2008-03 REBGV Stats Package - 604homes.com
News Release FOR IMMEDIATE RELEASE
Housing market moderates for spring-time buyers VANCOUVER, B.C. – April 2, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that while there were fewer housing sales in March 2008 compared to last year, residential prices continued to climb. Residential property sales in Greater Vancouver totalled 2,997 in March 2008, a decline of 16.3 per cent from the 3,582 residential sales recorded in March 2007, and a decline of 25.7 per cent compared to the 4,033 sales in March 2006. New listings for detached, attached and apartment properties increased four per cent to 5,674 in March 2008 compared with March 2007, when 5,456 new units were listed. “The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.” Sales of detached properties declined 20.2 per cent to 1,116 from the 1,399 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 12.1 per cent from March 2007 to $764,616. Sales of apartment properties in March 2008 declined 10.6 per cent to 1,370, compared to 1,532 sales in March 2007. The benchmark price of an apartment property increased 11.5 per cent from March 2007 to $389,609. Attached property sales in March 2008 are down 21.5 per cent to 511, compared with the 651 sales in March 2007. The benchmark price of an attached unit increased 10.6 per cent between March 2007 and 2008 to $473,543. Bright spots in Greater Vancouver in March 2008 compared to March 2007:
Attached: New Westminster............................up 142.9 per cent (17 units sold up from 7) Apartments: Port Moody/Belcarra......................up 31.6 per cent (50 units sold up from 38) Maple Ridge/Pitt Meadows............up 48.5 per cent (49 units sold up from 33)
-30The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board’s area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,500 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.realtylink.org. *In August 2004, the Greater Vancouver and Fraser Valley boards upgraded our existing MLS systems to a common system called MLSLink. MLSLink® HPI is the latest version of the Board’s Housing Price Index (HPI) and is designed to accommodate the MLS upgrade and improve the legacy HPI product. For more information on real estate, statistics, and buying or selling a home, visit www.realtylink.org.
For more information please contact: Craig Munn, Assistant Manager, Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3146 Fax: (604) 730-3102 E-mail: [email protected]
also available at www.realtylink.org
MLSLINK HOUSING PRICE INDEX
Preliminary Report
March 2008 PROPERTY TYPE Residential Detached
Attached
AREA Greater Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge New Westminster North Vancouver Pitt Meadows Port Coquitlam Port Moody Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
Apartment
North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver
BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $564,979 0.5% $558,648 238.63 11.7 53.0 101.4 $764,616 0.9% $756,150 225.8 12.1 52.0 94.8 $761,085 2.0% $753,633 224.0 12.6 53.0 92.8 $664,219 4.2% $658,959 233.7 10.1 57.0 96.0 $671,811 2.8% $659,826 219.5 14.0 46.1 85.0 $458,666 2.0% $458,179 209.2 8.0 37.9 71.2 $621,253 4.8% $584,397 256.0 19.1 57.8 126.5 $928,636 2.2% $904,548 232.0 14.0 47.7 87.6 $490,749 6.3% $485,806 201.4 6.8 33.8 71.5 $528,960 3.9% $545,199 223.6 7.8 39.7 77.3 $720,095 10.0% $691,971 216.5 10.7 53.6 74.8 $758,915 1.6% $751,414 224.1 12.8 54.9 89.7 $579,496 8.9% $576,506 220.1 25.5 58.7 47.7 $435,595 5.6% $428,559 247.8 8.2 43.0 109.4 $688,888 1.8% $680,054 233.3 10.6 52.3 100.0 $1,448,310 2.5% $1,435,817 240.3 16.9 67.9 119.2 $1,484,877 4.7% $1,483,516 218.7 10.7 49.5 98.8 $473,543 0.7% $469,439 229.7 10.6 48.1 96.5 $459,610 1.4% $457,247 230.2 10.0 48.7 102.4 $438,757 3.0% $428,580 236.7 9.7 50.7 95.9 $438,324 4.8% $449,933 234.7 10.4 55.4 100.1 $317,119 1.8% $314,126 220.0 7.8 42.2 92.8 $622,096 2.8% $611,169 243.5 14.9 47.6 106.0 $381,971 2.4% $389,260 210.0 3.9 38.6 72.0 $412,870 2.5% $406,527 246.4 10.8 54.1 89.2 $461,832 1.3% $458,349 222.7 12.7 49.3 82.7 $524,024 2.6% $504,681 245.0 13.7 61.4 113.1 $711,645 3.0% $711,673 253.9 9.4 43.8 113.1 $389,609 0.5% $384,992 253.4 11.5 56.6 112.1 $344,105 1.1% $341,822 257.2 11.2 57.2 118.1 $300,948 1.9% $299,015 256.6 12.7 59.1 114.4 $360,974 4.5% $346,489 235.1 11.6 52.8 95.6 $259,819 2.8% $257,023 275.9 5.3 53.6 112.2 $302,132 1.9% $297,117 245.4 10.0 61.5 118.2 $401,764 1.9% $392,046 255.6 10.9 55.3 119.6 $259,645 1.6% $257,427 304.1 11.8 57.8 143.3 $304,326 2.2% $298,492 259.7 4.6 52.3 113.2 $322,190 1.2% $314,493 261.9 12.7 61.4 121.7 $335,150 1.7% $327,214 274.4 14.9 72.0 126.4 $496,214 1.0% $494,902 252.4 11.5 51.8 105.0 $627,058 7.8% $619,797 225.0 4.0 38.6 82.1
HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported.
