REBGV Stats Package - Burnaby Condo
News Release FOR IMMEDIATE RELEASE
Stability and regional ‘hot spots’ characterize January housing market VANCOUVER, B.C. – February 2, 2011 – The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities. The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January. “There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). "We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.” Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7 per cent over the same period. “When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,” Moldowan said Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in January 2009. From a historical perspective, January’s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the region over the last ten years. New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This represents a 6.7 per cent decrease compared to January 2010 when 5,147 properties were listed, and a 182 per cent increase compared to December 2010 when 1,699 homes were added to the MLS® in Greater Vancouver. At 10,438, the total number of residential property listings on the MLS® increased 5.8 per cent in January compared to last month and increased 2.2 per cent from this time last year. Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 per cent from the 705 detached sales recorded in January 2010, and a 171.6 per cent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 per cent from January 2010 to $810,045. Sales of apartment properties reached 713 in January 2011, a decline of 20.8 per cent compared to the 891 sales in January 2010, and an increase of 97.5 per cent compared to the 361 sales in January 2009.The benchmark price of an apartment property increased 1.4 per cent from January 2010 to $390,935. Attached property sales in January 2011 totalled 313, a decline of 4.3 per cent compared to the 327 sales in January 2010, and a 187.2 per cent increase from the 109 attached properties sold in January 2009. The benchmark price of an attached unit increased 2.6 per cent between January 2010 and 2011 to $495,140. -30The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board's area, generating $1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member 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.rebgv.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
January 2011 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 % % % $585,068 0.7% $580,985 247.11 2.1 6.6 37.4 $810,045 1.3% $802,408 239.2 2.7 9.1 38.7 $812,874 2.5% $805,374 239.3 6.0 10.4 38.0 $680,383 5.7% $675,088 239.3 -1.5 3.2 31.0 $655,818 5.8% $638,076 214.3 -0.8 1.0 25.0 $438,983 3.3% $436,095 200.3 -4.3 -4.1 20.0 $567,582 7.3% $589,856 233.9 -5.4 5.1 16.9 $877,180 3.3% $875,910 219.1 -3.3 -2.9 22.1 $485,528 6.9% $504,187 199.3 -2.5 6.7 26.1 $507,426 6.0% $542,285 214.5 -9.6 -7.8 22.3 $643,628 9.7% $686,494 193.5 -18.1 1.5 20.1 $1,037,689 1.8% $975,124 306.4 22.6 43.9 80.3 $568,619 13.0% $514,162 216.0 20.3 0.1 39.9 $381,183 9.5% $390,930 216.9 -8.1 -9.7 6.0 $749,886 2.4% $745,063 254.0 2.7 12.7 41.7 $1,765,927 2.5% $1,704,876 293.0 12.2 25.6 76.9 $1,397,025 5.0% $1,425,145 205.8 -1.2 -6.2 23.9 $495,140 1.0% $491,580 240.2 2.6 7.0 38.9 $483,922 1.8% $489,759 242.4 4.0 7.6 36.2 $441,854 2.5% $423,173 238.3 0.7 4.9 32.5 $464,108 9.5% $473,017 248.5 -10.2 2.0 41.7 $309,664 2.7% $304,735 214.8 1.1 -1.8 28.1 $592,640 3.1% $589,708 231.9 1.1 0.2 27.9 $411,135 2.8% $397,066 226.1 4.4 4.9 28.3 $410,935 4.0% $409,143 245.2 6.6 3.1 34.0 $532,379 1.6% $525,502 256.7 6.6 17.7 52.7 $548,612 4.0% $534,470 256.5 8.4 13.1 56.1 $725,171 3.7% $748,748 258.8 -4.3 3.8 39.5 $390,935 0.7% $389,073 254.3 1.4 3.3 35.6 $355,927 1.4% $353,713 266.0 1.8 5.0 40.4 $299,062 2.5% $292,827 255.0 0.8 2.4 35.0 $343,931 7.6% $348,137 224.0 -8.6 1.9 24.2 $223,330 4.8% $230,336 237.2 -7.2 -10.8 15.9 $297,382 2.4% $296,475 241.6 5.4 3.2 42.2 $379,620 3.2% $377,737 241.5 -0.9 -0.2 27.5 $253,224 3.0% $250,553 296.6 0.0 -0.3 33.0 $298,472 4.1% $296,329 254.7 -0.7 4.3 21.0 $346,037 1.4% $344,322 281.2 5.9 12.5 47.8 $328,913 2.4% $325,134 269.3 -2.5 3.7 37.4 $502,227 1.3% $500,498 255.5 2.5 2.5 33.9 $606,425 10.9% $615,398 217.6 -5.0 -3.4 26.6
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.
