Stats Package for September 2011 from REBGV
News Release FOR IMMEDIATE RELEASE
Home listings continue to rise in the Greater Vancouver housing market VANCOUVER, B.C. – October 4, 2011 – Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market. 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 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years. “There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said."Buyers now have more properties to choose from and more time to make decisions compared to the spring season.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011. The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year. “Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time,” Setticasi said. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent. Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701. Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569. Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697. -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
September 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 % % % % $627,994 0.6% $627,941 265.2 8.8 16.6 29.0 162.3 $896,701 1.3% $894,610 264.8 13.4 23.5 36.0 161.8 $949,389 2.6% $932,698 279.4 23.1 31.4 43.7 177.9 $725,525 5.7% $725,361 255.2 3.2 6.8 22.4 147.0 $733,611 4.9% $740,157 239.7 11.2 17.0 27.3 138.6 $452,516 3.4% $453,239 206.4 0.5 1.0 9.7 106.2 $636,167 4.0% $633,901 262.2 9.7 19.3 24.4 170.5 $973,469 2.7% $961,019 243.2 11.1 19.4 27.6 138.6 $516,971 9.0% $536,691 212.2 -5.2 10.7 17.3 111.9 $561,750 5.4% $567,876 237.4 8.2 3.8 17.8 138.7 $803,474 14.7% $757,709 241.5 7.7 29.6 37.1 133.4 $1,077,967 2.7% $1,081,451 318.3 21.8 42.9 65.8 210.2 $473,104 12.0% $494,191 179.7 -1.8 -10.5 -0.5 60.8 $412,952 5.7% $416,061 234.9 -0.7 -4.4 7.8 140.9 $841,509 2.1% $839,830 285.0 15.7 29.3 36.9 182.2 $2,030,720 2.9% $2,012,830 337.0 24.5 54.4 75.6 230.6 $1,716,247 4.3% $1,735,533 252.8 18.9 22.0 32.1 155.8 $516,697 1.0% $517,680 250.6 5.4 11.2 25.4 151.0 $501,257 1.7% $510,355 251.1 3.4 9.5 26.2 157.7 $473,694 3.6% $465,085 255.5 8.1 13.9 27.0 147.8 $483,803 6.3% $478,372 259.1 4.6 10.9 21.1 153.2 $317,468 2.6% $315,235 220.2 5.8 1.5 12.3 125.2 $617,579 2.8% $637,987 241.7 0.4 10.4 18.6 143.2 $407,505 2.9% $412,477 224.1 3.9 2.2 16.2 116.1 $402,565 4.7% $400,033 240.2 4.8 4.1 11.9 141.6 $543,914 1.8% $550,421 262.3 4.8 18.3 36.1 157.8 $558,693 3.3% $558,436 261.2 8.2 5.1 27.6 169.9 $841,990 3.4% $817,539 300.5 9.5 20.6 33.4 205.8 $405,569 0.6% $406,111 263.8 4.4 9.9 21.3 159.3 $370,244 1.3% $370,388 276.7 5.5 11.3 23.9 173.7 $289,924 2.2% $291,820 247.2 -0.9 2.9 11.3 140.9 $381,233 5.4% $377,452 248.3 7.9 8.3 22.9 142.5 $244,455 3.5% $245,598 259.6 4.4 -2.5 7.6 140.3 $307,288 2.2% $308,048 249.6 3.5 8.8 19.9 155.1 $377,261 2.7% $388,917 240.0 -1.6 -0.2 10.4 139.2 $254,705 2.4% $248,693 298.3 3.8 1.0 13.9 180.4 $312,337 3.0% $309,919 266.5 2.9 7.7 13.8 167.2 $355,992 1.5% $360,110 289.3 4.3 15.7 26.9 185.4 $341,572 2.2% $341,752 279.6 4.7 6.9 25.8 169.9 $526,026 1.2% $522,951 267.6 5.8 13.0 23.2 158.3 $733,981 9.7% $731,844 263.4 15.8 21.2 22.1 168.6
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.