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
$648,500
$400,000
$298,000
Attached
Apartment
225
Attached
Detached
277
Detached
417
$335,000
Apartment
Apartment
$465,000
Attached
181
Attached
$727,000
233
Detached
Detached
$300,000
Apartment
418
$400,000
Apartment
$680,000
Attached
106
Attached
Detached
117
Detached
194
$354,000
Apartment
Apartment
$464,250
60
Attached
$723,750
77
Detached
Attached
$325,500
Apartment
Detached
$466,000
Attached
150
$736,500
Detached
Apartment
170
69
Attached
Apartment
97
Detached
Coquit lam $245,000
$414,000
$580,000
176
83
293
$285,000
$462,500
$639,500
180
74
227
$248,000
$455,000
$582,500
72
33
116
$287,900
$442,500
$626,000
55
30
81
$271,000
$449,000
$674,000
68
23
95
Delta South $282,500
$360,000
$570,600
47
37
142
$338,000
$455,500
$621,100
45
28
134
$325,000
n/a
$587,000
20
18
61
n/a
n/a
$627,000
16
7
44
n/a
n/a
$615,500
18
13
60
Islands - Gulf n/a
n/a
n/a
0
0
15
n/a
n/a
n/a
0
0
9
n/a
n/a
n/a
0
0
6
n/a
n/a
n/a
0
0
5
n/a
n/a
n/a
0
0
3
$215,000
$280,500
$449,900
85
154
355
$238,750
$328,000
$499,900
108
127
287
$208,000
$288,000
$455,900
33
79
160
$245,000
$326,250
$510,000
35
46
107
$244,000
$330,900
$497,450
49
55 91
17
20
$258,000
n/a
$501,450
205
17
64
$296,500
$394,000
$570,001
208
48
51
$267,000
n/a
$505,500
88
7
24
$286,250
n/a
n/a
63
19
17
$303,000
n/a
$588,700
Maple R id g e/Pitt M eadow s 113
$328,950
$548,000
$762,500
260
103
267
$375,000
$613,500
$917,500
258
80
235
$332,000
$552,500
$787,500
113
42
120
$365,000
$595,000
$920,000
93
35
81
$379,900
$590,000
$912,000
102
29
108
North Vanco uver
Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands
Year-to-date
Jan. Mar. 2007
Year-to-date
Jan. Mar. 2008
March 2007
February 2008
March 2008
Number of Sales
March 2008
2008
Port C oquitla m $218,000
$345,000
$469,000
105
66
127
$245,000
$382,000
$530,000
110
83
106
$223,750
$348,500
$479,900
50
34
57
$239,250
$397,400
$553,500
30
32
38
$248,000
$391,000
$530,000
49
31
48
Port M oody/B elcarra $290,000
$408,000
$703,500
83
61
53
$321,500
$429,250
$639,000
106
70
55
$304,950
$375,000
$615,000
38
22
21
$316,000
$428,000
$661,000
37
30
27
$321,500
$383,786
n/a
50
24
11
Richm ond $268,250
$404,950
$636,000
411
314
403
$328,000
$450,000
$705,900
422
283
371
$283,000
$409,900
$644,500
179
137
188
$337,500
$450,000
$733,000
144
104
130
$332,500
$454,400
$711,000
157
109
161
$259,900
$390,000
$448,000
45
38
59
$277,650
$425,000
$476,000
40
36
44
$274,900
n/a
$448,000
20
13
24
n/a
n/a
n/a
12
12
13
n/a
n/a
n/a
19
16
14
Squam ish
15
n/a
n/a
$362,970
8
18
134
n/a
n/a
$385,000
6
15
114
n/a
n/a
$361,135
3
7
61
n/a
n/a
$385,000
2
4
43
n/a
n/a
$370,000
4
4
43
Sunsh ine Co ast
3
y
Burnab
er New W estmin st
Vanco uver E ast $272,000
$463,500
$610,000
376
119
442
$317,500
$525,800
$660,000
364
85
356
$276,000
$465,500
$620,000
154
56
189
$315,000
$489,950
$651,500
120
30
128
$323,000
$532,540
$683,500
164
39
140
Vanco uver W est $392,750
$655,500
$1,231,000
1,284
169
393
$445,000
$717,000
$1,503,000
1,094
135
349
$410,000
$629,000
$1,227,500
536
74
170
$443,500
$717,000
$1,625,000
413
52
138
$453,000
$719,000
$1,474,000
404
55
136
Sound $690,000
n/a
$1,245,000
41
13
161
$712,500
n/a
$1,500,500
42
15
160
n/a
n/a
$1,333,500
18
5
72
n/a
n/a
$1,570,000
14
5
56
n/a
n/a
$1,620,000
17
8
62
5
26
53
21
n/a
n/a
n/a
14
18
13
n/a
n/a
n/a
13
18
10
n/a
n/a
n/a
8
19
$352,250
$623,750
$1,162,500
28
44
30
$285,000
$700,000
$1,010,000
Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
3,571
1,461
3,215
n/a
3,427
1,313
2,752
n/a
1,532
651
1,399
n/a
1,197
484
995
n/a
1,370
511
1,116
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
52%
61%
56%
Attached
Apartment
370
Attached
Detached
535
Detached
746
53%
Apartment
Apartment
47%
Attached
382
Attached