Jan 2011 Sep 2010 May 2010 Jan 2010 Sep 2009 May 2009
May 2008 Apartment
Jan 2008 Sep 2007 May 2007 Jan 2007 Sep 2006
Attached
May 2006 Jan 2006 Sep 2005 May 2005 Jan 2005
Detached
Sep 2004 May 2004 Jan 2004 Sep 2003 May 2003 Jan 2003 Sep 2002 Jan 2002 Sep 2001 May 2001 80
100
120
140
160
180
200
220
240
Jan 2001 260
Year 2001 average = 100
May 2002
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Sep 2008
Price Index
Price Index - Greater Vancouver 10 Year Trend
Jan 2009
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
$812,000
$459,000
$340,000
Attached
Apartment
56
Attached
Detached
68
Detached
112
$362,500
Apartment
Apartment
$510,000
Attached
40
Attached
$796,500
76
Detached
Detached
$340,000
Apartment
111
$459,000
Attached
Apartment
$812,000
56
Attached
Detached
68
Detached
112
$348,000
Apartment
$457,500
Apartment
49
Attached
Attached
74
Detached
$789,750
$362,500
Apartment
Detached
$510,000
Attached
110
$796,500
Detached
Apartment
111
40
Attached
Apartment
76
Detached
65
Coquit lam $270,000
$484,063
$649,750
53
26
66
$278,000
$494,900
$684,000
39
38
65
$270,000
$484,063
$649,750
53
26
66
$277,500
$350,500
$670,000
48
31
61
$278,000
$494,900
$684,000
39
38
Delta South n/a
n/a
n/a
7
1
16
n/a
n/a
$588,000
4
3
30
n/a
n/a
n/a
7
1
16
n/a
n/a
$620,000
7
2
24
n/a
n/a
$588,000
4
3
30
Islands - Gulf n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
2
n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
0
n/a
n/a
n/a
0
0
2
n/a
$314,000
$474,900
18
25
72
n/a
$298,819
$457,943
10
26
66
n/a
$314,000
$474,900
18
25
72
$219,500
$290,000
$444,875
20
29
64
n/a
$298,819
$457,943
10
26
n/a
n/a
45
7
12
$293,000
n/a
n/a
47
10
10
$315,000
n/a
n/a
45
7
12
$293,000
n/a
n/a
47
10
10
$316,000
n/a
$635,000
61
0
25
$315,000
Maple R id g e/Pitt M eadow s 66
$409,000
$639,900
$885,000
55
25
40
$349,000
$540,000
$897,500
34
22
46
$409,000
$639,900
$885,000
55
25
40
$378,500
n/a
$823,000
46
14
49
$349,000
$540,000
$897,500
34
22
46
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. Jan. 2010
Year-to-date
Jan. Jan. 2011
January 2010
December 2010
January 2011
Number of Sales
January 2011
2011
Port C oquitla m n/a
n/a
$513,000
19
7
25
n/a
n/a
$503,933
13
17
22
n/a
n/a
$513,000
19
7
25
n/a
$355,500
$472,000
14
26
29
n/a
n/a
$503,933
13
17
22
7
$327,500
n/a
n/a
22
11
13
n/a
n/a
n/a
13
15
7
$327,500
n/a
n/a
22
11
13
n/a
n/a
n/a
14
14
17
n/a
n/a
n/a
13
124
74
162
Richm ond $322,000
$448,000
$849,000
142
72
113
$341,500
$517,500
$1,021,500
124
74
162
$322,000
$448,000
$849,000
142
72
113
$338,400
$528,500
$940,000
136
72
130
$341,500
$517,500
$1,021,500
Port M oody/B elcarra 15
n/a
n/a
n/a
10
6
9
n/a
n/a
n/a
2
2
5
n/a
n/a
n/a
10
6
9
n/a
n/a
n/a
4
2
11
n/a
n/a
n/a
2
2
5
Squam ish
18
n/a
n/a
$459,900
2
2
27
n/a
n/a
n/a
3
2
16
n/a
n/a
$459,900
2
2
27
n/a
n/a
$408,250
1
4
32
n/a
n/a
n/a
3
2
16
Sunsh ine Co ast
1
y
Burnab
er New W estmin st
Vanco uver E ast $327,200
$539,000
$695,000
90
36
112
$332,500
n/a
$750,000
74
19
99
$327,200
$539,000
$695,000
90
36
112
$342,000
n/a
$745,000
59
14
85
$332,500
n/a
$750,000
74
19
99
Vanco uver W est $453,000
$810,000
$1,753,438
298
30
102
$478,800
$821,000
$2,030,000
226
36
134
$453,000
$810,000
$1,753,438
298
30
102
$457,943
$795,900
$1,850,000
269
46
116
$478,800
$821,000
$2,030,000
226
36
134
Sound n/a
n/a
$1,298,000
9
7
26
n/a
n/a
$1,405,000
8
5
46
n/a
n/a
$1,298,000
9
7
26
n/a
n/a
$1,575,000
12
2
50
n/a
n/a
$1,405,000
8
5
46
Wes t V a n couve r/Howe
MLS® SALES Facts
n/a
n/a
n/a
7
13
5
n/a
n/a
n/a
7
7
5
n/a
n/a
n/a
7
13
5
n/a
n/a
n/a
10
14
2
n/a
n/a
n/a
7
7
5