Sep 2011 May 2011 Jan 2011 Sep 2010 May 2010 Jan 2010
Jan 2009 Apartment
Sep 2008 May 2008 Jan 2008 Sep 2007 May 2007
Attached
Jan 2007 Sep 2006 May 2006 Jan 2006 Sep 2005
Detached
May 2005 Jan 2005 Sep 2004 May 2004 Jan 2004 Sep 2003 May 2003 Sep 2002 May 2002 Jan 2002 80
100
120
140
160
180
200
220
240
Sep 2001 260
Year 2001 average = 100
Jan 2003
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
May 2009
Price Index
Price Index - Greater Vancouver 10 Year Trend
Sep 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
$776,500
$475,000
$343,000
Apartment
620
Attached
Attached
837
Detached
Detached
$355,850
Apartment
1,388
$491,000
Apartment
$898,000
678
Attached
Attached
1,040
Detached
Detached
$346,750
Apartment
1,481
$500,000
Attached
Apartment
$752,000
44
Attached
Detached
75
Detached
126
$390,000
Apartment
$499,500
Apartment
66
Attached
Attached
96
Detached
$917,000
$350,000
Apartment
Detached
$495,000
Attached
169
$1,006,500
Detached
Apartment
137
49
Attached
Apartment
74
Detached
Coquit lam $279,650
$468,950
$659,900
531
310
801
$288,000
$450,000
$708,000
558
440
1,081
$284,250
$471,000
$636,500
51
25
83
$253,000
$437,000
$705,750
51
46
112
$270,500
n/a
$690,000
55
17
106
Delta South $327,000
$417,750
$635,000
131
72
374
$334,000
$447,000
$657,000
119
69
513
n/a
n/a
$642,000
12
10
35
n/a
n/a
$670,000
18
11
48
n/a
n/a
$676,000
10
7
32
Islands - Gulf n/a
n/a
$366,000
0
0
25
n/a
n/a
$620,500
0
1
26
n/a
n/a
n/a
0
0
4
n/a
n/a
n/a
0
0
2
n/a
n/a
n/a
0
0
6
$232,000
$305,000
$486,872
206
349
880
$214,410
$309,900
$485,000
220
388
898
n/a
$287,097
$484,900
18
46
77
$214,450
$290,000
$495,329
24
31
108
$215,975
$305,771
$488,000
22
30 68
9
29
$289,000
$421,500
$590,000
661
76
235
$301,000
$415,700
$620,000
694
110
274
$304,444
n/a
$590,000
58
5
24
$290,943
n/a
$619,900
66
6
23
$312,500
n/a
$635,000
Maple R id g e/Pitt M eadow s 77
$375,000
$595,000
$875,000
665
290
735
$365,000
$630,000
$920,500
667
299
970
$400,000
$550,000
$860,000
73
21
62
$355,000
$599,000
$880,000
63
23
73
$367,500
$649,000
$950,000
48
35
79
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. Sep. 2010
Year-to-date
Jan. Sep. 2011
September 2010
August 2011
September 2011
Number of Sales
September 2011 Port C oquitla m $237,000
$382,000
$526,500
254
188
340
$239,900
$385,000
$539,450
229
185
363
n/a
n/a
$495,000
17
17
23
$222,000
n/a
$526,000
23
15
26
$237,000
$407,000
$536,000
25
24
35
$345,000
$448,325
$765,500
229
162
176
$335,000
$419,000
$828,100
217
175
184
$342,500
n/a
n/a
24
10
11
n/a
$399,250
n/a
16
24
19
$329,000
n/a
n/a
22
14 104
63
109
$333,000
$492,500
$835,000
1,444
895
1,303
$353,000
$546,000
$995,250
1,278
833
1,438
$332,850
$530,600
$804,000
148
84
110
$347,150
$530,000
$1,020,000
96
69
95
$348,500
$559,000
$1,025,000
Port M oody/B elcarra 15
Richm ond
2011
$259,000
$375,000
$488,000
51
85
135
$230,500
$355,000
$485,000
30
71
140
n/a
n/a
n/a
1
7
10
n/a
n/a
n/a
4
10
13
n/a
n/a
n/a
1
6
17
Squam ish
18
$227,500
$277,000
$415,000
38
45
395
$305,000
$272,500
$394,000
45
37
362
n/a
n/a
$430,000
3
5
39
n/a
n/a
$399,000
2
2
39
n/a
