REBGV Stats Package, November 2011 - Lisa MacIntosh
News Release FOR IMMEDIATE RELEASE
Historically normal activity keeps the Greater Vancouver housing market in a balanced state VANCOUVER, B.C. – December 2, 2011 – The Greater Vancouver housing market saw relatively typical home sale and listing activity in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011. Looking back further, last month’s residential sales total is 5.8 per cent below the ten-year average for sales in November. “The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year,” Rosario Setticasi, REBGV president said. “November activity helped put our market firmly in balanced territory.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,222 in November. This represents a 26.3 per cent decline compared to the 4,374 new listings reported in October 2011, but a 6.3 per cent increase compared to November 2010 when 3,030 properties were listed for sale on the MLS®. Looking back further, last month’s new listing total is 2.1 per cent above the ten-year average for November. The total number of properties currently listed for sale on the Greater Vancouver MLS® sits at 14,090, a decline of 9 per cent compared to October 2011 but an increase of 13 per cent when compared to this time last year. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.2 per cent to $622,087 in November 2011 from $580,080 in November 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.4 per cent. Sales of detached properties on the MLS® in November 2011 reached 916, a decrease of 12.8 per cent from the 1,050 detached sales recorded in November 2010, and a 21.3 per cent decrease from the 1,164 units sold in November 2009. The benchmark price for detached properties increased 11.4 per cent from November 2010 to $890,204. Sales of apartment properties reached 1,000 in November 2011, a 4.9 per cent decrease compared to the 1,052 sales in November 2010, and a decrease of 28.4 per cent compared to the 1,396 sales in November 2009. The benchmark price of an apartment property increased 2.7 per cent from November 2010 to $399,686. Attached property sales in November 2011 totalled 444, a 9.1 per cent increase compared to the 407 sales in November 2010, and a 15.1 per cent decrease from the 523 attached properties sold in November 2009. The benchmark price of an attached unit increased 4.5 per cent between November 2010 and 2011 to $510,960. -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
November 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 10 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE CHANGE (+/-) PRICE % % % % $622,087 0.7% $624,345 262.7 7.2 25.5 29.6 158.4 $890,204 1.4% $890,561 262.9 11.4 33.6 37.5 160.8 $911,365 2.6% $919,411 268.3 14.9 39.2 41.9 166.3 $689,527 6.2% $708,098 242.6 1.1 12.0 18.2 139.5 $686,430 4.9% $718,209 224.3 11.2 21.0 19.8 117.2 $448,315 3.4% $448,564 204.5 1.9 6.4 6.3 97.5 $683,503 4.2% $659,143 281.7 13.5 26.7 33.0 188.0 $985,731 2.9% $970,670 246.2 11.0 31.7 26.3 142.9 $520,416 9.0% $523,738 213.6 -0.6 7.5 21.5 111.0 $581,502 5.1% $554,671 245.8 5.2 12.9 21.4 139.7 $751,345 15.4% $768,754 225.9 4.4 29.8 17.4 128.8 $1,061,256 2.7% $1,071,538 313.3 15.3 56.1 66.6 215.9 $530,896 10.8% $492,615 201.7 10.6 -9.6 19.7 91.6 $374,502 7.1% $399,287 213.1 -6.7 -11.2 -2.7 103.7 $863,183 2.4% $853,701 292.4 15.9 42.6 46.3 189.6 $2,019,926 2.7% $2,019,783 335.2 18.9 81.0 81.5 238.5 $1,759,616 4.2% $1,723,444 259.2 23.9 37.1 46.4 153.6 $510,960 0.9% $515,704 247.8 4.5 19.9 24.6 141.7 $502,422 1.5% $501,251 251.7 2.4 17.2 26.4 145.0 $460,110 3.1% $467,839 248.2 12.5 16.5 22.0 145.5 $479,920 7.0% $483,405 257.0 1.4 7.3 24.9 168.2 $302,655 2.5% $308,928 209.9 -1.1 0.2 6.3 109.9 $645,539 2.5% $641,032 252.6 11.1 18.3 25.8 148.8 $410,259 3.2% $409,273 225.6 6.8 16.8 18.7 123.7 $414,007 3.8% $406,585 247.1 2.0 8.6 18.7 141.0 $542,648 1.6% $544,884 261.7 3.5 29.7 35.0 155.2 $556,380 3.3% $556,842 260.1 4.4 19.8 28.7 152.1 $790,046 3.6% $829,715 281.9 4.8 38.6 26.9 170.3 $399,686 0.6% $402,652 260.0 2.7 16.8 21.3 153.2 $367,819 1.3% $368,885 274.9 4.4 17.6 25.6 171.3 $298,143 2.1% $295,617 254.2 3.9 12.9 16.9 139.9 $355,624 5.7% $384,714 231.6 1.4 -0.3 19.4 148.5 $237,450 3.2% $237,166 252.1 0.7 2.7 2.9 127.4 $304,567 2.1% $305,546 247.4 2.7 15.6 20.8 144.3 $380,075 2.2% $380,775 241.8 -0.9 14.4 11.8 144.5 $246,966 2.7% $247,910 289.3 0.2 8.2 11.3 185.4 $308,311 3.0% $309,513 263.1 4.0 13.8 10.0 173.6 $353,285 1.5% $355,988 287.1 3.8 19.8 30.5 181.3 $341,419 2.0% $339,454 279.5 6.3 14.2 24.0 164.9 $511,412 1.2% $518,476 260.1 1.7 19.3 21.6 148.6 $692,659 9.8% $703,176 248.5 6.2 28.6 23.6 140.3
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.