Whistl er/Pem berton n/a
891
327
705
n/a
713
313
793
n/a
891
327
705
n/a
811
319
769
n/a
713
313
793
% 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
39%
52%
40%
Apartment
108
Attached
Attached
174
Detached
Detached
43%
Apartment
277
34%
Apartment
61%
116
Attached
Attached
124
Detached
Detached
40%
Apartment
256
52%
Apartment
39%
Attached
108
Attached
Detached
174
Detached
277
109%
Apartment
148%
Apartment
33
Attached
Attached
46
Detached
161%
43%
Apartment
Detached
34%
Attached
101
61%
Detached
Apartment
256
116
Attached
Apartment
124
Detached
Coquit lam 41%
51%
42%
128
51
158
32%
53%
40%
122
72
161
41%
51%
42%
128
51
158
109%
111%
86%
44
28
71
32%
53%
40%
122
72
161
Delta South 29%
13%
25%
24
8
63
25%
21%
41%
16
14
74
29%
13%
25%
24
8
63
140%
100%
92%
5
2
26
25%
21%
41%
16
14
74
Islands - Gulf 0%
n/a
8%
2
0
13
0%
n/a
20%
2
0
10
0%
n/a
8%
2
0
13
n/a
0%
0%
0
1
6
0%
n/a
20%
2
0
10
16%
45%
36%
115
56
199
13%
41%
35%
75
64
189
16%
45%
36%
115
56
199
118%
138%
91%
17
21
70
13%
41%
35%
75
64
189
Maple R id g e/Pitt M eadow s 28%
83%
25%
169
12
40
27%
41%
27%
164
17
45
28%
83%
25%
169
12
40
85%
0%
179%
72
6
14
27%
41%
27%
164
17
45
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Jan. 2010
Year-to-date*
Jan. Jan. 2011
January 2010
December 2010
January 2011
Number of Listings
January 2011
2011
North Vanco uver 31%
54%
32%
177
46
125
26%
45%
33%
132
49
138
31%
54%
32%
177
46
125
82%
100%
223%
56
14
22
26%
45%
33%
132
49
138
Port C oquitla m 25%
23%
36%
75
30
69
19%
52%
38%
67
33
58
25%
23%
36%
75
30
69
88%
118%
132%
16
22
22
19%
52%
38%
67
33
58
Port M oody/B elcarra 31%
61%
29%
72
18
45
19%
60%
20%
68
25
35
31%
61%
29%
72
18
45
70%
156%
283%
20
9
6
19%
60%
20%
68
25
35
Richm ond 49%
57%
47%
291
127
238
50%
55%
50%
248
135
325
49%
57%
47%
291
127
238
101%
185%
117%
135
39
111
50%
55%
50%
248
135
325
Squam ish 67%
27%
24%
15
22
38
7%
20%
12%
27
10
43
67%
27%
24%
15
22
38
100%
20%
100%
4
10
11
7%
20%
12%
27
10
43
9%
9%
23%
22
22
115
60%
15%
19%
5
13
84
9%
9%
23%
22
22
115
100%
67%
84%
1
6
38
60%
15%
19%
5
13
84
Sunsh ine Co ast
18
42%
58%
45%
213
62
250
43%
33%
50%
173
57
198
42%
58%
45%
213
62
250
111%
117%
113%
53
12
75
43%
33%
50%
173
57
198
Vanco uver E ast
1
y
Burnab
er New W estmin st
Vanco uver W est 37%
27%
42%
815
112
244
33%
29%
45%
684
124
297
37%
27%
42%
815
112
244
126%
131%
143%
214
35
81
33%
29%
45%
684
124
297
Sound 19%
58%
18%
48
12
142
29%
33%
35%
28
15
130
19%
58%
18%
48
12
142
300%
100%
143%
4
2
35
29%
33%
35%
28
15
130
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
20%
32%
17%
35
41
29
20%
22%
42%
35
32
12
20%
32%
17%
35
41
29
32%
40%
12%
31
35
17
20%
22%
42%
35
32
12
Whistl er/Pem berton n/a
2,478
727
1,942
n/a
2,102
776
1,923
n/a
2,478
727
1,942
n/a
773
275
651
n/a
2,102
776
1,923
Listing & Sales Activity Summary Listings
Sales
1 Jan 2010
2 Dec 2010
3 Jan 2011
5 Jan 2010
6 Dec 2010
7 Jan 2011
174 108 277
46 33 101
124 116 256
169.6 251.5 153.5
68 56 112
74 49 110
76 40 111
2.7 -18.4 0.9
269 233 467
243 149 361
-9.7 -36.1 -22.7
158 51 128
71 28 44
161 72 122
126.8 157.1 177.3
66 26 53
61 31 48
65 38 39
6.6 22.6 -18.8
268 113 168
209 103 140
-22.0 -8.8 -16.7
63 8 24
26 2 5
74 14 16
184.6 600.0 220.0
16 1 7
24 2 7
30 3 4
25.0 50.0 -42.9
87 15 38
94 9 31
8.0 -40.0 -18.4
199 56 115
70 21 17
189 64 75
170.0 204.8 341.2
72 25 18
64 29 20
66 26 10
3.1 -10.3 -50.0
259 124 58
213 88 46
-17.8 -29.0 -20.7
125 46 177
22 14 56
138 49 132
527.3 250.0 135.7
40 25 55
49 14 46
46 22 34
-6.1 57.1 -26.1
198 80 230
178 58 152
-10.1 -27.5 -33.9
40 12 169
14 6 72
45 17 164