n/a
$377,500
6
6
46
Sunsh ine Co ast
9
y
Burnab
er New W estmin st
Vanco uver E ast $327,250
$554,250
$743,000
962
350
1,286
$344,400
$600,000
$820,000
905
329
1,486
$335,000
$502,000
$750,000
90
39
108
$355,000
$558,500
$830,000
69
23
148
$340,000
$600,000
$885,000
82
32
141
Vanco uver W est $465,000
$788,000
$1,675,000
3,498
547
1,329
$488,000
$865,000
$2,060,000
3,472
609
1,683
$473,500
$850,000
$1,660,000
325
48
143
$508,250
$938,800
$2,199,000
337
57
130
$474,000
$900,000
$2,012,500
317
52
104
$683,500
$1,094,000
$1,488,000
126
59
537
$735,000
$1,107,000
$1,780,000
171
48
969
n/a
n/a
$1,587,500
16
5
56
n/a
n/a
$2,090,000
14
2
80
n/a
n/a
$1,830,000
11
3
71
n/a
14
20
16
$294,000
$516,500
$847,500
56
106
68
$242,000
$575,000
$837,500
67
121
82
n/a
n/a
n/a
9
17
6
n/a
n/a
n/a
3
18
8
n/a
$550,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
10,240
4,154
9,456
n/a
10,153
4,393
11,509
n/a
971
383
866
n/a
955
403
1,020
n/a
922
367
957
% 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
50%
55%
50%
Apartment
1,119
Attached
Attached
1,679
Detached
Detached
56%
Apartment
2,776
57%
Apartment
59%
1,188
Attached
Attached
1,766
Detached
Detached
45%
Apartment
2,648
49%
Apartment
44%
Attached
89
Attached
Detached
170
Detached
279
66%
Apartment
Apartment
53%
124
Attached
53%
182
Detached
Attached
49%
Apartment
Detached
35%
Attached
258
35%
Detached
Apartment
279
141
Attached
Apartment
214
Detached
Coquit lam 43%
49%
45%
1,245
629
1,776
45%
62%
59%
1,230
712
1,842
41%
45%
46%
124
56
182
45%
88%
61%
114
52
185
38%
21%
51%
144
80
207
Delta South 57%
56%
52%
229
128
716
57%
61%
66%
208
114
772
41%
83%
38%
29
12
91
75%
138%
75%
24
8
64
37%
44%
44%
27
16
73
Islands - Gulf 0%
0%
15%
3
19
163
0%
n/a
19%
10
0
138
n/a
n/a
44%
0
0
9
n/a
n/a
11%
0
0
18
n/a
n/a
50%
0
0
12
36%
53%
46%
565
656
1,925
42%
61%
48%
522
639
1,877
33%
51%
48%
55
90
161
44%
53%
53%
54
58
202
52%
59%
37%
42
51
207
Maple R id g e/Pitt M eadow s 48%
70%
52%
1,380
108
451
53%
61%
68%
1,298
179
405
39%
33%
42%
148
15
57
57%
43%
55%
116
14
42
48%
45%
73%
141
20
40
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Sep. 2010
Year-to-date*
Jan. Sep. 2011
September 2010
August 2011
September 2011
Number of Listings
September 2011
North Vanco uver 46%
53%
50%
1,455
545
1,479
47%
59%
62%
1,434
509
1,577
44%
30%
37%
167
70
168
63%
61%
67%
100
38
109
24%
51%
39%
196
69
204
Port C oquitla m 45%
51%
50%
564
368
677
39%
58%
61%
585
317
600
26%
50%
35%
66
34
65
35%
60%
46%
66
25
56
34%
65%
48%
74
37
73
Port M oody/B elcarra 39%
51%
44%
581
319
404
42%
50%
47%
517
353
393
43%
31%
31%
56
32
35
40%
48%
46%
40
50
41
32%
39%
32%
68
36
47
Richm ond 54%
61%
53%
2,692
1,460
2,440
49%
51%
44%
2,631
1,625
3,232
64%
79%
63%
233
106
174
39%
42%
38%
244
165
251
35%
42%
32%
299
149
339
31%
43%
36%
162
199
378
15%
43%
37%
202
167
383
6%
44%
28%
16
16
36
25%
71%
39%
16
14
33
5%
75%
49%
21
8
35
Squam ish
2011
44%
44%
35%
87
102
1,121
28%
47%
35%
159
78
1,034
100%
33%
51%
3
15
77
13%
50%
40%
15
4
97
19%
200%
56%
31
3
82
Sunsh ine Co ast
18
53%
56%
51%
1,800
630
2,514
52%
59%
60%
1,748
561