43%
545
Detached
Detached
65%
Apartment
790
66%
Apartment
52%
Attached
160
Attached
Detached
227
Detached
300
56%
Apartment
Apartment
43%
138
Attached
49%
157
Detached
Attached
62%
Apartment
Detached
50%
Attached
268
44%
Detached
Apartment
274
139
Attached
Apartment
218
Detached
Coquit lam 66%
65%
58%
267
128
503
44%
40%
40%
405
184
568
71%
57%
56%
102
58
206
38%
52%
42%
145
58
194
54%
33%
39%
126
70
241
Delta South 61%
79%
66%
77
47
214
64%
70%
50%
70
40
266
57%
164%
74%
35
11
82
53%
44%
50%
30
16
88
106%
144%
57%
17
9
105
Islands - Gulf n/a
n/a
37%
0
0
41
n/a
0%
35%
0
1
26
n/a
n/a
27%
0
0
22
n/a
n/a
83%
0
0
6
n/a
n/a
19%
0
0
16
69%
65%
63%
123
238
564
47%
70%
44%
228
181
651
63%
79%
70%
52
100
230
33%
96%
54%
105
48
197
72%
73%
46%
68
75
246
Maple R id g e/Pitt M eadow s 61%
47%
59%
338
36
109
48%
59%
42%
436
82
121
81%
41%
73%
109
17
33
47%
49%
36%
135
39
47
54%
106%
49%
167
16
41
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Mar. 2007
Year-to-date*
Jan. Mar. 2008
March 2007
February 2008
March 2008
Number of Listings
March 2008
2008
North Vanco uver 68%
79%
67%
385
131
396
61%
46%
52%
420
173
449
83%
86%
83%
136
49
145
60%
58%
53%
155
60
152
80%
41%
66%
128
71
163
Port C oquitla m 62%
67%
63%
169
98
203
55%
56%
43%
200
147
245
79%
85%
61%
63
40
93
47%
60%
38%
64
53
101
70%
67%
56%
70
46
86
Port M oody/B elcarra 38%
61%
50%
219
100
107
42%
57%
40%
251
122
138
38%
65%
43%
101
34
49
51%
91%
55%
72
33
49
48%
52%
23%
104
46
48
Richm ond 57%
64%
57%
719
494
705
47%
65%
48%
892
434
765
60%
62%
66%
296
220
287
43%
72%
56%
333
144
234
49%
64%
58%
323
170
278
Squam ish 66%
88%
78%
68
43
76
95%
52%
37%
42
69
120
133%
72%
73%
15
18
33
80%
75%
31%
15
16
42
211%
40%
29%
9
40
48
50%
86%
44%
16
21
306
22%
35%
35%
27
43
328
33%
117%
54%
9
6
114
40%
21%
36%
5
19
118
133%
57%
37%
3
7
116
Sunsh ine Co ast
15
60%
73%
54%
627
164
820
59%
49%
42%
619
173
852
59%
90%
57%
260
62
334
56%
64%
42%
215
47
303
68%
48%
42%
241
81
332
Vanco uver E ast
3
y
Burnab
er New W estmin st
Vanco uver W est 64%
56%
67%
2,002
301
586
49%
40%
47%
2,242
341
745
68%
56%
74%
783
132
231
57%
50%
57%
726
105
241
50%
41%
51%
811
133
268
Sound 47%
38%
60%
87
34
268
48%
42%
40%
88
36
399
67%
29%
76%
27
17
95
47%
29%
38%
30
17
146
81%
200%
53%
21
4
116
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
32%
63%
58%
87
70
52
25%
57%
28%
104
93
76
64%
82%
68%
22
22
19
41%
62%
30%
32
29
33
29%
58%
23%
28
33
22
Whistl er/Pem berton n/a
5,930
2,275
5,485
n/a
6,814
2,501
6,294
n/a
2,310
946
2,200
n/a
2,330
822
2,108
n/a
2,390
940
2,344
Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings
Sales
1 Mar 2007
2 Feb 2008
3 Mar 2008
5 Mar 2007
6 Feb 2008
7 Mar 2008
227 160 300
157 138 268
218 139 274
38.9 0.7 2.2
117 106 194
77 60 150
97 69 170
26.0 15.0 13.3
277 225 417
233 181 418
-15.9 -19.6 0.2
206 58 102
194 58 145
241 70 126
24.2 20.7 -13.1
116 33 72
81 30 55
95 23 68
17.3 -23.3 23.6
293 83 176
227 74 180
-22.5 -10.8 2.3
82 11 35
88 16 30
105 9 17
19.3 -43.8 -43.3
61 18 20
44 7 16
60 13 18
36.4 85.7 12.5
142 37 47
134 28 45
-5.6 -24.3 -4.3
230 100 52
197 48 105
246 75 68
24.9 56.3 -35.2
160 79 33
107 46 35
113 55 49
5.6 19.6 40.0
355 154 85
287 127 108
-19.2 -17.5 27.1
145 49 136
152 60 155
163 71 128
7.2 18.3 -17.4
120 42 113
81 35 93
108 29 102
33.3 -17.1 9.7
267 103 260
235 80 258
-12.0 -22.3 -0.8
33 17 109
47 39 135
41 16 167
-12.8 -59.0 23.7
24 7 88
17 19 63
20 17 91
17.6 -10.5 44.4
64 17 205
51 48 208
-20.3 182.4 1.5
49 34 101
49 33 72
48 46 104
-2.0 39.4 44.4
21 22 38
27 30 37
11 24 50
-59.3 -20.0 35.1
53 61 83
55 70 106
3.8 14.8 27.7
93 40 63
101 53 64
86 46 70
-14.9 -13.2 9.4
57 34 50
38 32 30
48 31 49
26.3 -3.1 63.3
127 66 105
106 83 110
-16.5 25.8 4.8
287 220 296
234 144 333
278 170 323
18.8 18.1 -3.0