Nov 2011 Jul 2011 Mar 2011 Nov 2010 Jul 2010 Mar 2010
Mar 2009 Apartment
Nov 2008 Jul 2008 Mar 2008 Nov 2007 Jul 2007
Attached
Mar 2007 Nov 2006 Jul 2006 Mar 2006 Nov 2005
Detached
Jul 2005 Mar 2005 Nov 2004 Jul 2004 Mar 2004 Nov 2003 Jul 2003 Nov 2002 Jul 2002 Mar 2002 80
100
120
140
160
180
200
220
240
Nov 2001 260
Year 2001 average = 100
Mar 2003
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Jul 2009
Price Index
Price Index - Greater Vancouver 10 Year Trend
Nov 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
$778,000
$474,500
$345,000
Apartment
732
Attached
Attached
1,004
Detached
Detached
$355,000
Apartment
1,660
$490,000
Apartment
$898,500
821
Attached
Attached
1,217
Detached
Detached
$347,500
Apartment
1,723
$457,400
Apartment
$805,000
Attached
60
Attached
Detached
93
Detached
140
$348,650
Apartment
$463,900
Apartment
61
Attached
Attached
93
Detached
$910,000
$355,000
Apartment
Detached
$470,000
Attached
122
$895,000
Detached
Apartment
120
82
Attached
Apartment
84
Detached
89
Coquit lam $275,000
$459,900
$651,001
640
367
978
$292,500
$455,500
$708,150
670
502
1,255
$260,000
$366,450
$612,500
53
34
83
$314,900
$509,775
$730,000
57
30
85
$319,000
$533,000
$700,000
55
32
Delta South $327,000
$419,000
$634,000
169
83
448
$335,500
$443,000
$660,000
140
80
574
$343,750
n/a
$612,500
20
4
40
n/a
n/a
$725,000
13
6
35
n/a
n/a
$650,000
8
5
26
Islands - Gulf n/a
n/a
$417,000
0
0
31
n/a
n/a
$595,000
0
1
34
n/a
n/a
n/a
0
0
4
n/a
n/a
n/a
0
0
6
n/a
n/a
n/a
0
0
2
$232,000
$304,900
$484,900
240
409
1,039
$215,500
$304,706
$481,759
276
464
1,076
n/a
$295,000
$470,000
16
33
83
n/a
$289,649
$477,500
18
36
85
$248,250
$291,298
$470,900
38
40 63
9
20
$290,000
$413,000
$590,000
789
89
300
$301,500
$410,750
$630,000
824
126
323
$296,000
n/a
$575,000
68
5
34
$303,000
n/a
$658,500
67
7
29
$301,000
n/a
$712,000
Maple R id g e/Pitt M eadow s 93
$375,000
$585,000
$871,500
816
333
895
$365,000
$639,000
$923,500
833
369
1,138
$382,000
$564,500
$840,000
72
22
83
$382,250
$670,000
$912,000
86
25
92
$349,858
$671,200
$962,000
80
45
76
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. Nov. 2010
Year-to-date
Jan. Nov. 2011
November 2010
October 2011
November 2011
Number of Sales
November 2011
2011
Port C oquitla m $235,000
$374,400
$526,500
296
235
399
$237,250
$390,000
$545,000
276
221
437
$216,000
$349,950
$523,000
24
22
34
$229,500
n/a
$540,556
24
19
35
$220,000
n/a
$583,000
23
17
39
Port M oody/B elcarra $345,000
$450,000
$761,000
280
188
213
$335,000
$432,500
$792,500
261
228
220
$351,000
n/a
n/a
30
13
17
$345,000
$479,750
n/a
21
26
18
$322,500
$426,000
n/a
23
27
18
Richm ond $335,000
$493,400
$835,200
1,727
1,061
1,596
$351,000
$545,000
$992,500
1,467
972
1,645
$342,200
$496,500
$830,500
150
81
160
$343,000
$549,900
$999,999
94
63
106
$336,500
$530,000
$948,500
95
76
101
$259,700
$375,000
$488,000
62
99
161
$232,500
$355,000
$485,000
34
83
176
n/a
n/a
n/a
7
5
15
n/a
n/a
n/a
1
6
16
n/a
n/a
$536,000
3
6
20
Squam ish
18
$227,000
$277,000
$412,500
43
58
473
$304,000
$272,750
$395,000
51
40
428
n/a
n/a
$412,500
3
6
34
n/a
n/a
$427,500
5
0
32
n/a
n/a
$369,250
1
3
34
Sunsh ine Co ast
11
y
Burnab
er New W estmin st
Vanco uver E ast $325,750
$563,000
$743,000
1,136
422
1,543
$342,700
$600,000
$825,000
1,105
396
1,724
$321,400
$615,777
$743,000
92
39
133
$342,900
$608,000
$837,500
99
37
126
$320,000
$585,000
$851,000
101
30
112
Vanco uver W est $463,000
$771,779
$1,682,500
4,187
654
1,651
$485,000
$865,000
$2,075,000