2,473
52%
57%
53%
173
69
205
41%
55%
52%
169
42
287
36%
39%
51%
227
83
277
Vanco uver E ast
9
y
Burnab
er New W estmin st
Vanco uver W est 46%
45%
51%
7,544
1,211
2,599
50%
54%
55%
6,957
1,131
3,040
45%
38%
54%
720
126
263
54%
51%
48%
627
112
270
40%
40%
27%
785
130
386
Sound 38%
46%
41%
329
127
1,321
53%
50%
57%
322
96
1,698
41%
29%
45%
39
17
124
50%
33%
56%
28
6
144
32%
25%
38%
34
12
189
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
19%
32%
24%
294
330
283
21%
32%
32%
316
378
260
47%
85%
30%
19
20
20
6%
58%
21%
52
31
38
45%
50%
76%
31
40
21
Whistl er/Pem berton n/a
21,706
7,950
19,926
n/a
20,787
8,047
21,490
n/a
2,127
767
1,837
n/a
1,923
743
2,019
n/a
2,399
875
2,406
Listing & Sales Activity Summary Listings
Sales
1 Sep 2010
2 Aug 2011
3 Sep 2011
5 Sep 2010
6 Aug 2011
7 Sep 2011
170 89 279
182 124 258
214 141 279
17.6 13.7 8.1
75 44 126
96 66 169
74 49 137
-22.9 -25.8 -18.9
235 157 396
265 187 471
12.8 19.1 18.9
182 56 124
185 52 114
207 80 144
11.9 53.8 26.3
83 25 51
112 46 51
106 17 55
-5.4 -63.0 7.8
219 76 152
318 109 168
45.2 43.4 10.5
91 12 29
64 8 24
73 16 27
14.1 100.0 12.5
35 10 12
48 11 18
32 7 10
-33.3 -36.4 -44.4
95 21 39
130 24 37
36.8 14.3 -5.1
161 90 55
202 58 54
207 51 42
2.5 -12.1 -22.2
77 46 18
108 31 24
77 30 22
-28.7 -3.2 -8.3
261 108 48
294 103 67
12.6 -4.6 39.6
168 70 167
109 38 100
204 69 196
87.2 81.6 96.0
62 21 73
73 23 63
79 35 48
8.2 52.2 -23.8
195 65 194
244 75 188
25.1 15.4 -3.1
57 15 148
42 14 116
40 20 141
-4.8 42.9 21.6
24 5 58
23 6 66
29 9 68
26.1 50.0 3.0
69 18 164
80 28 203
15.9 55.6 23.8
35 32 56
41 50 40
47 36 68
14.6 -28.0 70.0
11 10 24
19 24 16
15 14 22
-21.1 -41.7 37.5
51 44 64
47 46 59
-7.8 4.5 -7.8
65 34 66
56 25 66
73 37 74
30.4 48.0 12.1
23 17 17
26 15 23
35 24 25
34.6 60.0 8.7
84 49 56
101 56 69
20.2 14.3 23.2
174 106 233
251 165 244
339 149 299
35.1 -9.7 22.5
110 84 148
95 69 96
109 63 104
14.7 -8.7 8.3
341 231 391
327 220 335
-4.1 -4.8 -14.3
77 15 3
97 4 15
82 3 31
-15.5 -25.0 106.7
39 5 3
39 2 2
46 6 6
17.9 200.0 200.0
125 13 13
133 8 15
6.4 -38.5 15.4
36 16 16
33 14 16
35 8 21
6.1 -42.9 31.3
10 7 1
13 10 4
17 6 1
30.8 -40.0 -75.0
35 31 12
47 18 5
34.3 -41.9 -58.3
205 69 173
287 42 169
277 83 227
-3.5 97.6 34.3
108 39 90
148 23 69
141 32 82
-4.7 39.1 18.8
367 93 270
433 95 241
18.0 2.2 -10.7
263 126 720
270 112 627
386 130 785
43.0 16.1 25.2
143 48 325
130 57 337
104 52 317
-20.0 -8.8 -5.9
399 163 1018
373 171 995
-6.5 4.9 -2.3
20 20 19
38 31 52
21 40 31
-44.7 29.0 -40.4
6 17 9
8 18 3
16 20 14
100.0 11.1 366.7
23 39 30
37 52 21
60.9 33.3 -30.0
124 17 39
144 6 28
189 12 34
31.3 100.0 21.4
56 5 16
80 2 14
71 3 11
-11.3 50.0 -21.4
158 17 38
237 10 43
50.0 -41.2 13.2
1828 767 2127
2001 743 1923
2394 875 2399
19.6 17.8 24.8
862 383 971
1018 403 955
951 367 922
-6.6 -8.9 -3.5
2657 1125 2885
3066 1202 2917
15.4 6.8 1.1
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Jul 2010 Sep 2010
10 Jul 2011 Sep 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
$455,342
$573,259
$1,104,896
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to September 2011
