News Release FOR IMMEDIATE RELEASE
Greater Vancouver housing market sees typical spring activity in April VANCOUVER, B.C. – May 3, 2011 – Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011. Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007. “While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline. At 14,187, the total number of residential property listings on the MLS® increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year. “There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-todate market evaluation.” The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010. Sales of detached properties on the MLS® in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039. Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242. Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670. -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: cmunn@rebgv.org
also available at www.realtylink.org
MLSLINK HOUSING PRICE INDEX
Preliminary Report
April 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 % % % % $622,991 0.5% $614,781 263.13 5.0 9.7 37.1 166.5 $879,039 1.1% $864,830 259.6 7.4 14.0 41.6 162.3 $903,022 1.9% $877,873 265.8 14.0 17.2 43.0 162.4 $697,022 4.5% $700,911 245.2 -3.1 4.8 30.1 155.0 $716,312 3.7% $702,827 234.1 2.6 4.7 30.3 138.9 $464,818 2.9% $454,059 212.0 -1.0 0.5 20.7 117.7 $622,753 3.6% $608,940 256.7 3.7 5.7 26.0 153.5 $979,949 2.2% $941,992 244.8 4.4 7.3 33.6 148.1 $526,332 6.8% $535,312 216.0 -2.8 9.5 32.8 105.4 $592,495 6.3% $566,349 250.4 2.9 7.8 31.6 155.2 $725,113 11.5% $727,182 218.0 -6.9 -10.9 36.0 131.7 $1,084,694 2.1% $1,101,271 320.2 18.5 40.9 76.5 223.8 $447,007 10.5% $488,083 169.8 -8.6 -24.5 8.4 76.8 $411,535 7.8% $415,315 234.1 -3.8 -4.0 10.2 158.2 $808,008 1.9% $797,150 273.7 8.2 16.8 40.4 173.8 $1,970,056 2.0% $1,911,589 326.9 17.6 36.2 76.8 240.4 $1,637,312 3.6% $1,558,962 241.2 16.9 2.9 36.4 134.6 $514,670 0.7% $510,942 249.6 2.4 7.7 35.4 152.5 $505,015 1.4% $503,853 253.0 2.4 9.7 33.5 151.3 $445,822 2.2% $448,027 240.5 -1.5 4.3 27.8 140.6 $501,405 5.8% $482,608 268.5 7.6 7.1 41.3 139.8 $306,602 2.2% $303,765 212.7 -4.1 -4.3 20.0 111.3 $633,455 2.3% $626,357 247.9 0.8 5.1 32.1 152.6 $403,277 2.6% $404,702 221.8 -1.0 -0.3 18.7 124.9 $415,747 3.5% $412,564 248.1 0.4 0.1 28.9 150.2 $558,629 1.4% $553,742 269.4 8.8 19.5 47.0 179.2 $539,696 2.7% $545,340 252.3 -2.0 1.6 33.9 160.4 $820,316 2.5% $802,815 292.7 5.7 12.4 52.1 194.9 $409,242 0.6% $404,174 266.2 2.9 5.2 32.2 170.0 $370,314 1.2% $364,638 276.8 4.3 6.3 35.3 185.5 $303,181 1.9% $300,771 258.5 2.8 1.0 28.5 160.8 $384,949 5.0% $370,106 250.7 5.6 5.7 41.2 164.5 $245,317 3.4% $242,732 260.5 -3.7 -7.3 25.5 197.9 $309,324 2.0% $306,954 251.3 2.1 3.0 29.6 141.2 $392,283 2.3% $390,148 249.6 0.5 0.2 21.8 154.0 $251,174 2.4% $251,515 294.2 -0.5 -3.6 24.2 197.1 $304,180 2.9% $296,757 259.5 -0.8 -2.6 16.3 162.4 $360,425 1.3% $358,747 292.9 6.7 11.7 39.1 202.8 $350,514 2.0% $343,743 287.0 3.6 5.7 35.9 194.7 $527,089 1.0% $519,516 268.1 2.9 6.7 33.0 170.0 $680,192 6.7% $672,634 244.1 -6.5 1.0 25.7 141.4
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.