4,159
702
1,924
$443,000
$695,000
$1,800,000
352
56
161
$475,000
$975,000
$2,220,000
327
45
120
$465,000
$778,500
$2,155,500
360
48
121
$670,000
$1,015,000
$1,485,000
158
77
665
$732,500
$1,119,500
$1,795,000
198
60
1,125
n/a
n/a
$1,455,000
17
11
69
n/a
n/a
$1,800,000
13
4
90
n/a
n/a
$1,822,500
14
8
66
94
154
103
n/a
n/a
n/a
8
16
7
n/a
n/a
n/a
11
17
6
n/a
n/a
n/a
16
16
15
$295,000
$530,000
$829,500
73
131
86
$238,000
$567,500
$855,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
12,276
4,938
11,482
n/a
12,111
5,219
13,399
n/a
1,052
407
1,050
n/a
958
382
974
n/a
1,000
444
916
% 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%
57%
53%
Apartment
1,281
Attached
Attached
1,914
Detached
Detached
56%
Apartment
3,151
60%
Apartment
61%
1,361
Attached
Attached
2,009
Detached
Detached
81%
Apartment
3,055
80%
Apartment
90%
75
Attached
Attached
103
Detached
Detached
55%
Apartment
173
66%
Apartment
66%
Attached
Attached
93
Detached
Detached
140
Apartment
223
65%
Attached
Apartment
82%
103%
Detached
184
80
Attached
Apartment
103
Detached
Coquit lam 45%
51%
49%
1,425
725
1,977
46%
61%
59%
1,463
824
2,133
77%
63%
97%
69
54
86
43%
47%
51%
134
64
167
56%
67%
72%
99
48
124
Delta South 65%
59%
55%
262
141
808
57%
64%
69%
244
125
835
143%
57%
98%
14
7
41
59%
100%
95%
22
6
37
57%
100%
100%
14
5
26
Islands - Gulf 0%
0%
18%
3
19
173
0%
25%
22%
10
4
154
n/a
n/a
67%
0
0
6
n/a
0%
75%
0
3
8
n/a
0%
25%
0
1
8
37%
54%
47%
649
762
2,197
43%
63%
49%
640
731
2,204
43%
87%
69%
37
38
121
42%
64%
42%
43
56
202
51%
111%
74%
75
36
125
Maple R id g e/Pitt M eadow s 50%
77%
58%
1,563
116
521
55%
63%
69%
1,491
200
466
69%
125%
110%
98
4
31
58%
54%
76%
116
13
38
82%
113%
87%
77
8
23
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Nov. 2010
Year-to-date*
Jan. Nov. 2011
November 2010
October 2011
November 2011
Number of Listings
November 2011
2011
North Vanco uver 48%
54%
53%
1,702
622
1,675
50%
63%
64%
1,663
585
1,767
55%
71%
117%
130
31
71
61%
48%
79%
140
52
116
90%
188%
103%
89
24
74
Port C oquitla m 45%
56%
52%
656
423
768
40%
58%
63%
685
378
690
52%
59%
81%
46
37
42
32%
54%
67%
75
35
52
92%
65%
103%
25
26
38
Port M oody/B elcarra 42%
52%
47%
673
360
456
44%
58%
48%
593
395
455
71%
59%
85%
42
22
20
49%
130%
55%
43
20
33
70%
123%
62%
33
22
29
Richm ond 56%
64%
58%
3,084
1,659
2,756
49%
52%
46%
3,008
1,869
3,603
97%
83%
113%
154
98
141
47%
45%
49%
199
140
216
53%
73%
65%
178
104
155
Squam ish 34%
44%
38%
181
224
420
14%
42%
39%
235
198
447
54%
63%
68%
13
8
22
4%
50%
42%
26
12
38
43%
32%
77%
7
19
26
46%
51%
38%
93
114
1,231
30%
45%
37%
169
88
1,162
100%
100%
77%
3
6
44
125%
0%
46%
4
8
69
17%
150%
58%
6
2
59
Sunsh ine Co ast
18
55%
58%
55%
2,068
725
2,795
54%
61%
61%
2,033
651
2,824
77%
95%
94%
119
41
142
58%
79%
63%
170
47
199
88%
70%
74%
115
43
152
Vanco uver E ast
11
y
Burnab
er New W estmin st
Vanco uver W est 49%
48%
56%
8,569
1,376
2,924
51%
53%
55%
8,084
1,314
3,500
79%
76%
118%
443
74
137
52%
48%
41%
631
94
296
73%
54%
74%
496
89
164
Sound 43%
53%
44%
371
146
1,502
55%
52%
58%
360
115
1,940
61%
110%
87%
28
10
79
65%
27%
60%
20
15
149
78%
200%
71%
18
4
93
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
21%
35%
26%
346
373
331
24%
34%
33%
386
450
314
31%
73%
32%
26
22
22
31%
45%
23%
36
38
26
47%
47%
54%
34
34
28
Whistl er/Pem berton n/a
24,796
9,066
22,448
n/a
24,119
9,288
24,503
n/a
1,395
527
1,108
n/a
1,882
696
1,786
n/a
1,450
545
1,227
Listing & Sales Activity Summary Listings
Sales
1 Nov 2010
2 Oct 2011
3 Nov 2011