Home listings continue to rise in the Greater Vancouver housing market VANCOUVER, B.C. – October 4, 2011 – Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market. 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 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years. “There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said."Buyers now have more properties to choose from and more time to make decisions compared to the spring season.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011. The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year. “Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time,” Setticasi said. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent. Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701. Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569. Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697. -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
September 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 % % % % $627,994 0.6% $627,941 265.2 8.8 16.6 29.0 162.3 $896,701 1.3% $894,610 264.8 13.4 23.5 36.0 161.8 $949,389 2.6% $932,698 279.4 23.1 31.4 43.7 177.9 $725,525 5.7% $725,361 255.2 3.2 6.8 22.4 147.0 $733,611 4.9% $740,157 239.7 11.2 17.0 27.3 138.6 $452,516 3.4% $453,239 206.4 0.5 1.0 9.7 106.2 $636,167 4.0% $633,901 262.2 9.7 19.3 24.4 170.5 $973,469 2.7% $961,019 243.2 11.1 19.4 27.6 138.6 $516,971 9.0% $536,691 212.2 -5.2 10.7 17.3 111.9 $561,750 5.4% $567,876 237.4 8.2 3.8 17.8 138.7 $803,474 14.7% $757,709 241.5 7.7 29.6 37.1 133.4 $1,077,967 2.7% $1,081,451 318.3 21.8 42.9 65.8 210.2 $473,104 12.0% $494,191 179.7 -1.8 -10.5 -0.5 60.8 $412,952 5.7% $416,061 234.9 -0.7 -4.4 7.8 140.9 $841,509 2.1% $839,830 285.0 15.7 29.3 36.9 182.2 $2,030,720 2.9% $2,012,830 337.0 24.5 54.4 75.6 230.6 $1,716,247 4.3% $1,735,533 252.8 18.9 22.0 32.1 155.8 $516,697 1.0% $517,680 250.6 5.4 11.2 25.4 151.0 $501,257 1.7% $510,355 251.1 3.4 9.5 26.2 157.7 $473,694 3.6% $465,085 255.5 8.1 13.9 27.0 147.8 $483,803 6.3% $478,372 259.1 4.6 10.9 21.1 153.2 $317,468 2.6% $315,235 220.2 5.8 1.5 12.3 125.2 $617,579 2.8% $637,987 241.7 0.4 10.4 18.6 143.2 $407,505 2.9% $412,477 224.1 3.9 2.2 16.2 116.1 $402,565 4.7% $400,033 240.2 4.8 4.1 11.9 141.6 $543,914 1.8% $550,421 262.3 4.8 18.3 36.1 157.8 $558,693 3.3% $558,436 261.2 8.2 5.1 27.6 169.9 $841,990 3.4% $817,539 300.5 9.5 20.6 33.4 205.8 $405,569 0.6% $406,111 263.8 4.4 9.9 21.3 159.3 $370,244 1.3% $370,388 276.7 5.5 11.3 23.9 173.7 $289,924 2.2% $291,820 247.2 -0.9 2.9 11.3 140.9 $381,233 5.4% $377,452 248.3 7.9 8.3 22.9 142.5 $244,455 3.5% $245,598 259.6 4.4 -2.5 7.6 140.3 $307,288 2.2% $308,048 249.6 3.5 8.8 19.9 155.1 $377,261 2.7% $388,917 240.0 -1.6 -0.2 10.4 139.2 $254,705 2.4% $248,693 298.3 3.8 1.0 13.9 180.4 $312,337 3.0% $309,919 266.5 2.9 7.7 13.8 167.2 $355,992 1.5% $360,110 289.3 4.3 15.7 26.9 185.4 $341,572 2.2% $341,752 279.6 4.7 6.9 25.8 169.9 $526,026 1.2% $522,951 267.6 5.8 13.0 23.2 158.3 $733,981 9.7% $731,844 263.4 15.8 21.2 22.1 168.6
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.