221.4 183.3 127.8
10 10 47
25 0 61
12 7 45
-52.0 700.0 -26.2
64 32 201
71 12 174
10.9 -62.5 -13.4
45 18 72
6 9 20
35 25 68
483.3 177.8 240.0
13 11 22
17 14 14
7 15 13
-58.8 7.1 -7.1
50 42 80
41 42 57
-18.0 0.0 -28.8
69 30 75
22 22 16
58 33 67
163.6 50.0 318.8
25 7 19
29 26 14
22 17 13
-24.1 -34.6 -7.1
106 41 90
85 65 51
-19.8 58.5 -43.3
238 127 291
111 39 135
325 135 248
192.8 246.2 83.7
113 72 142
130 72 136
162 74 124
24.6 2.8 -8.8
385 282 483
452 227 410
17.4 -19.5 -15.1
115 22 22
38 6 1
84 13 5
121.1 116.7 400.0
27 2 2
32 4 1
16 2 3
-50.0 -50.0 200.0
94 10 11
82 12 7
-12.8 20.0 -36.4
38 22 15
11 10 4
43 10 27
290.9 0.0 575.0
9 6 10
11 2 4
5 2 2
-54.5 0.0 -50.0
43 23 23
31 9 13
-27.9 -60.9 -43.5
250 62 213
75 12 53
198 57 173
164.0 375.0 226.4
112 36 90
85 14 59
99 19 74
16.5 35.7 25.4
401 103 351
317 72 225
-20.9 -30.1 -35.9
244 112 815
81 35 214
297 124 684
266.7 254.3 219.6
102 30 298
116 46 269
134 36 226
15.5 -21.7 -16.0
376 156 1178
411 138 847
9.3 -11.5 -28.1
29 41 35
17 35 31
12 32 35
-29.4 -8.6 12.9
5 13 7
2 14 10
5 7 7
150.0 -50.0 -30.0
16 42 29
14 37 25
-12.5 -11.9 -13.8
142 12 48
35 2 4
130 15 28
271.4 650.0 600.0
26 7 9
50 2 12
46 5 8
-8.0 150.0 -33.3
146 13 34
165 18 37
13.0 38.5 8.8
1929 727 2476
645 274 773
1913 776 2100
196.6 183.2 171.7
704 327 891
769 319 811
791 313 713
2.9 -1.9 -12.1
2762 1309 3441
2606 1039 2576
-5.6 -20.6 -25.1
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Nov 2009 Jan 2010
10 Nov 2010 Jan 2011
%
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
200
400
600
800
1000
1200
1400
DETACHED
CONDOMINIUM
ATTACHED
APARTMENTS
$441,491
$552,550
$1,144,537
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to January 2011
Stability and regional ‘hot spots’ characterize January housing market VANCOUVER, B.C. – February 2, 2011 – The Greater Vancouver housing market remained in balanced market conditions in January, although higher levels of buyer demand were seen in some of the region’s largest communities. The number of properties listed for sale and those sold on the Multiple Listing Service® (MLS®) last month outpaced the 10-year average in both categories for January. “There was a healthy balance between the number of home buyers and sellers in our market in January, but there’s always variation in activity from region to region,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). "We’re seeing strong sellers’ market conditions in areas like Richmond and the west side of Vancouver.” Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price of detached homes increased 22.6 per cent in Richmond and 12.2 per cent in Vancouver West. In comparison, detached home prices across the region increased 2.7 per cent over the same period. “When you’re looking to buy or sell a home, it’s important to familiarize yourself with the wider trends in the market. It’s equally important to seek out knowledge of your local area so you understand current market conditions in your neighbourhood,” Moldowan said Looking across the region, the REBGV reports that residential property sales in Greater Vancouver reached 1,819 on the MLS® in January 2011. This represents a 4.2 per cent decline compared to the 1,899 sales recorded in December 2010, a decrease of 5.4 per cent compared to the 1,923 sales in January 2010 and a 138.7 per cent increase from the 762 home sales in January 2009. From a historical perspective, January’s 1,819 homes sales slightly surpassed the 1,790 home sale average recorded in the region over the last ten years. New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,801 