5 Nov 2010
6 Oct 2011
7 Nov 2011
103 75 173
140 93 223
103 80 184
-26.4 -14.0 -17.5
93 60 140
93 61 122
84 82 120
-9.7 34.4 -1.6
242 156 398
251 192 379
3.7 23.1 -4.8
86 54 69
167 64 134
124 48 99
-25.7 -25.0 -26.1
83 34 53
85 30 57
89 32 55
4.7 6.7 -3.5
260 82 160
280 79 167
7.7 -3.7 4.4
41 7 14
37 6 22
26 5 14
-29.7 -16.7 -36.4
40 4 20
35 6 13
26 5 8
-25.7 -16.7 -38.5
109 21 50
93 18 31
-14.7 -14.3 -38.0
121 38 37
202 56 43
125 36 75
-38.1 -35.7 74.4
83 33 16
85 36 18
93 40 38
9.4 11.1 111.1
236 106 52
255 106 78
8.1 0.0 50.0
71 31 130
116 52 140
74 24 89
-36.2 -53.8 -36.4
83 22 72
92 25 86
76 45 80
-17.4 80.0 -7.0
222 64 224
247 105 214
11.3 64.1 -4.5
31 4 98
38 13 116
23 8 77
-39.5 -38.5 -33.6
34 5 68
29 7 67
20 9 63
-31.0 28.6 -6.0
89 18 186
78 25 198
-12.4 38.9 6.5
20 22 42
33 20 43
29 22 33
-12.1 10.0 -23.3
17 13 30
18 26 21
18 27 23
0.0 3.8 9.5
48 36 75
51 67 66
6.3 86.1 -12.0
42 37 46
52 35 75
38 26 25
-26.9 -25.7 -66.7
34 22 24
35 19 24
39 17 23
11.4 -10.5 -4.2
82 64 59
109 60 72
32.9 -6.3 22.0
141 98 154
216 140 199
155 104 178
-28.2 -25.7 -10.6
160 81 150
106 63 94
101 76 95
-4.7 20.6 1.1
403 250 431
316 202 293
-21.6 -19.2 -32.0
44 6 3
69 8 4
59 2 6
-14.5 -75.0 50.0
34 6 3
32 0 5
34 3 1
6.3 300.0 -80.0
117 18 8
112 9 12
-4.3 -50.0 50.0
22 8 13
38 12 26
26 19 7
-31.6 58.3 -73.1
15 5 7
16 6 1
20 6 3
25.0 0.0 200.0
36 21 12
53 18 5
47.2 -14.3 -58.3
142 41 119
199 47 170
152 43 115
-23.6 -8.5 -32.4
133 39 92
126 37 99
112 30 101
-11.1 -18.9 2.0
365 111 264
379 99 282
3.8 -10.8 6.8
137 74 443
296 94 631
164 89 496
-44.6 -5.3 -21.4
161 56 352
120 45 327
121 48 360
0.8 6.7 10.1
465 155 1014
345 145 1004
-25.8 -6.5 -1.0
22 22 26
26 38 36
28 34 34
7.7 -10.5 -5.6
7 16 8
6 17 11
15 16 16
150.0 -5.9 45.5
24 42 26
37 53 41
54.2 26.2 57.7
79 10 28
149 15 20
93 4 18
-37.6 -73.3 -10.0
69 11 17
90 4 13
66 8 14
-26.7 100.0 7.7
184 23 48
227 15 38
23.4 -34.8 -20.8
1102 527 1395
1778 693 1882
1219 544 1450
-31.4 -21.5 -23.0
1046 407 1052
968 382 958
914 444 1000
-5.6 16.2 4.4
2882 1167 3007
2833 1193 2880
-1.7 2.2 -4.2
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Sep 2010 Nov 2010
10 Sep 2011 Nov 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
$431,808
$565,168
$1,134,936
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to November 2011
Historically normal activity keeps the Greater Vancouver housing market in a balanced state VANCOUVER, B.C. – December 2, 2011 – The Greater Vancouver housing market saw relatively typical home sale and listing activity in November. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011. Looking back further, last month’s residential sales total is 5.8 per cent below the ten-year average for sales in November. “The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year,” Rosario Setticasi, REBGV president said. “November activity helped put our market firmly in balanced territory.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,222 in November. This represents a 26.3 per cent decline compared to the 4,374 new listings reported in October 2011, but a 6.3 per cent increase compared to November 2010 when 3,030 properties were listed for sale on the MLS®. Looking back further, last month’s new listing total is 2.1 per cent above the ten-year average for November. The total number of properties currently listed for sale on the Greater Vancouver MLS® sits at 14,090, a decline of 9 per cent compared to October 2011 but an increase of 13 per cent when compared to this time last year. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.2 per cent to $622,087 in November 2011 from $580,080 in November 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.4 per cent. Sales of detached properties on the MLS® in November 2011 reached 916, a decrease of 12.8 per cent from the 1,050 detached sales recorded in November 2010, and a 21.3 per cent decrease from the 1,164 units sold in November 2009. The benchmark price for detached properties increased 11.4 per cent from November 2010 to $890,204. Sales of apartment properties reached 1,000 in November 2011, a 4.9 per cent decrease compared to the 1,052 sales in November 2010, and a decrease of 28.4 per cent compared to the 1,396 sales in November 2009. The benchmark price of an apartment property increased 2.7 per cent from November 2010 to $399,686. Attached property sales in November 2011 totalled 444, a 9.1 per cent increase compared to the 407 sales in November 2010, and a 15.1 per cent decrease from the 523 attached properties sold in November 2009. The benchmark price of an attached unit increased 4.5 per cent between November 2010 and 2011 to $510,960. -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
November 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 10 YEAR PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE CHANGE (+/-) PRICE % % % % $622,087 0.7% $624,345 262.7 7.2 25.5 29.6 158.4 $890,204 1.4% $890,561 262.9 11.4 33.6 37.5 160.8 $911,365 2.6% $919,411 268.3 14.9 39.2 41.9 166.3 $689,527 6.2% $708,098 242.6 1.1 12.0 18.2 139.5 $686,430 4.9% $718,209 224.3 11.2 21.0 19.8 117.2 $448,315 3.4% $448,564 204.5 1.9 6.4 6.3 97.5 $683,503 4.2% $659,143 281.7 13.5 26.7 33.0 188.0 $985,731 2.9% $970,670 246.2 11.0 31.7 26.3 142.9 $520,416 9.0% $523,738 213.6 -0.6 7.5 21.5 111.0 $581,502 5.1% $554,671 245.8 5.2 12.9 21.4 139.7 $751,345 15.4% $768,754 225.9 4.4 29.8 17.4 128.8 $1,061,256 2.7% $1,071,538 313.3 15.3 56.1 66.6 215.9 $530,896 10.8% $492,615 201.7 10.6 -9.6 19.7 91.6 $374,502 7.1% $399,287 213.1 -6.7 -11.2 -2.7 103.7 $863,183 2.4% $853,701 292.4 15.9 42.6 46.3 189.6 $2,019,926 2.7% $2,019,783 335.2 18.9 81.0 81.5 238.5 $1,759,616 4.2% $1,723,444 259.2 23.9 37.1 46.4 153.6 $510,960 0.9% $515,704 247.8 4.5 19.9 24.6 141.7 $502,422 1.5% $501,251 251.7 2.4 17.2 26.4 145.0 $460,110 3.1% $467,839 248.2 12.5 16.5 22.0 145.5 $479,920 7.0% $483,405 257.0 1.4 7.3 24.9 168.2 $302,655 2.5% $308,928 209.9 -1.1 0.2 6.3 109.9 $645,539 2.5% $641,032 252.6 11.1 18.3 25.8 148.8 $410,259 3.2% $409,273 225.6 6.8 16.8 18.7 123.7 $414,007 3.8% $406,585 247.1 2.0 8.6 18.7 141.0 $542,648 1.6% $544,884 261.7 3.5 29.7 35.0 155.2 $556,380 3.3% $556,842 260.1 4.4 19.8 28.7 152.1 $790,046 3.6% $829,715 281.9 4.8 38.6 26.9 170.3 $399,686 0.6% $402,652 260.0 2.7 16.8 21.3 153.2 $367,819 1.3% $368,885 274.9 4.4 17.6 25.6 171.3 $298,143 2.1% $295,617 254.2 3.9 12.9 16.9 139.9 $355,624 5.7% $384,714 231.6 1.4 -0.3 19.4 148.5 $237,450 3.2% $237,166 252.1 0.7 2.7 2.9 127.4 $304,567 2.1% $305,546 247.4 2.7 15.6 20.8 144.3 $380,075 2.2% $380,775 241.8 -0.9 14.4 11.8 144.5 $246,966 2.7% $247,910 289.3 0.2 8.2 11.3 185.4 $308,311 3.0% $309,513 263.1 4.0 13.8 10.0 173.6 $353,285 1.5% $355,988 287.1 3.8 19.8 30.5 181.3 $341,419 2.0% $339,454 279.5 6.3 14.2 24.0 164.9 $511,412 1.2% $518,476 260.1 1.7 19.3 21.6 148.6 $692,659 9.8% $703,176 248.5 6.2 28.6 23.6 140.3
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.