Apr 2011 Dec 2010 Aug 2010 Apr 2010 Dec 2009 Aug 2009
Aug 2008 Apartment
Apr 2008 Dec 2007 Aug 2007 Apr 2007 Dec 2006
Attached
Aug 2006 Apr 2006 Dec 2005 Aug 2005 Apr 2005
Detached
Dec 2004 Aug 2004 Apr 2004 Dec 2003 Aug 2003 Apr 2003 Dec 2002 Apr 2002 Dec 2001 Aug 2001 80
100
120
140
160
180
200
220
240
Apr 2001 260
Year 2001 average = 100
Aug 2002
280
C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS速 Housing
Dec 2008
Price Index
Price Index - Greater Vancouver 10 Year Trend
Apr 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
$773,000
$470,000
$342,000
Attached
Apartment
291
Attached
Detached
398
Detached
629
$350,450
Apartment
Apartment
$488,000
Attached
315
Attached
$868,000
491
Detached
Detached
$345,000
Apartment
617
$487,450
Apartment
$769,000
Attached
98
Attached
Detached
127
Detached
203
$350,000
Apartment
Apartment
$469,000
103
Attached
$850,000
160
Detached
Attached
$358,800
Apartment
Detached
$493,888
Attached
191
$910,000
Detached
Apartment
155
98
Apartment
150
Attached
Burnab y
Detached
2011
Coquit lam $273,050
$472,500
$660,000
264
151
368
$283,500
$459,900
$700,000
246
206
463
$279,250
$468,000
$685,000
90
59
96
$275,000
$432,000
$691,000
74
55
147
$300,000
$469,900
$725,500
72
63
143
Delta South $321,000
$419,000
$635,000
55
23
159
$331,000
$452,000
$639,000
50
31
260
n/a
n/a
$635,000
14
8
61
n/a
n/a
$639,000
17
12
109
n/a
n/a
$688,500
12
9
48
Islands - Gulf n/a
n/a
n/a
0
0
8
n/a
n/a
n/a
0
1
7
n/a
n/a
n/a
0
0
4
n/a
n/a
n/a
0
0
0
n/a
n/a
n/a
0
1
2
$232,000
$310,000
$489,000
105
169
406
$217,000
$314,301
$474,450
95
172
385
$232,000
$320,500
$490,000
25
46
131
$226,850
$322,500
$475,250
34
58
124
$210,000
$311,368
$474,500
26
56 80
11
39
$293,000
$418,250
$619,900
303
38
101
$310,000
$414,450
$600,000
304
46
117
$299,450
n/a
$565,000
96
10
41
$307,500
n/a
$587,500
98
19
36
$323,000
n/a
$615,000
Maple R id g e/Pitt M eadow s 89
$375,000
$635,000
$885,000
297
149
334
$360,000
$627,000
$920,000
300
149
424
$371,000
$645,000
$890,000
104
51
121
$365,000
$630,000
$931,175
113
43
134
$371,500
$640,000
$950,000
68
48
133
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. Apr. 2010
Year-to-date
Jan. Apr. 2011
April 2010
March 2011
April 2011
Number of Sales
April 2011
18
Port C oquitla m $237,000
$386,000
$532,500
132
87
152
$236,500
$384,450
$531,500
102
88
165
$237,000
$378,450
$572,850
42
28
42
$228,000
$389,000
$529,000
43
27
60
$247,000
$385,000
$544,100
27
24
43
Port M oody/B elcarra $352,500
$474,000
$785,000
105
76
79
$345,000
$417,000
$832,000
106
79
78
$362,000
$510,000
$728,750
31
28
26
$332,500
n/a
$850,000
40
19
30
$335,500
$412,000
$827,200
26
24
23
Richm ond $328,300
$480,000
$826,500
703
418
667
$352,500
$538,444
$998,400
669
424
818
$325,000
$476,500
$795,000
207
116
178
$359,900
$544,000
$988,000
230
142
262
$349,900
$545,000
$940,500
134
108
143
Squam ish $265,500
$400,000
$537,000
29
31
58
n/a
$368,147
$450,000
14
33
59
n/a
n/a
$539,500
8
14
28
n/a
n/a
$440,000
3
8
21
n/a
n/a
n/a
6
17
18
n/a
$272,500
$415,000
16
20
156
n/a
n/a
$388,000
14
18
132
n/a
n/a
$415,000
5
9
57
n/a
n/a