in January 2011. This represents a 6.7 per cent decrease compared to January 2010 when 5,147 properties were listed, and a 182 per cent increase compared to December 2010 when 1,699 homes were added to the MLS® in Greater Vancouver. At 10,438, the total number of residential property listings on the MLS® increased 5.8 per cent in January compared to last month and increased 2.2 per cent from this time last year. Sales of detached properties on the MLS® in January 2011 reached 793, an increase of 12.5 per cent from the 705 detached sales recorded in January 2010, and a 171.6 per cent increase from the 292 units sold in January 2009. The benchmark price for detached properties increased 2.7 per cent from January 2010 to $810,045. Sales of apartment properties reached 713 in January 2011, a decline of 20.8 per cent compared to the 891 sales in January 2010, and an increase of 97.5 per cent compared to the 361 sales in January 2009.The benchmark price of an apartment property increased 1.4 per cent from January 2010 to $390,935. Attached property sales in January 2011 totalled 313, a decline of 4.3 per cent compared to the 327 sales in January 2010, and a 187.2 per cent increase from the 109 attached properties sold in January 2009. The benchmark price of an attached unit increased 2.6 per cent between January 2010 and 2011 to $495,140. -30The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board's area, generating $1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member 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.rebgv.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
January 2011 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 % % % $585,068 0.7% $580,985 247.11 2.1 6.6 37.4 $810,045 1.3% $802,408 239.2 2.7 9.1 38.7 $812,874 2.5% $805,374 239.3 6.0 10.4 38.0 $680,383 5.7% $675,088 239.3 -1.5 3.2 31.0 $655,818 5.8% $638,076 214.3 -0.8 1.0 25.0 $438,983 3.3% $436,095 200.3 -4.3 -4.1 20.0 $567,582 7.3% $589,856 233.9 -5.4 5.1 16.9 $877,180 3.3% $875,910 219.1 -3.3 -2.9 22.1 $485,528 6.9% $504,187 199.3 -2.5 6.7 26.1 $507,426 6.0% $542,285 214.5 -9.6 -7.8 22.3 $643,628 9.7% $686,494 193.5 -18.1 1.5 20.1 $1,037,689 1.8% $975,124 306.4 22.6 43.9 80.3 $568,619 13.0% $514,162 216.0 20.3 0.1 39.9 $381,183 9.5% $390,930 216.9 -8.1 -9.7 6.0 $749,886 2.4% $745,063 254.0 2.7 12.7 41.7 $1,765,927 2.5% $1,704,876 293.0 12.2 25.6 76.9 $1,397,025 5.0% $1,425,145 205.8 -1.2 -6.2 23.9 $495,140 1.0% $491,580 240.2 2.6 7.0 38.9 $483,922 1.8% $489,759 242.4 4.0 7.6 36.2 $441,854 2.5% $423,173 238.3 0.7 4.9 32.5 $464,108 9.5% $473,017 248.5 -10.2 2.0 41.7 $309,664 2.7% $304,735 214.8 1.1 -1.8 28.1 $592,640 3.1% $589,708 231.9 1.1 0.2 27.9 $411,135 2.8% $397,066 226.1 4.4 4.9 28.3 $410,935 4.0% $409,143 245.2 6.6 3.1 34.0 $532,379 1.6% $525,502 256.7 6.6 17.7 52.7 $548,612 4.0% $534,470 256.5 8.4 13.1 56.1 $725,171 3.7% $748,748 258.8 -4.3 3.8 39.5 $390,935 0.7% $389,073 254.3 1.4 3.3 35.6 $355,927 1.4% $353,713 266.0 1.8 5.0 40.4 $299,062 2.5% $292,827 255.0 0.8 2.4 35.0 $343,931 7.6% $348,137 224.0 -8.6 1.9 24.2 $223,330 4.8% $230,336 237.2 -7.2 -10.8 15.9 $297,382 2.4% $296,475 241.6 5.4 3.2 42.2 $379,620 3.2% $377,737 241.5 -0.9 -0.2 27.5 $253,224 3.0% $250,553 296.6 0.0 -0.3 33.0 $298,472 4.1% $296,329 254.7 -0.7 4.3 21.0 $346,037 1.4% $344,322 281.2 5.9 12.5 47.8 $328,913 2.4% $325,134 269.3 -2.5 3.7 37.4 $502,227 1.3% $500,498 255.5 2.5 2.5 33.9 $606,425 10.9% $615,398 217.6 -5.0 -3.4 26.6
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.