188 137 179
130 104 144
161 109 157
23.8 4.8 9.0
403 314 411
371 283 422
-7.9 -9.9 2.7
114 6 9
118 19 5
116 7 3
-1.7 -63.2 -40.0
61 7 3
43 4 2
43 4 4
0.0 0.0 100.0
134 18 8
114 15 6
-14.9 -16.7 -25.0
33 18 15
42 16 15
48 40 9
14.3 150.0 -40.0
24 13 20
13 12 12
14 16 19
7.7 33.3 58.3
59 38 45
44 36 40
-25.4 -5.3 -11.1
334 62 260
303 47 215
332 81 241
9.6 72.3 12.1
189 56 154
128 30 120
140 39 164
9.4 30.0 36.7
442 119 376
356 85 364
-19.5 -28.6 -3.2
231 132 783
241 105 726
268 133 811
11.2 26.7 11.7
170 74 536
138 52 413
136 55 404
-1.4 5.8 -2.2
393 169 1284
349 135 1094
-11.2 -20.1 -14.8
19 22 22
33 29 32
22 33 28
-33.3 13.8 -12.5
13 18 14
10 18 13
5 19 8
-50.0 5.6 -38.5
30 44 28
21 53 26
-30.0 20.5 -7.1
95 17 27
146 17 30
116 4 21
-20.5 -76.5 -30.0
72 5 18
56 5 14
62 8 17
10.7 60.0 21.4
161 13 41
160 15 42
-0.6 15.4 2.4
2178 946 2310
2102 822 2330
2328 940 2390
10.8 14.4 2.6
1393 651 1532
990 484 1197
1113 511 1370
12.4 5.6 14.5
3200 1461 3571
2743 1313 3427
-14.3 -10.1 -4.0
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Jan 2007 Mar 2007
10 Jan 2008 Mar 2008
%
Col. 9 & 10 Percentage Variance
%
COQUITLAM DETACHED ATTACHED APARTMENTS
DELTA DETACHED ATTACHED APARTMENTS
MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS
NORTH VANCOUVER DETACHED ATTACHED APARTMENTS
NEW WESTMINSTER DETACHED ATTACHED APARTMENTS
PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS
PORT COQUITLAM DETACHED ATTACHED APARTMENTS
RICHMOND DETACHED ATTACHED APARTMENTS
SUNSHINE COAST DETACHED ATTACHED APARTMENTS
SQUAMISH DETACHED ATTACHED APARTMENTS
VANCOUVER EAST DETACHED ATTACHED APARTMENTS
VANCOUVER WEST DETACHED ATTACHED APARTMENTS
WHISTLER DETACHED ATTACHED APARTMENTS
WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS
GRAND TOTALS DETACHED ATTACHED APARTMENTS
0
100
200
300
400
500
600
700
800
900
1000
CONDOMINIUM
ATTACHED
APARTMENTS
$407,288
$510,428
$918,593
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
IN THOUSANDS ($)
DETACHED
Real Estate Board of Greater Vancouver Average Price Graph January 1977 to March 2008
Housing market moderates for spring-time buyers VANCOUVER, B.C. – April 2, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that while there were fewer housing sales in March 2008 compared to last year, residential prices continued to climb. Residential property sales in Greater Vancouver totalled 2,997 in March 2008, a decline of 16.3 per cent from the 3,582 residential sales recorded in March 2007, and a decline of 25.7 per cent compared to the 4,033 sales in March 2006. New listings for detached, attached and apartment properties increased four per cent to 5,674 in March 2008 compared with March 2007, when 5,456 new units were listed. “The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.” Sales of detached properties declined 20.2 per cent to 1,116 from the 1,399 detached sales recorded during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties rose 12.1 per cent from March 2007 to $764,616. Sales of apartment properties in March 2008 declined 10.6 per cent to 1,370, compared to 1,532 sales in March 2007. The benchmark price of an apartment property increased 11.5 per cent from March 2007 to $389,609. Attached property sales in March 2008 are down 21.5 per cent to 511, compared with the 651 sales in March 2007. The benchmark price of an attached unit increased 10.6 per cent between March 2007 and 2008 to $473,543. Bright spots in Greater Vancouver in March 2008 compared to March 2007:
Attached: New Westminster............................up 142.9 per cent (17 units sold up from 7) Apartments: Port Moody/Belcarra......................up 31.6 per cent (50 units sold up from 38) Maple Ridge/Pitt Meadows............up 48.5 per cent (49 units sold up from 33)