Sep 2011 May 2011 Jan 2011 Sep 2010 May 2010 Jan 2010
Jan 2009 Apartment
Sep 2008 May 2008 Jan 2008 Sep 2007 May 2007
Attached
Jan 2007 Sep 2006 May 2006 Jan 2006 Sep 2005
Detached
May 2005 Jan 2005 Sep 2004 May 2004 Jan 2004 Sep 2003 May 2003 Sep 2002 May 2002 Jan 2002 80
100
120
140
160
180
200
220
240
Sep 2001 260
Year 2001 average = 100
Jan 2003
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing
May 2009
Price Index
Price Index - Greater Vancouver 10 Year Trend
Sep 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
$776,500
$475,000
$343,000
Apartment
620
Attached
Attached
837
Detached
Detached
$355,850
Apartment
1,388
$491,000
Apartment
$898,000
678
Attached
Attached
1,040
Detached
Detached
$346,750
Apartment
1,481
$500,000
Attached
Apartment
$752,000
44
Attached
Detached
75
Detached
126
$390,000
Apartment
$499,500
Apartment
66
Attached
Attached
96
Detached
$917,000
$350,000
Apartment
Detached
$495,000
Attached
169
$1,006,500
Detached
Apartment
137
49
Attached
Apartment
74
Detached
Coquit lam $279,650
$468,950
$659,900
531
310
801
$288,000
$450,000
$708,000
558
440
1,081
$284,250
$471,000
$636,500
51
25
83
$253,000
$437,000
$705,750
51
46
112
$270,500
n/a
$690,000
55
17
106
Delta South $327,000
$417,750
$635,000
131
72
374
$334,000
$447,000
$657,000
119
69
513
n/a
n/a
$642,000
12
10
35
n/a
n/a
$670,000
18
11
48
n/a
n/a
$676,000
10
7
32
Islands - Gulf n/a
n/a
$366,000
0
0
25
n/a
n/a
$620,500
0
1
26
n/a
n/a
n/a
0
0
4
n/a
n/a
n/a
0
0
2
n/a
n/a
n/a
0
0
6
$232,000
$305,000
$486,872
206
349
880
$214,410
$309,900
$485,000
220
388
898
n/a
$287,097
$484,900
18
46
77
$214,450
$290,000
$495,329
24
31
108
$215,975
$305,771
$488,000
22
30 68
9
29
$289,000
$421,500
$590,000
661
76
235
$301,000
$415,700
$620,000
694
110
274
$304,444
n/a
$590,000
58
5
24
$290,943
n/a
$619,900
66
6
23
$312,500
n/a
$635,000
Maple R id g e/Pitt M eadow s 77
$375,000
$595,000
$875,000
665
290
735
$365,000
$630,000
$920,500
667
299
970
$400,000
$550,000
$860,000
73
21
62
$355,000
$599,000
$880,000
63
23
73
$367,500
$649,000
$950,000
48
35
79
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. Sep. 2010
Year-to-date
Jan. Sep. 2011
September 2010
August 2011
September 2011
Number of Sales
September 2011 Port C oquitla m $237,000
$382,000
$526,500
254
188
340
$239,900
$385,000
$539,450
229
185
363
n/a
n/a
$495,000
17
17
23
$222,000
n/a
$526,000
23
15
26
$237,000
$407,000
$536,000
25
24
35
$345,000
$448,325
$765,500
229
162
176
$335,000
$419,000
$828,100
217
175
184
$342,500
n/a
n/a
24
10
11
n/a
$399,250
n/a
16
24
19
$329,000
n/a
n/a
22
14 104
63
109
$333,000
$492,500
$835,000
1,444
895
1,303
$353,000
$546,000
$995,250
1,278
833
1,438
$332,850
$530,600
$804,000
148
84
110
$347,150
$530,000
$1,020,000
96
69
95
$348,500
$559,000
$1,025,000
Port M oody/B elcarra 15
Richm ond
2011
$259,000
$375,000
$488,000
51
85
135
$230,500
$355,000
$485,000
30
71
140
n/a
n/a
n/a
1
7
10
n/a
n/a
n/a
4
10
13
n/a
n/a
n/a
1
6
17
Squam ish
18
$227,500
$277,000
$415,000
38
45
395
$305,000
$272,500
$394,000
45
37
362
n/a
n/a
$430,000
3
5
39
n/a
n/a
$399,000
2
2
39
n/a