Jan 2011 Sep 2010 May 2010 Jan 2010 Sep 2009 May 2009
May 2008 Apartment
Jan 2008 Sep 2007 May 2007 Jan 2007 Sep 2006
Attached
May 2006 Jan 2006 Sep 2005 May 2005 Jan 2005
Detached
Sep 2004 May 2004 Jan 2004 Sep 2003 May 2003 Jan 2003 Sep 2002 Jan 2002 Sep 2001 May 2001 80
100
120
140
160
180
200
220
240
Jan 2001 260
Year 2001 average = 100
May 2002
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Sep 2008
Price Index
Price Index - Greater Vancouver 10 Year Trend
Jan 2009
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
$812,000
$459,000
$340,000
Attached
Apartment
56
Attached
Detached
68
Detached
112
$362,500
Apartment
Apartment
$510,000
Attached
40
Attached
$796,500
76
Detached
Detached
$340,000
Apartment
111
$459,000
Attached
Apartment
$812,000
56
Attached
Detached
68
Detached
112
$348,000
Apartment
$457,500
Apartment
49
Attached
Attached
74
Detached
$789,750
$362,500
Apartment
Detached
$510,000
Attached
110
$796,500
Detached
Apartment
111
40
Attached
Apartment
76
Detached
65
Coquit lam $270,000
$484,063
$649,750
53
26
66
$278,000
$494,900
$684,000
39
38
65
$270,000
$484,063
$649,750
53
26
66
$277,500
$350,500
$670,000
48
31
61
$278,000
$494,900
$684,000
39
38
Delta South n/a
n/a
n/a
7
1
16
n/a
n/a
$588,000
4
3
30
n/a
n/a
n/a
7
1
16
n/a
n/a
$620,000
7
2
24
n/a
n/a
$588,000
4
3
30
Islands - Gulf n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
2
n/a
n/a
n/a
0
0
1
n/a
n/a
n/a
0
0
0
n/a
n/a
n/a
0
0
2
n/a
$314,000
$474,900
18
25
72
n/a
$298,819
$457,943
10
26
66
n/a
$314,000
$474,900
18
25
72
$219,500
$290,000
$444,875
20
29
64
n/a
$298,819
$457,943
10
26
n/a
n/a
45
7
12
$293,000
n/a
n/a
47
10
10
$315,000
n/a
n/a
45
7
12
$293,000
n/a
n/a
47
10
10
$316,000
n/a
$635,000
61
0
25
$315,000
Maple R id g e/Pitt M eadow s 66
$409,000
$639,900
$885,000
55
25
40
$349,000
$540,000
$897,500
34
22
46
$409,000
$639,900
$885,000
55
25
40
$378,500
n/a
$823,000
46
14
49
$349,000
$540,000
$897,500
34
22
46
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. Jan. 2010
Year-to-date
Jan. Jan. 2011
January 2010
December 2010
January 2011
Number of Sales
January 2011
2011
Port C oquitla m n/a
n/a
$513,000
19
7
25
n/a
n/a
$503,933
13
17
22
n/a
n/a
$513,000
19
7
25
n/a
$355,500
$472,000
14
26
29
n/a
n/a
$503,933
13
17
22
7
$327,500
n/a
n/a
22
11
13
n/a
n/a
n/a
13
15
7
$327,500
n/a
n/a
22
11
13
n/a
n/a
n/a
14
14
17
n/a
n/a
n/a
13
124
74
162
Richm ond $322,000
$448,000
$849,000
142
72
113
$341,500
$517,500
$1,021,500
124
74
162
$322,000
$448,000
$849,000
142
72
113
$338,400
$528,500
$940,000
136
72
130
$341,500
$517,500
$1,021,500
Port M oody/B elcarra 15
n/a
n/a
n/a
10
6
9
n/a
n/a
n/a
2
2
5
n/a
n/a
n/a
10
6
9
n/a
n/a
n/a
4
2
11
n/a
n/a
n/a
2
2
5
Squam ish
18
n/a
n/a
$459,900
2
2
27
n/a
n/a
n/a
3
2
16
n/a
n/a
$459,900
2
2
27
n/a
n/a
$408,250
1
4
32
n/a
n/a
n/a
3
2
16
Sunsh ine Co ast
1
y
Burnab
er New W estmin st
Vanco uver E ast $327,200
$539,000
$695,000
90
36
112
$332,500
n/a