-30The Real Estate industry is a key economic driver in British Columbia. In 2007, 38,050 homes changed hands in the Board’s area generating $1.065 billion in spin-offs. Total dollar volume of residential sales set a new record at $22.25 billion and total dollar volume of all sales set a record at $22.77 billion. The Real Estate Board of Greater Vancouver is an association representing more than 9,500 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.realtylink.org. *In August 2004, the Greater Vancouver and Fraser Valley boards upgraded our existing MLS systems to a common system called MLSLink. MLSLink® HPI is the latest version of the Board’s Housing Price Index (HPI) and is designed to accommodate the MLS upgrade and improve the legacy HPI product. For more information on real estate, statistics, and buying or selling a home, visit www.realtylink.org.
For more information please contact: Craig Munn, Assistant Manager, Communications Real Estate Board of Greater Vancouver Phone: (604) 730-3146 Fax: (604) 730-3102 E-mail: [email protected]
also available at www.realtylink.org
MLSLINK HOUSING PRICE INDEX
Preliminary Report
March 2008 PROPERTY TYPE Residential Detached
Attached
AREA Greater Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge New Westminster North Vancouver Pitt Meadows Port Coquitlam Port Moody Richmond Squamish Sunshine Coast Vancouver East Vancouver West West Vancouver Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
Apartment
North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West Greater Vancouver Burnaby Coquitlam South Delta Maple Ridge & Pitt Meadows
New Westminster North Vancouver Port Coquitlam Port Moody Richmond Vancouver East Vancouver West West Vancouver
BENCHMARK PRICE 3 MONTH AVG PRICE 1 YEAR 3 YEAR 5 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $564,979 0.5% $558,648 238.63 11.7 53.0 101.4 $764,616 0.9% $756,150 225.8 12.1 52.0 94.8 $761,085 2.0% $753,633 224.0 12.6 53.0 92.8 $664,219 4.2% $658,959 233.7 10.1 57.0 96.0 $671,811 2.8% $659,826 219.5 14.0 46.1 85.0 $458,666 2.0% $458,179 209.2 8.0 37.9 71.2 $621,253 4.8% $584,397 256.0 19.1 57.8 126.5 $928,636 2.2% $904,548 232.0 14.0 47.7 87.6 $490,749 6.3% $485,806 201.4 6.8 33.8 71.5 $528,960 3.9% $545,199 223.6 7.8 39.7 77.3 $720,095 10.0% $691,971 216.5 10.7 53.6 74.8 $758,915 1.6% $751,414 224.1 12.8 54.9 89.7 $579,496 8.9% $576,506 220.1 25.5 58.7 47.7 $435,595 5.6% $428,559 247.8 8.2 43.0 109.4 $688,888 1.8% $680,054 233.3 10.6 52.3 100.0 $1,448,310 2.5% $1,435,817 240.3 16.9 67.9 119.2 $1,484,877 4.7% $1,483,516 218.7 10.7 49.5 98.8 $473,543 0.7% $469,439 229.7 10.6 48.1 96.5 $459,610 1.4% $457,247 230.2 10.0 48.7 102.4 $438,757 3.0% $428,580 236.7 9.7 50.7 95.9 $438,324 4.8% $449,933 234.7 10.4 55.4 100.1 $317,119 1.8% $314,126 220.0 7.8 42.2 92.8 $622,096 2.8% $611,169 243.5 14.9 47.6 106.0 $381,971 2.4% $389,260 210.0 3.9 38.6 72.0 $412,870 2.5% $406,527 246.4 10.8 54.1 89.2 $461,832 1.3% $458,349 222.7 12.7 49.3 82.7 $524,024 2.6% $504,681 245.0 13.7 61.4 113.1 $711,645 3.0% $711,673 253.9 9.4 43.8 113.1 $389,609 0.5% $384,992 253.4 11.5 56.6 112.1 $344,105 1.1% $341,822 257.2 11.2 57.2 118.1 $300,948 1.9% $299,015 256.6 12.7 59.1 114.4 $360,974 4.5% $346,489 235.1 11.6 52.8 95.6 $259,819 2.8% $257,023 275.9 5.3 53.6 112.2 $302,132 1.9% $297,117 245.4 10.0 61.5 118.2 $401,764 1.9% $392,046 255.6 10.9 55.3 119.6 $259,645 1.6% $257,427 304.1 11.8 57.8 143.3 $304,326 2.2% $298,492 259.7 4.6 52.3 113.2 $322,190 1.2% $314,493 261.9 12.7 61.4 121.7 $335,150 1.7% $327,214 274.4 14.9 72.0 126.4 $496,214 1.0% $494,902 252.4 11.5 51.8 105.0 $627,058 7.8% $619,797 225.0 4.0 38.6 82.1
HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported.
