4 46.4Port Coquitlam $396,905 2.7% $386,281 218.3 3.8 14.8 50.7Port Moody $373,476 3.3% $385,163 222.9 -3.4 5.6 41.2Richmond $468,947 1.3% $467,819 226.1 5.7 17.2 54.3Vancouver East $511,772 2.5% $506,490 239.3 3.2 20.8 54.0Vancouver West $722,981 2.4% $715,001 258.0 14.6 15.0 57.9

Apartment Greater Vancouver $380,975 0.5% $374,974 247.8 6.3 14.3 63.5Burnaby $340,491 1.0% $336,547 254.5 5.6 16.4 65.3Coquitlam $283,896 1.9% $279,453 242.1 2.3 9.0 62.7South Delta $345,475 4.2% $342,217 225.0 5.2 16.3 46.8Maple Ridge & Pitt Meadows $239,416 2.9% $239,711 254.2 -1.0 2.0 54.5New Westminster $291,566 1.6% $284,500 236.8 4.9 12.1 69.8North Vancouver $389,500 2.0% $381,569 247.8 7.5 13.0 59.4Port Coquitlam $244,626 1.5% $243,184 286.5 0.9 8.6 65.6Port Moody $297,808 3.0% $291,943 254.1 5.6 8.9 59.1Richmond $321,700 1.1% $317,685 261.5 7.7 15.1 65.1Vanco er East $327 357 1 7% $320 528 268 0 1 6 17 7 80 4


3/7

C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif

MLS Housing Price Index - Greater Vancouver 5 Year Trend

80

100

120

140

160

180

200

220

240

260

280

O c t 2

0 0 4

D e c 2

0 0 4

F e b 2

0 0 5

A pr 2

0 0 5

J un2

0 0 5

A u g2

0 0 5

O c t 2

0 0 5

D e c 2

0 0 5

F e b 2

0 0 6

A pr 2

0 0 6

J un2

0 0 6

A u g2

0 0 6

O c t 2

0 0 6

D e c 2

0 0 6

F e b 2

0 0 7

A pr 2

0 0 7

J un2

0 0 7

A u g2

0 0 7

O c t 2

0 0 7

D e c 2

0 0 7

F e b 2

0 0 8

A pr 2

0 0 8

J un2

0 0 8

A u g2

0 0 8

O c t 2

0 0 8

D e c 2

0 0 8

F e b 2

0 0 9

A pr 2

0 0 9

J un2

0 0 9

A u g2

0 0 9

O c t 2

0 0 9

P r i c e

I n d e x

Detached Attached ApartmentYear 2001 average = 100


4/7


5/7

10 16 2009 MLS LISTINGS Facts

B u r n a b y

C o q u i t l a m

D e l t a

- S o u t h

I s l a n d s - G u l f

M a p l e R i d g e / P i t t

M e a d o w s

N e w W e s t m i n s t e r

N o r t h

V a n c o u v e r

P o r t C o q u i t l a m

P o r t M o o d y / B e l c a r r a

R i c h m o n d

S q u a m i s h

S u n s h i n e C o a s t

V a n c o u v e r E a s t

V a n c o u v e r W e s t

W e s t V a n c o u v e r / H o w e S o u n d

W h i s t l e r / P e m b e r t o n

Detached 166 172 54 4 161 41 125 63 38 208 37 69 277 238 141 28 1,822 Attached 128 51 14 0 53 19 50 28 27 160 24 7 49 94 10 35 749 Apartment 329 117 31 0 53 121 150 63 59 343 9 4 218 833 34 42 2,406Detached 78% 76% 102% 225% 100% 98% 94% 86% 68% 89% 46% 62% 83% 84% 60% 21%

Attached 77% 92% 50% n/a 77% 95% 82% 86% 81% 86% 58% 114% 98% 83% 100% 49% n/a Apartment 66% 74% 55% n/a 72% 83% 75% 87% 51% 65% 222% 125% 69% 64% 56% 17%


Attached 76% 59% 167% 0% 71% 73% 69% 106% 72% 87% 45% 100% 69% 60% 53% 36% n/a Apartment 61% 61% 84% n/a 47% 64% 66% 44% 49% 70% 29% 78% 58% 60% 46% 24%


Attached 31% 35% 27% 0% 31% 24% 23% 50% 48% 23% 21% 13% 32% 14% -10% 57% n/a Apartment 32% 34% 59% n/a 17% 32% 34% 54% 25% 38% 33% 80% 20% 27% 34% 33%

Detached 1,622 1,756 753 138 1,896 413 1,436 637 451 2,197 379 1,015 2,503 2,407 1,163 238 19,004 Attached 1,253 585 102 2 675 173 541 374 346 1,536 218 96 604 1,189 120 319 8,133 Apartment 2,542 1,105 214 5 491 1,258 1,343 575 512 2,531 208 92 1,857 6,646 270 277 19,926Detached 65% 62% 72% 30% 64% 66% 67% 70% 51% 68% 40% 43% 68% 69% 50% 25%

Attached 72% 64% 82% 50% 61% 75% 72% 79% 70% 75% 39% 50% 69% 66% 38% 28% n/a Apartment 66% 64% 68% 0% 49% 67% 63% 58% 59% 68% 32% 45% 64% 66% 52% 22%

Detached 2,092 2,355 885 140 2,330 481 1,772 888 519 2,821 415 1,096 3,217 2,933 1,396 289 23,629 Attached 1,445 664 133 2 743 246 633 552 444 1,671 240 122 724 1,462 129 377 9,587 Apartment 3,002 1,533 221 0 657 1,660 1,575 756 810 3,068 202 99 2,341 8,180 331 348 24,783

Detached 34% 32% 44% 22% 40% 41% 43% 38% 34% 37% 37% 39% 37% 32% 31% 28% Attached 43% 43% 52% 50% 47% 50% 44% 45% 47% 47% 47% 57% 39% 32% 35% 40% n/a Apartment 42% 36% 62% n/a 41% 42% 43% 43% 34% 44% 45% 45% 44% 40% 37% 25%

* Year-to-date listings represent a cumulative total of listings rather than total active listings.

% Sales toListings

Number of

Listings

% Sales toListings

September 2009

October 2008

Jan. -Oct. 2009

Jan. -

Oct. 2008

% Sales toListings

Number of

Listings

% Sales toListings

Number of

Listings

October 2009

Number of

Listings

% Sales toListings

Number of

Listings

October 2009

Year-to-date*

Year-to-date*


6/7


7/7

Real Estate Board of Greater Vancouver Average Price GraphJanuary 1977 to October 2009

0

100

200

300

400

500

600

700

800

900

1000

1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

DETACHED CONDOMINIUM ATTACHED APARTMENTS

IN THOUSANDS ($)

NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.

$523,542

$429,777

$913,939

REBGV Stats Package October 2009

Documents

Transcript of REBGV Stats Package October 2009