$750,000
74
19
99
$327,200
$539,000
$695,000
90
36
112
$342,000
n/a
$745,000
59
14
85
$332,500
n/a
$750,000
74
19
99
Vanco uver W est $453,000
$810,000
$1,753,438
298
30
102
$478,800
$821,000
$2,030,000
226
36
134
$453,000
$810,000
$1,753,438
298
30
102
$457,943
$795,900
$1,850,000
269
46
116
$478,800
$821,000
$2,030,000
226
36
134
Sound n/a
n/a
$1,298,000
9
7
26
n/a
n/a
$1,405,000
8
5
46
n/a
n/a
$1,298,000
9
7
26
n/a
n/a
$1,575,000
12
2
50
n/a
n/a
$1,405,000
8
5
46
Wes t V a n couve r/Howe
MLS® SALES Facts
n/a
n/a
n/a
7
13
5
n/a
n/a
n/a
7
7
5
n/a
n/a
n/a
7
13
5
n/a
n/a
n/a
10
14
2
n/a
n/a
n/a
7
7
5
Whistl er/Pem berton n/a
891
327
705
n/a
713
313
793
n/a
891
327
705
n/a
811
319
769
n/a
713
313
793
% 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
39%
52%
40%
Apartment
108
Attached
Attached
174
Detached
Detached
43%
Apartment
277
34%
Apartment
61%
116
Attached
Attached
124
Detached
Detached
40%
Apartment
256
52%
Apartment
39%
Attached
108
Attached
Detached
174
Detached
277
109%
Apartment
148%
Apartment
33
Attached
Attached
46
Detached
161%
43%
Apartment
Detached
34%
Attached
101
61%
Detached
Apartment
256
116
Attached
Apartment
124
Detached
Coquit lam 41%
51%
42%
128
51
158
32%
53%
40%
122
72
161
41%
51%
42%
128
51
158
109%
111%
86%
44
28
71
32%
53%
40%
122
72
161
Delta South 29%
13%
25%
24
8
63
25%
21%
41%
16
14
74
29%
13%
25%
24
8
63
140%
100%
92%
5
2
26
25%
21%
41%
16
14
74
Islands - Gulf 0%
n/a
8%
2
0
13
0%
n/a
20%
2
0
10
0%
n/a
8%
2
0
13
n/a
0%
0%
0
1
6
0%
n/a
20%
2
0
10
16%
45%
36%
115
56
199
13%
41%
35%
75
64
189
16%
45%
36%
115
56
199
118%
138%
91%
17
21
70
13%
41%
35%
75
64
189
Maple R id g e/Pitt M eadow s 28%
83%
25%
169
12
40
27%
41%
27%
164
17
45
28%
83%
25%
169
12
40
85%
0%
179%
72
6
14
27%
41%
27%
164
17
45
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Jan. 2010
Year-to-date*
Jan. Jan. 2011
January 2010
December 2010
January 2011
Number of Listings
January 2011
2011
North Vanco uver 31%
54%
32%
177
46
125
26%
45%
33%
132
49
138
31%
54%
32%
177
46
125
82%
100%
223%
56
14
22
26%
45%
33%
132
49
138
Port C oquitla m 25%
23%
36%
75
30
69
19%
52%
38%
67
33
58
25%
23%
36%
75
30
69
88%
118%
132%
16
22
22
19%
52%
38%
67
33
58
Port M oody/B elcarra 31%
61%
29%
72
18
45
19%
60%
20%
68
25
35
31%
61%
29%
72
18
45
70%
156%
283%
20
9
6
19%
60%
20%
68
25
35
Richm ond 49%
57%
47%
291
127
238
50%
55%
50%
248
135
325
49%
57%
47%
291
127
238
101%
185%
117%
135
39
111
50%
55%
50%
248
135
325
Squam ish 67%
27%
24%
15
22
38
7%
20%
12%
27
10
43
67%
27%
24%
15
22
38
100%
20%
100%
4
10
11
7%
20%
12%
27
10
43
9%
9%
23%
22
22
115
60%
15%
19%
5
13
84
9%
9%
23%
22
22
115
100%
67%
84%
1
6
38
60%
15%
19%
5
13
84
Sunsh ine Co ast
18
42%
58%
45%
213
62
250
43%
33%
50%
173
57
198
42%
58%
45%
213
62
250
111%
117%
113%
53
12
75
43%
33%
50%
173
57
198
Vanco uver E ast
1
y
Burnab
er New W estmin st
Vanco uver W est 37%
27%
42%
815
112
244
33%
29%
45%
684
124
297
37%
27%
42%
815
112