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
Number of Sales
Median Selling Price
$648,500
$400,000
$298,000
Attached
Apartment
225
Attached
Detached
277
Detached
417
$335,000
Apartment
Apartment
$465,000
Attached
181
Attached
$727,000
233
Detached
Detached
$300,000
Apartment
418
$400,000
Apartment
$680,000
Attached
106
Attached
Detached
117
Detached
194
$354,000
Apartment
Apartment
$464,250
60
Attached
$723,750
77
Detached
Attached
$325,500
Apartment
Detached
$466,000
Attached
150
$736,500
Detached
Apartment
170
69
Attached
Apartment
97
Detached
Coquit lam $245,000
$414,000
$580,000
176
83
293
$285,000
$462,500
$639,500
180
74
227
$248,000
$455,000
$582,500
72
33
116
$287,900
$442,500
$626,000
55
30
81
$271,000
$449,000
$674,000
68
23
95
Delta South $282,500
$360,000
$570,600
47
37
142
$338,000
$455,500
$621,100
45
28
134
$325,000
n/a
$587,000
20
18
61
n/a
n/a
$627,000
16
7
44
n/a
n/a
$615,500
18
13
60
Islands - Gulf n/a
n/a
n/a
0
0
15
n/a
n/a
n/a
0
0
9
n/a
n/a
n/a
0
0
6
n/a
n/a
n/a
0
0
5
n/a
n/a
n/a
0
0
3
$215,000
$280,500
$449,900
85
154
355
$238,750
$328,000
$499,900
108
127
287
$208,000
$288,000
$455,900
33
79
160
$245,000
$326,250
$510,000
35
46
107
$244,000
$330,900
$497,450
49
55 91
17
20
$258,000
n/a
$501,450
205
17
64
$296,500
$394,000
$570,001
208
48
51
$267,000
n/a
$505,500
88
7
24
$286,250
n/a
n/a
63
19
17
$303,000
n/a
$588,700
Maple R id g e/Pitt M eadow s 113
$328,950
$548,000
$762,500
260
103
267
$375,000
$613,500
$917,500
258
80
235
$332,000
$552,500
$787,500
113
42
120
$365,000
$595,000
$920,000
93
35
81
$379,900
$590,000
$912,000
102
29
108
North Vanco uver
Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands
Year-to-date
Jan. Mar. 2007
Year-to-date
Jan. Mar. 2008
March 2007
February 2008
March 2008
Number of Sales
March 2008
2008
Port C oquitla m $218,000
$345,000
$469,000
105
66
127
$245,000
$382,000
$530,000
110
83
106
$223,750
$348,500
$479,900
50
34
57
$239,250
$397,400
$553,500
30
32
38
$248,000
$391,000
$530,000
49
31
48
Port M oody/B elcarra $290,000
$408,000
$703,500
83
61
53
$321,500
$429,250
$639,000
106
70
55
$304,950
$375,000
$615,000
38
22
21
$316,000
$428,000
$661,000
37
30
27
$321,500
$383,786
n/a
50
24
11
Richm ond $268,250
$404,950
$636,000
411
314
403
$328,000
$450,000
$705,900
422
283
371
$283,000
$409,900
$644,500
179
137
188
$337,500
$450,000
$733,000
144
104
130
$332,500
$454,400
$711,000
157
109
161
$259,900
$390,000
$448,000
45
38
59
$277,650
$425,000
$476,000
40
36
44
$274,900
n/a
$448,000
20
13
24
n/a
n/a
n/a
12
12
13
n/a
n/a
n/a
19
16
14
Squam ish
15
n/a
n/a
$362,970
8
18
134
n/a
n/a
$385,000
6
15
114
n/a
n/a
$361,135
3
7
61
n/a
n/a
$385,000
2
4
43
n/a
n/a
$370,000
4
4
43
Sunsh ine Co ast
3
y
Burnab
er New W estmin st
Vanco uver E ast $272,000
$463,500
$610,000
376
119
442
$317,500
$525,800
$660,000
364
85
356
$276,000
$465,500
$620,000
154
56
189
$315,000
$489,950
$651,500
120
30
128
$323,000
$532,540
$683,500
164
39
140
Vanco uver W est $392,750
$655,500
$1,231,000
1,284
169
393
$445,000
$717,000
$1,503,000
1,094
135
349
$410,000
$629,000
$1,227,500
536
74
170
$443,500
$717,000
$1,625,000
413
52
138
$453,000
$719,000
$1,474,000
404
55
136
Sound $690,000
n/a
$1,245,000
41
13
161