Nov 2011 Jul 2011 Mar 2011 Nov 2010 Jul 2010 Mar 2010
Mar 2009 Apartment
Nov 2008 Jul 2008 Mar 2008 Nov 2007 Jul 2007
Attached
Mar 2007 Nov 2006 Jul 2006 Mar 2006 Nov 2005
Detached
Jul 2005 Mar 2005 Nov 2004 Jul 2004 Mar 2004 Nov 2003 Jul 2003 Nov 2002 Jul 2002 Mar 2002 80
100
120
140
160
180
200
220
240
Nov 2001 260
Year 2001 average = 100
Mar 2003
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
Jul 2009
Price Index
Price Index - Greater Vancouver 10 Year Trend
Nov 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
$778,000
$474,500
$345,000
Apartment
732
Attached
Attached
1,004
Detached
Detached
$355,000
Apartment
1,660
$490,000
Apartment
$898,500
821
Attached
Attached
1,217
Detached
Detached
$347,500
Apartment
1,723
$457,400
Apartment
$805,000
Attached
60
Attached
Detached
93
Detached
140
$348,650
Apartment
$463,900
Apartment
61
Attached
Attached
93
Detached
$910,000
$355,000
Apartment
Detached
$470,000
Attached
122
$895,000
Detached
Apartment
120
82
Attached
Apartment
84
Detached
89
Coquit lam $275,000
$459,900
$651,001
640
367
978
$292,500
$455,500
$708,150
670
502
1,255
$260,000
$366,450
$612,500
53
34
83
$314,900
$509,775
$730,000
57
30
85
$319,000
$533,000
$700,000
55
32
Delta South $327,000
$419,000
$634,000
169
83
448
$335,500
$443,000
$660,000
140
80
574
$343,750
n/a
$612,500
20
4
40
n/a
n/a
$725,000
13
6
35
n/a
n/a
$650,000
8
5
26
Islands - Gulf n/a
n/a
$417,000
0
0
31
n/a
n/a
$595,000
0
1
34
n/a
n/a
n/a
0
0
4
n/a
n/a
n/a
0
0
6
n/a
n/a
n/a
0
0
2
$232,000
$304,900
$484,900
240
409
1,039
$215,500
$304,706
$481,759
276
464
1,076
n/a
$295,000
$470,000
16
33
83
n/a
$289,649
$477,500
18
36
85
$248,250
$291,298
$470,900
38
40 63
9
20
$290,000
$413,000
$590,000
789
89
300
$301,500
$410,750
$630,000
824
126
323
$296,000
n/a
$575,000
68
5
34
$303,000
n/a
$658,500
67
7
29
$301,000
n/a
$712,000
Maple R id g e/Pitt M eadow s 93
$375,000
$585,000
$871,500
816
333
895
$365,000
$639,000
$923,500
833
369
1,138
$382,000
$564,500
$840,000
72
22
83
$382,250
$670,000
$912,000
86
25
92
$349,858
$671,200
$962,000
80
45
76
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. Nov. 2010
Year-to-date
Jan. Nov. 2011
November 2010
October 2011
November 2011
Number of Sales
November 2011
2011
Port C oquitla m $235,000
$374,400
$526,500
296
235
399
$237,250
$390,000
$545,000
276
221
437
$216,000
$349,950
$523,000
24
22
34
$229,500
n/a
$540,556
24
19
35
$220,000
n/a
$583,000
23
17
39
Port M oody/B elcarra $345,000
$450,000
$761,000
280
188
213
$335,000
$432,500
$792,500
261
228
220
$351,000
n/a
n/a
30
13
17
$345,000
$479,750
n/a
21
26
18
$322,500
$426,000
n/a
23
27
18
Richm ond $335,000
$493,400
$835,200
1,727
1,061
1,596
$351,000
$545,000
$992,500
1,467
972
1,645
$342,200
$496,500
$830,500
150
81
160
$343,000
$549,900
$999,999
94
63
106
$336,500
$530,000
$948,500
95
76
101
$259,700
$375,000
$488,000
62
99
161
$232,500
$355,000
$485,000
34
83
176
n/a
n/a
n/a
7
5
15
n/a
n/a
n/a
1
6
16
n/a
n/a
$536,000
3
6
20
Squam ish
18
$227,000
$277,000
$412,500
43
58
473
$304,000
$272,750
$395,000
51
40
428
n/a
n/a
$412,500
3
6
34
n/a
n/a