244
126%
131%
143%
214
35
81
33%
29%
45%
684
124
297
Sound 19%
58%
18%
48
12
142
29%
33%
35%
28
15
130
19%
58%
18%
48
12
142
300%
100%
143%
4
2
35
29%
33%
35%
28
15
130
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
20%
32%
17%
35
41
29
20%
22%
42%
35
32
12
20%
32%
17%
35
41
29
32%
40%
12%
31
35
17
20%
22%
42%
35
32
12
Whistl er/Pem berton n/a
2,478
727
1,942
n/a
2,102
776
1,923
n/a
2,478
727
1,942
n/a
773
275
651
n/a
2,102
776
1,923
Listing & Sales Activity Summary Listings
Sales
1 Jan 2010
2 Dec 2010
3 Jan 2011
5 Jan 2010
6 Dec 2010
7 Jan 2011
174 108 277
46 33 101
124 116 256
169.6 251.5 153.5
68 56 112
74 49 110
76 40 111
2.7 -18.4 0.9
269 233 467
243 149 361
-9.7 -36.1 -22.7
158 51 128
71 28 44
161 72 122
126.8 157.1 177.3
66 26 53
61 31 48
65 38 39
6.6 22.6 -18.8
268 113 168
209 103 140
-22.0 -8.8 -16.7
63 8 24
26 2 5
74 14 16
184.6 600.0 220.0
16 1 7
24 2 7
30 3 4
25.0 50.0 -42.9
87 15 38
94 9 31
8.0 -40.0 -18.4
199 56 115
70 21 17
189 64 75
170.0 204.8 341.2
72 25 18
64 29 20
66 26 10
3.1 -10.3 -50.0
259 124 58
213 88 46
-17.8 -29.0 -20.7
125 46 177
22 14 56
138 49 132
527.3 250.0 135.7
40 25 55
49 14 46
46 22 34
-6.1 57.1 -26.1
198 80 230
178 58 152
-10.1 -27.5 -33.9
40 12 169
14 6 72
45 17 164
221.4 183.3 127.8
10 10 47
25 0 61
12 7 45
-52.0 700.0 -26.2
64 32 201
71 12 174
10.9 -62.5 -13.4
45 18 72
6 9 20
35 25 68
483.3 177.8 240.0
13 11 22
17 14 14
7 15 13
-58.8 7.1 -7.1
50 42 80
41 42 57
-18.0 0.0 -28.8
69 30 75
22 22 16
58 33 67
163.6 50.0 318.8
25 7 19
29 26 14
22 17 13
-24.1 -34.6 -7.1
106 41 90
85 65 51
-19.8 58.5 -43.3
238 127 291
111 39 135
325 135 248
192.8 246.2 83.7
113 72 142
130 72 136
162 74 124
24.6 2.8 -8.8
385 282 483
452 227 410
17.4 -19.5 -15.1
115 22 22
38 6 1
84 13 5
121.1 116.7 400.0
27 2 2
32 4 1
16 2 3
-50.0 -50.0 200.0
94 10 11
82 12 7
-12.8 20.0 -36.4
38 22 15
11 10 4
43 10 27
290.9 0.0 575.0
9 6 10
11 2 4
5 2 2
-54.5 0.0 -50.0
43 23 23
31 9 13
-27.9 -60.9 -43.5
250 62 213
75 12 53
198 57 173
164.0 375.0 226.4
112 36 90
85 14 59
99 19 74
16.5 35.7 25.4
401 103 351
317 72 225
-20.9 -30.1 -35.9
244 112 815
81 35 214
297 124 684
266.7 254.3 219.6
102 30 298
116 46 269
134 36 226
15.5 -21.7 -16.0
376 156 1178
411 138 847
9.3 -11.5 -28.1
29 41 35
17 35 31
12 32 35
-29.4 -8.6 12.9
5 13 7
2 14 10
5 7 7
150.0 -50.0 -30.0
16 42 29
14 37 25
-12.5 -11.9 -13.8
142 12 48
35 2 4
130 15 28
271.4 650.0 600.0
26 7 9
50 2 12
46 5 8
-8.0 150.0 -33.3
146 13 34
165 18 37
13.0 38.5 8.8
1929 727 2476
645 274 773
1913 776 2100
196.6 183.2 171.7
704 327 891
769 319 811
791 313 713
2.9 -1.9 -12.1
2762 1309 3441
2606 1039 2576
-5.6 -20.6 -25.1
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Nov 2009 Jan 2010
10 Nov 2010 Jan 2011
%
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
200
400
600
800
1000
1200
1400
DETACHED
CONDOMINIUM
ATTACHED
APARTMENTS
$441,491
$552,550
$1,144,537
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to January 2011