$712,500
n/a
$1,500,500
42
15
160
n/a
n/a
$1,333,500
18
5
72
n/a
n/a
$1,570,000
14
5
56
n/a
n/a
$1,620,000
17
8
62
5
26
53
21
n/a
n/a
n/a
14
18
13
n/a
n/a
n/a
13
18
10
n/a
n/a
n/a
8
19
$352,250
$623,750
$1,162,500
28
44
30
$285,000
$700,000
$1,010,000
Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
3,571
1,461
3,215
n/a
3,427
1,313
2,752
n/a
1,532
651
1,399
n/a
1,197
484
995
n/a
1,370
511
1,116
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
Number of Listings
% Sales to Listings
52%
61%
56%
Attached
Apartment
370
Attached
Detached
535
Detached
746
53%
Apartment
Apartment
47%
Attached
382
Attached
43%
545
Detached
Detached
65%
Apartment
790
66%
Apartment
52%
Attached
160
Attached
Detached
227
Detached
300
56%
Apartment
Apartment
43%
138
Attached
49%
157
Detached
Attached
62%
Apartment
Detached
50%
Attached
268
44%
Detached
Apartment
274
139
Attached
Apartment
218
Detached
Coquit lam 66%
65%
58%
267
128
503
44%
40%
40%
405
184
568
71%
57%
56%
102
58
206
38%
52%
42%
145
58
194
54%
33%
39%
126
70
241
Delta South 61%
79%
66%
77
47
214
64%
70%
50%
70
40
266
57%
164%
74%
35
11
82
53%
44%
50%
30
16
88
106%
144%
57%
17
9
105
Islands - Gulf n/a
n/a
37%
0
0
41
n/a
0%
35%
0
1
26
n/a
n/a
27%
0
0
22
n/a
n/a
83%
0
0
6
n/a
n/a
19%
0
0
16
69%
65%
63%
123
238
564
47%
70%
44%
228
181
651
63%
79%
70%
52
100
230
33%
96%
54%
105
48
197
72%
73%
46%
68
75
246
Maple R id g e/Pitt M eadow s 61%
47%
59%
338
36
109
48%
59%
42%
436
82
121
81%
41%
73%
109
17
33
47%
49%
36%
135
39
47
54%
106%
49%
167
16
41
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Mar. 2007
Year-to-date*
Jan. Mar. 2008
March 2007
February 2008
March 2008
Number of Listings
March 2008
2008
North Vanco uver 68%
79%
67%
385
131
396
61%
46%
52%
420
173
449
83%
86%
83%
136
49
145
60%
58%
53%
155
60
152
80%
41%
66%
128
71
163
Port C oquitla m 62%
67%
63%
169
98
203
55%
56%
43%
200
147
245
79%
85%
61%
63
40
93
47%
60%
38%
64
53
101
70%
67%
56%
70
46
86
Port M oody/B elcarra 38%
61%
50%
219
100
107
42%
57%
40%
251
122
138
38%
65%
43%
101
34
49
51%
91%
55%
72
33
49
48%
52%
23%
104
46
48
Richm ond 57%
64%
57%
719
494
705
47%
65%
48%
892
434
765
60%
62%
66%
296
220
287
43%
72%
56%
333
144
234
49%
64%
58%
323
170
278
Squam ish 66%
88%
78%
68
43
76
95%
52%
37%
42
69
120
133%
72%
73%
15
18
33
80%
75%
31%
15
16
42
211%
40%
29%
9
40
48
50%
86%
44%
16
21
306
22%
35%
35%
27
43
328
33%
117%
54%
9
6
114
40%
21%
36%
5
19
118
133%
57%
37%
3
7
116
Sunsh ine Co ast
15
60%
73%
54%
627
164
820
59%
49%
42%
619
173
852
59%
90%
57%
260
62
334
56%
64%
42%
215
47
303
68%
48%
42%
241
81
332
Vanco uver E ast
3
y
Burnab
er New W estmin st
Vanco uver W est 64%
56%
67%
2,002
301
586
49%
40%
47%
2,242
341
745
68%
56%
74%
783
132
231
57%
50%
57%
726
105
241
50%
41%
51%
811
133
268
Sound 47%
38%
60%
87
34
268
48%
42%
40%
88
36
399
67%
29%
76%
27
17
95
47%
29%
38%
30
17
146
81%
200%
53%
21
4
116
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
32%
63%
58%
87
70
52
25%
57%
28%
104
93
76
64%
82%
68%
22
22
19
41%
62%
30%
32
29
33
29%
58%
23%
28
33
22
Whistl er/Pem berton n/a
5,930
2,275
5,485
n/a
6,814
2,501
6,294
n/a
2,310
946
2,200
n/a
2,330
822
2,108
n/a
2,390
940
2,344
Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings
Sales
1 Mar 2007
2 Feb 2008
3 Mar 2008
5 Mar 2007
6 Feb 2008
7 Mar 2008
227 160 300
157 138 268
218 139 274
38.9 0.7 2.2
117 106 194
77 60 150
97 69 170
26.0 15.0 13.3
277 225 417
233 181 418
-15.9 -19.6 0.2
206 58 102
194 58 145
241 70 126
24.2 20.7 -13.1
116 33 72
81 30 55
95 23 68
17.3 -23.3 23.6
293 83 176
227 74 180
-22.5 -10.8 2.3
82 11 35
88 16 30
105 9 17
19.3 -43.8 -43.3
61 18 20
44 7 16
60 13 18
36.4 85.7 12.5
142 37 47
134 28 45
-5.6 -24.3 -4.3
230 100 52
197 48 105
246 75 68
24.9 56.3 -35.2
160 79 33
107 46 35
113 55 49
5.6 19.6 40.0
355 154 85
287 127 108
-19.2 -17.5 27.1
145 49 136
152 60 155
163 71 128
7.2 18.3 -17.4
120 42 113
81 35 93
108 29 102
33.3 -17.1 9.7
267 103 260
235 80 258
-12.0 -22.3 -0.8
33 17 109
47 39 135
41 16 167
-12.8 -59.0 23.7
24 7 88
17 19 63
20 17 91
17.6 -10.5 44.4
64 17 205
51 48 208
-20.3 182.4 1.5
49 34 101
49 33 72
48 46 104
-2.0 39.4 44.4
21 22 38
27 30 37
11 24 50
-59.3 -20.0 35.1
53 61 83
55 70 106
3.8 14.8 27.7
93 40 63
101 53 64
86 46 70
-14.9 -13.2 9.4
57 34 50
38 32 30
48 31 49
26.3 -3.1 63.3
127 66 105
106 83 110
-16.5 25.8 4.8
287 220 296
234 144 333
278 170 323
18.8 18.1 -3.0
188 137 179
130 104 144
161 109 157
23.8 4.8 9.0
403 314 411
371 283 422
-7.9 -9.9 2.7
114 6 9
118 19 5
116 7 3
-1.7 -63.2 -40.0
61 7 3
43 4 2
43 4 4
0.0 0.0 100.0
134 18 8
114 15 6
-14.9 -16.7 -25.0
33 18 15
42 16 15
48 40 9
14.3 150.0 -40.0
24 13 20
13 12 12
14 16 19
7.7 33.3 58.3
59 38 45
44 36 40
-25.4 -5.3 -11.1
334 62 260
303 47 215
332 81 241
9.6 72.3 12.1
189 56 154
128 30 120
140 39 164
9.4 30.0 36.7
442 119 376
356 85 364
-19.5 -28.6 -3.2
231 132 783
241 105 726
268 133 811
11.2 26.7 11.7
170 74 536
138 52 413
136 55 404
-1.4 5.8 -2.2
393 169 1284
349 135 1094
-11.2 -20.1 -14.8
19 22 22
33 29 32
22 33 28
-33.3 13.8 -12.5
13 18 14
10 18 13
5 19 8
-50.0 5.6 -38.5
30 44 28
21 53 26
-30.0 20.5 -7.1
95 17 27
146 17 30
116 4 21
-20.5 -76.5 -30.0
72 5 18
56 5 14
62 8 17
10.7 60.0 21.4
161 13 41
160 15 42
-0.6 15.4 2.4
2178 946 2310
2102 822 2330
2328 940 2390
10.8 14.4 2.6
1393 651 1532
990 484 1197
1113 511 1370
12.4 5.6 14.5
3200 1461 3571
2743 1313 3427
-14.3 -10.1 -4.0
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Jan 2007 Mar 2007
10 Jan 2008 Mar 2008
%
Col. 9 & 10 Percentage Variance
%
COQUITLAM DETACHED ATTACHED APARTMENTS
DELTA DETACHED ATTACHED APARTMENTS
MAPLE RIDGE/PITT MEADOWS DETACHED ATTACHED APARTMENTS
NORTH VANCOUVER DETACHED ATTACHED APARTMENTS
NEW WESTMINSTER DETACHED ATTACHED APARTMENTS
PORT MOODY/BELCARRA DETACHED ATTACHED APARTMENTS
PORT COQUITLAM DETACHED ATTACHED APARTMENTS
RICHMOND DETACHED ATTACHED APARTMENTS
SUNSHINE COAST DETACHED ATTACHED APARTMENTS
SQUAMISH DETACHED ATTACHED APARTMENTS
VANCOUVER EAST DETACHED ATTACHED APARTMENTS
VANCOUVER WEST DETACHED ATTACHED APARTMENTS
WHISTLER DETACHED ATTACHED APARTMENTS
WEST VANCOUVER/HOWE SOUND DETACHED ATTACHED APARTMENTS
GRAND TOTALS DETACHED ATTACHED APARTMENTS
0
100
200
300
400
500
600
700
800
900
1000
CONDOMINIUM
ATTACHED
APARTMENTS
$407,288
$510,428
$918,593
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
IN THOUSANDS ($)
DETACHED
Real Estate Board of Greater Vancouver Average Price Graph January 1977 to March 2008