n/a
$377,500
6
6
46
Sunsh ine Co ast
9
y
Burnab
er New W estmin st
Vanco uver E ast $327,250
$554,250
$743,000
962
350
1,286
$344,400
$600,000
$820,000
905
329
1,486
$335,000
$502,000
$750,000
90
39
108
$355,000
$558,500
$830,000
69
23
148
$340,000
$600,000
$885,000
82
32
141
Vanco uver W est $465,000
$788,000
$1,675,000
3,498
547
1,329
$488,000
$865,000
$2,060,000
3,472
609
1,683
$473,500
$850,000
$1,660,000
325
48
143
$508,250
$938,800
$2,199,000
337
57
130
$474,000
$900,000
$2,012,500
317
52
104
$683,500
$1,094,000
$1,488,000
126
59
537
$735,000
$1,107,000
$1,780,000
171
48
969
n/a
n/a
$1,587,500
16
5
56
n/a
n/a
$2,090,000
14
2
80
n/a
n/a
$1,830,000
11
3
71
n/a
14
20
16
$294,000
$516,500
$847,500
56
106
68
$242,000
$575,000
$837,500
67
121
82
n/a
n/a
n/a
9
17
6
n/a
n/a
n/a
3
18
8
n/a
$550,000
Sound Wes t V a n couve r/Howe
MLS® SALES Facts
Whistl er/Pem berton n/a
10,240
4,154
9,456
n/a
10,153
4,393
11,509
n/a
971
383
866
n/a
955
403
1,020
n/a
922
367
957
% 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
50%
55%
50%
Apartment
1,119
Attached
Attached
1,679
Detached
Detached
56%
Apartment
2,776
57%
Apartment
59%
1,188
Attached
Attached
1,766
Detached
Detached
45%
Apartment
2,648
49%
Apartment
44%
Attached
89
Attached
Detached
170
Detached
279
66%
Apartment
Apartment
53%
124
Attached
53%
182
Detached
Attached
49%
Apartment
Detached
35%
Attached
258
35%
Detached
Apartment
279
141
Attached
Apartment
214
Detached
Coquit lam 43%
49%
45%
1,245
629
1,776
45%
62%
59%
1,230
712
1,842
41%
45%
46%
124
56
182
45%
88%
61%
114
52
185
38%
21%
51%
144
80
207
Delta South 57%
56%
52%
229
128
716
57%
61%
66%
208
114
772
41%
83%
38%
29
12
91
75%
138%
75%
24
8
64
37%
44%
44%
27
16
73
Islands - Gulf 0%
0%
15%
3
19
163
0%
n/a
19%
10
0
138
n/a
n/a
44%
0
0
9
n/a
n/a
11%
0
0
18
n/a
n/a
50%
0
0
12
36%
53%
46%
565
656
1,925
42%
61%
48%
522
639
1,877
33%
51%
48%
55
90
161
44%
53%
53%
54
58
202
52%
59%
37%
42
51
207
Maple R id g e/Pitt M eadow s 48%
70%
52%
1,380
108
451
53%
61%
68%
1,298
179
405
39%
33%
42%
148
15
57
57%
43%
55%
116
14
42
48%
45%
73%
141
20
40
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Sep. 2010
Year-to-date*
Jan. Sep. 2011
September 2010
August 2011
September 2011
Number of Listings
September 2011
North Vanco uver 46%
53%
50%
1,455
545
1,479
47%
59%
62%
1,434
509
1,577
44%
30%
37%
167
70
168
63%
61%
67%
100
38
109
24%
51%
39%
196
69
204
Port C oquitla m 45%
51%
50%
564
368
677
39%
58%
61%
585
317
600
26%
50%
35%
66
34
65
35%
60%
46%
66
25
56
34%
65%
48%
74
37
73
Port M oody/B elcarra 39%
51%
44%
581
319
404
42%
50%
47%
517
353
393
43%
31%
31%
56
32
35
40%
48%
46%
40
50
41
32%
39%
32%
68
36
47
Richm ond 54%
61%
53%
2,692
1,460
2,440
49%
51%
44%
2,631
1,625
3,232
64%
79%
63%
233
106
174
39%
42%
38%
244
165
251
35%
42%
32%
299
149
339
31%
43%
36%
162
199
378
15%
43%
37%
202
167
383
6%
44%
28%
16
16
36
25%
71%
39%
16
14
33
5%
75%
49%
21
8
35
Squam ish
2011
44%
44%
35%
87
102
1,121
28%
47%
35%
159
78
1,034
100%
33%
51%
3
15
77
13%
50%
40%
15
4
97
19%
200%
56%
31
3
82
Sunsh ine Co ast
18
53%
56%
51%
1,800
630
2,514