$427,500
5
0
32
n/a
n/a
$369,250
1
3
34
Sunsh ine Co ast
11
y
Burnab
er New W estmin st
Vanco uver E ast $325,750
$563,000
$743,000
1,136
422
1,543
$342,700
$600,000
$825,000
1,105
396
1,724
$321,400
$615,777
$743,000
92
39
133
$342,900
$608,000
$837,500
99
37
126
$320,000
$585,000
$851,000
101
30
112
Vanco uver W est $463,000
$771,779
$1,682,500
4,187
654
1,651
$485,000
$865,000
$2,075,000
4,159
702
1,924
$443,000
$695,000
$1,800,000
352
56
161
$475,000
$975,000
$2,220,000
327
45
120
$465,000
$778,500
$2,155,500
360
48
121
$670,000
$1,015,000
$1,485,000
158
77
665
$732,500
$1,119,500
$1,795,000
198
60
1,125
n/a
n/a
$1,455,000
17
11
69
n/a
n/a
$1,800,000
13
4
90
n/a
n/a
$1,822,500
14
8
66
94
154
103
n/a
n/a
n/a
8
16
7
n/a
n/a
n/a
11
17
6
n/a
n/a
n/a
16
16
15
$295,000
$530,000
$829,500
73
131
86
$238,000
$567,500
$855,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
12,276
4,938
11,482
n/a
12,111
5,219
13,399
n/a
1,052
407
1,050
n/a
958
382
974
n/a
1,000
444
916
% 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%
57%
53%
Apartment
1,281
Attached
Attached
1,914
Detached
Detached
56%
Apartment
3,151
60%
Apartment
61%
1,361
Attached
Attached
2,009
Detached
Detached
81%
Apartment
3,055
80%
Apartment
90%
75
Attached
Attached
103
Detached
Detached
55%
Apartment
173
66%
Apartment
66%
Attached
Attached
93
Detached
Detached
140
Apartment
223
65%
Attached
Apartment
82%
103%
Detached
184
80
Attached
Apartment
103
Detached
Coquit lam 45%
51%
49%
1,425
725
1,977
46%
61%
59%
1,463
824
2,133
77%
63%
97%
69
54
86
43%
47%
51%
134
64
167
56%
67%
72%
99
48
124
Delta South 65%
59%
55%
262
141
808
57%
64%
69%
244
125
835
143%
57%
98%
14
7
41
59%
100%
95%
22
6
37
57%
100%
100%
14
5
26
Islands - Gulf 0%
0%
18%
3
19
173
0%
25%
22%
10
4
154
n/a
n/a
67%
0
0
6
n/a
0%
75%
0
3
8
n/a
0%
25%
0
1
8
37%
54%
47%
649
762
2,197
43%
63%
49%
640
731
2,204
43%
87%
69%
37
38
121
42%
64%
42%
43
56
202
51%
111%
74%
75
36
125
Maple R id g e/Pitt M eadow s 50%
77%
58%
1,563
116
521
55%
63%
69%
1,491
200
466
69%
125%
110%
98
4
31
58%
54%
76%
116
13
38
82%
113%
87%
77
8
23
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Nov. 2010
Year-to-date*
Jan. Nov. 2011
November 2010
October 2011
November 2011
Number of Listings
November 2011
2011
North Vanco uver 48%
54%
53%
1,702
622
1,675
50%
63%
64%
1,663
585
1,767
55%
71%
117%
130
31
71
61%
48%
79%
140
52
116
90%
188%
103%
89
24
74
Port C oquitla m 45%
56%
52%
656
423
768
40%
58%
63%
685
378
690
52%
59%
81%
46
37
42
32%
54%
67%
75
35
52
92%
65%
103%
25
26
38
Port M oody/B elcarra 42%
52%
47%
673
360
456
44%
58%
48%
593
395
455
71%
59%
85%
42
22
20
49%
130%
55%
43
20
33
70%
123%
62%
33
22
29
Richm ond 56%
64%
58%
3,084
1,659
2,756
49%
52%
46%
3,008
1,869
3,603
97%
83%
113%
154
98
141
47%
45%
49%
199
140
216
53%
73%
65%
178
104
155
Squam ish 34%
44%
38%
181
224
420
14%
42%
39%
235
198
447
54%
63%
68%
13
8
22
4%
50%
42%
26
12
38
43%
32%
77%
7
19
26
46%
51%
38%
93
114
1,231
30%
45%
37%
169
88
1,162
100%
100%
77%
3
6
44
125%
0%
46%
4
8
69
17%
150%
58%
6
2
59
Sunsh ine Co ast
18
55%
58%
55%
2,068
725
2,795
54%
