Greater Vancouver Property Prices Rise 12.4% from November 2008

Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark…

Downtown Vancouver Real Estate Analysis for August 2009

Vancouver’s Downtown condo market has seen listings stabilize since April, sales stabilize since June and the average selling price unchanged since June. Monthly Sales remain the highest since Jan’08.  Condos that  “expired” and didn’t sell increased from 33 to 42 (vs. 78 in Jan) and only 7 got re-listed.   Average days on the market for condos that sold dropped to 25 and are the lowest since Jan’08. The average sale price for Downtown condos is $439,000 and higher than a year ago. The average $ pr sq ft for condos that sold is up to…

Vancouver Real Estate Analysis for Kitsilano, July 2009

Kits condo market inventory continues to drop to the lowest level since we started this analysis 18 months ago.  Vancouver real estate market analysis for Kitsilano condos saw July sales up and higher than any of the last 18 months.   Listings dropped to a low of 78, half of what they wee a year ago. Average price for solds increased from $421,000 to $460,866 and for the last 2 months is higher than it was a year ago.   Average Days on the market for sold condos increased from 26 to 35,  List price…

Vancouver Real Estate Graphs for July 2009

The average price of houses, townhouses  dipped slightly in July, compared to June. Condo prices continued to climb. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present.  The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn’t appreciate much between 1990 and 2002 but they did between 2002 and 2008 and prices are back to where they were in mid…

Greater Vancouver Real Estate Sales Strongest July Ever

Just released from REBGV The Greater Vancouver housing market gained further momentum in July with record sales levels and a continued strengthening of home prices.The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential > becoming the highest volume of sales ever recorded within the REBGV for that month, outpacing the 4,023 sales in July 2003, which is the only other year that July sales exceeded the 4,000 mark.Since the beginning…

Vancouver Real Estate Analysis for Downtown June 2009

Vancouver’s Downtown condo market saw listings up slightly to 437  and are the lowest since January 2008.  52 condos expired and came off the market(vs. 78 in Jan) and only 6 got relisted. Sales spiked from 117 to 176 and are by far the highest for the last 18 months.  Average days on the market for condos that sold dropped to 32. The average price for Downtown condos that sold is up to $421,929 but lower than a year ago. The average $ pr sq ft for condos that…

BCREA Graph Shows Vancouver Homes Sales Climb for 5th Consecutive Month

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province rose 40 per cent to 9,970 units in June 2009 compared to the same month last year. Activity in the month of June marked the fifth consecutive month of rising sales and the highest level of activity since January 2008, on a seasonally adjusted basis.  “Housing markets around BC continued to post higher sales in June, fuelled…

Vancouver Real Estate Sales for June 75% Higher than June 2008

REBGV just released Vancouver real estate numbers for June, as follows. The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is…

Vancouver Real Estate Sales in May Up from May 2008

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential >. Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.“The increased level of buyer activity over the last few months has had a stabilizing effect on home…