52%
59%
60%
1,748
561
2,473
52%
57%
53%
173
69
205
41%
55%
52%
169
42
287
36%
39%
51%
227
83
277
Vanco uver E ast
9
y
Burnab
er New W estmin st
Vanco uver W est 46%
45%
51%
7,544
1,211
2,599
50%
54%
55%
6,957
1,131
3,040
45%
38%
54%
720
126
263
54%
51%
48%
627
112
270
40%
40%
27%
785
130
386
Sound 38%
46%
41%
329
127
1,321
53%
50%
57%
322
96
1,698
41%
29%
45%
39
17
124
50%
33%
56%
28
6
144
32%
25%
38%
34
12
189
Wes t V a n couve r/Howe
MLS® LISTINGS Facts
19%
32%
24%
294
330
283
21%
32%
32%
316
378
260
47%
85%
30%
19
20
20
6%
58%
21%
52
31
38
45%
50%
76%
31
40
21
Whistl er/Pem berton n/a
21,706
7,950
19,926
n/a
20,787
8,047
21,490
n/a
2,127
767
1,837
n/a
1,923
743
2,019
n/a
2,399
875
2,406
Listing & Sales Activity Summary Listings
Sales
1 Sep 2010
2 Aug 2011
3 Sep 2011
5 Sep 2010
6 Aug 2011
7 Sep 2011
170 89 279
182 124 258
214 141 279
17.6 13.7 8.1
75 44 126
96 66 169
74 49 137
-22.9 -25.8 -18.9
235 157 396
265 187 471
12.8 19.1 18.9
182 56 124
185 52 114
207 80 144
11.9 53.8 26.3
83 25 51
112 46 51
106 17 55
-5.4 -63.0 7.8
219 76 152
318 109 168
45.2 43.4 10.5
91 12 29
64 8 24
73 16 27
14.1 100.0 12.5
35 10 12
48 11 18
32 7 10
-33.3 -36.4 -44.4
95 21 39
130 24 37
36.8 14.3 -5.1
161 90 55
202 58 54
207 51 42
2.5 -12.1 -22.2
77 46 18
108 31 24
77 30 22
-28.7 -3.2 -8.3
261 108 48
294 103 67
12.6 -4.6 39.6
168 70 167
109 38 100
204 69 196
87.2 81.6 96.0
62 21 73
73 23 63
79 35 48
8.2 52.2 -23.8
195 65 194
244 75 188
25.1 15.4 -3.1
57 15 148
42 14 116
40 20 141
-4.8 42.9 21.6
24 5 58
23 6 66
29 9 68
26.1 50.0 3.0
69 18 164
80 28 203
15.9 55.6 23.8
35 32 56
41 50 40
47 36 68
14.6 -28.0 70.0
11 10 24
19 24 16
15 14 22
-21.1 -41.7 37.5
51 44 64
47 46 59
-7.8 4.5 -7.8
65 34 66
56 25 66
73 37 74
30.4 48.0 12.1
23 17 17
26 15 23
35 24 25
34.6 60.0 8.7
84 49 56
101 56 69
20.2 14.3 23.2
174 106 233
251 165 244
339 149 299
35.1 -9.7 22.5
110 84 148
95 69 96
109 63 104
14.7 -8.7 8.3
341 231 391
327 220 335
-4.1 -4.8 -14.3
77 15 3
97 4 15
82 3 31
-15.5 -25.0 106.7
39 5 3
39 2 2
46 6 6
17.9 200.0 200.0
125 13 13
133 8 15
6.4 -38.5 15.4
36 16 16
33 14 16
35 8 21
6.1 -42.9 31.3
10 7 1
13 10 4
17 6 1
30.8 -40.0 -75.0
35 31 12
47 18 5
34.3 -41.9 -58.3
205 69 173
287 42 169
277 83 227
-3.5 97.6 34.3
108 39 90
148 23 69
141 32 82
-4.7 39.1 18.8
367 93 270
433 95 241
18.0 2.2 -10.7
263 126 720
270 112 627
386 130 785
43.0 16.1 25.2
143 48 325
130 57 337
104 52 317
-20.0 -8.8 -5.9
399 163 1018
373 171 995
-6.5 4.9 -2.3
20 20 19
38 31 52
21 40 31
-44.7 29.0 -40.4
6 17 9
8 18 3
16 20 14
100.0 11.1 366.7
23 39 30
37 52 21
60.9 33.3 -30.0
124 17 39
144 6 28
189 12 34
31.3 100.0 21.4
56 5 16
80 2 14
71 3 11
-11.3 50.0 -21.4
158 17 38
237 10 43
50.0 -41.2 13.2
1828 767 2127
2001 743 1923
2394 875 2399
19.6 17.8 24.8
862 383 971
1018 403 955
951 367 922
-6.6 -8.9 -3.5
2657 1125 2885
3066 1202 2917
15.4 6.8 1.1
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Jul 2010 Sep 2010
10 Jul 2011 Sep 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
$455,342
$573,259
$1,104,896
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to September 2011