61%
61%
2,033
651
2,824
77%
95%
94%
119
41
142
58%
79%
63%
170
47
199
88%
70%
74%
115
43
152
Vanco uver E ast
11
y
Burnab
er New W estmin st
Vanco uver W est 49%
48%
56%
8,569
1,376
2,924
51%
53%
55%
8,084
1,314
3,500
79%
76%
118%
443
74
137
52%
48%
41%
631
94
296
73%
54%
74%
496
89
164
Sound 43%
53%
44%
371
146
1,502
55%
52%
58%
360
115
1,940
61%
110%
87%
28
10
79
65%
27%
60%
20
15
149
78%
200%
71%
18
4
93
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
21%
35%
26%
346
373
331
24%
34%
33%
386
450
314
31%
73%
32%
26
22
22
31%
45%
23%
36
38
26
47%
47%
54%
34
34
28
Whistl er/Pem berton n/a
24,796
9,066
22,448
n/a
24,119
9,288
24,503
n/a
1,395
527
1,108
n/a
1,882
696
1,786
n/a
1,450
545
1,227
Listing & Sales Activity Summary Listings
Sales
1 Nov 2010
2 Oct 2011
3 Nov 2011
5 Nov 2010
6 Oct 2011
7 Nov 2011
103 75 173
140 93 223
103 80 184
-26.4 -14.0 -17.5
93 60 140
93 61 122
84 82 120
-9.7 34.4 -1.6
242 156 398
251 192 379
3.7 23.1 -4.8
86 54 69
167 64 134
124 48 99
-25.7 -25.0 -26.1
83 34 53
85 30 57
89 32 55
4.7 6.7 -3.5
260 82 160
280 79 167
7.7 -3.7 4.4
41 7 14
37 6 22
26 5 14
-29.7 -16.7 -36.4
40 4 20
35 6 13
26 5 8
-25.7 -16.7 -38.5
109 21 50
93 18 31
-14.7 -14.3 -38.0
121 38 37
202 56 43
125 36 75
-38.1 -35.7 74.4
83 33 16
85 36 18
93 40 38
9.4 11.1 111.1
236 106 52
255 106 78
8.1 0.0 50.0
71 31 130
116 52 140
74 24 89
-36.2 -53.8 -36.4
83 22 72
92 25 86
76 45 80
-17.4 80.0 -7.0
222 64 224
247 105 214
11.3 64.1 -4.5
31 4 98
38 13 116
23 8 77
-39.5 -38.5 -33.6
34 5 68
29 7 67
20 9 63
-31.0 28.6 -6.0
89 18 186
78 25 198
-12.4 38.9 6.5
20 22 42
33 20 43
29 22 33
-12.1 10.0 -23.3
17 13 30
18 26 21
18 27 23
0.0 3.8 9.5
48 36 75
51 67 66
6.3 86.1 -12.0
42 37 46
52 35 75
38 26 25
-26.9 -25.7 -66.7
34 22 24
35 19 24
39 17 23
11.4 -10.5 -4.2
82 64 59
109 60 72
32.9 -6.3 22.0
141 98 154
216 140 199
155 104 178
-28.2 -25.7 -10.6
160 81 150
106 63 94
101 76 95
-4.7 20.6 1.1
403 250 431
316 202 293
-21.6 -19.2 -32.0
44 6 3
69 8 4
59 2 6
-14.5 -75.0 50.0
34 6 3
32 0 5
34 3 1
6.3 300.0 -80.0
117 18 8
112 9 12
-4.3 -50.0 50.0
22 8 13
38 12 26
26 19 7
-31.6 58.3 -73.1
15 5 7
16 6 1
20 6 3
25.0 0.0 200.0
36 21 12
53 18 5
47.2 -14.3 -58.3
142 41 119
199 47 170
152 43 115
-23.6 -8.5 -32.4
133 39 92
126 37 99
112 30 101
-11.1 -18.9 2.0
365 111 264
379 99 282
3.8 -10.8 6.8
137 74 443
296 94 631
164 89 496
-44.6 -5.3 -21.4
161 56 352
120 45 327
121 48 360
0.8 6.7 10.1
465 155 1014
345 145 1004
-25.8 -6.5 -1.0
22 22 26
26 38 36
28 34 34
7.7 -10.5 -5.6
7 16 8
6 17 11
15 16 16
150.0 -5.9 45.5
24 42 26
37 53 41
54.2 26.2 57.7
79 10 28
149 15 20
93 4 18
-37.6 -73.3 -10.0
69 11 17
90 4 13
66 8 14
-26.7 100.0 7.7
184 23 48
227 15 38
23.4 -34.8 -20.8
1102 527 1395
1778 693 1882
1219 544 1450
-31.4 -21.5 -23.0
1046 407 1052
968 382 958
914 444 1000
-5.6 16.2 4.4
2882 1167 3007
2833 1193 2880
-1.7 2.2 -4.2
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Sep 2010 Nov 2010
10 Sep 2011 Nov 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
$431,808
$565,168
$1,134,936
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to November 2011