$414,500
3
3
44
n/a
n/a
$388,000
5
7
33
Sunsh ine Co ast
4
er New W estmin st
Vanco uver E ast $328,750
$570,800
$743,000
466
154
599
$341,000
$603,500
$791,800
454
162
662
$320,500
$581,000
$750,000
144
41
168
$348,000
$622,450
$794,500
162
58
227
$346,000
$590,000
$820,000
102
47
171
Vanco uver W est $465,000
$794,500
$1,726,000
1,566
236
633
$485,000
$883,100
$2,029,000
1,662
298
869
$450,750
$762,250
$1,698,000
539
88
193
$488,000
$904,000
$1,915,000
581
90
279
$485,000
$890,000
$2,060,000
451
95
214
$685,000
$1,029,000
$1,459,500
56
26
249
$730,000
$1,125,000
$1,642,500
83
23
431
n/a
n/a
$1,545,000
14
7
91
$654,000
n/a
$1,652,500
26
11
152
$785,000
n/a
$1,910,000
31
4
141
26
42
31
n/a
n/a
n/a
4
13
6
n/a
n/a
n/a
7
15
10
n/a
n/a
n/a
6
10
12
n/a
$505,500
$920,000
17
39
27
$233,750
$588,750
$930,000
Sound We s t V a ncouv er/How e
MLS速 SALES Facts
Whistl er/Pem berton n/a
4,743
1,908
4,394
n/a
4,742
2,087
5,392
n/a
1,526
616
1,370
n/a
1,622
663
1,795
n/a
1,201
622
1,402
% 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
46%
55%
46%
Attached
Apartment
530
Attached
Detached
858
Detached
1,373
53%
Apartment
Apartment
60%
Attached
526
Attached
68%
726
Detached
Detached
47%
Apartment
1,163
56%
Attached
Apartment
46%
174
Attached
Detached
275
Detached
428
57%
Apartment
72%
Apartment
144
Attached
Attached
221
Detached
72%
55%
Apartment
Detached
72%
Attached
338
78%
Detached
Apartment
283
136
Apartment
193
Attached
Burnab y
Detached
2011
Coquit lam 42%
48%
43%
625
313
855
44%
63%
57%
563
327
807
48%
53%
34%
186
111
280
44%
64%
63%
168
86
232
60%
82%
64%
120
77
225
Delta South 51%
41%
44%
108
56
358
60%
61%
66%
83
51
393
32%
42%
52%
44
19
118
63%
60%
80%
27
20
137
52%
100%
59%
23
9
81
Islands - Gulf 0%
n/a
12%
2
0
65
0%
n/a
12%
2
0
59
n/a
n/a
24%
0
0
17
n/a
n/a
0%
0
0
20
n/a
n/a
13%
0
0
16
36%
57%
44%
291
299
917
36%
51%
47%
267
338
816
43%
53%
45%
58
86
293
45%
62%
57%
76
94
217
40%
67%
42%
65
84
210
Maple R id g e/Pitt M eadow s 44%
75%
49%
686
51
208
50%
55%
62%
603
83
188
56%
100%
59%
172
10
69
64%
79%
60%
153
24
60
55%
55%
87%
145
20
45
* Year-to-date listings represent a cumulative total of listings rather than total active listings.
Year-to-date*
Jan. Apr. 2010
Year-to-date*
Jan. Apr. 2011
April 2010
March 2011
April 2011
Number of Listings
April 2011
18
North Vanco uver 42%
57%
46%
710
262
728
45%
61%
58%
666
244
730
48%
57%
44%
216
90
275
72%
57%
67%
157
76
201
36%
84%
69%
188
57
193
Port C oquitla m 46%
53%
44%
289
163
346
39%
57%
60%
264
154
273
59%
67%
36%
71
42
117
65%
64%
75%
66
42
80
52%
62%
61%
52
39
71
Port M oody/B elcarra 35%
55%
40%
298
138
199
43%
55%
45%
244
143
175
34%
58%
41%
91
48
63
63%
53%
57%
64
36
53
52%
59%
59%
50
41
39
Richm ond 51%
57%
53%
1,366
733
1,263
54%
57%
49%
1,235
743
1,680
52%
50%
46%
396
230
385
63%
66%
47%
368
214
552
42%
45%
35%
322
239
408
Squam ish 45%
36%
35%
65
87
168
15%
36%
32%
91
92
186
35%
52%
57%
23
27
49
8%
19%
47%
37
43
45
55%
74%
38%
11
23
48
Sunsh ine Co ast 31%
36%
28%
51
55
556
18%
36%
27%
80
50
497
167%
90%
35%
3
10
162
50%
27%
28%
6
11
155
8%
39%
25%
60
18
130
49%
53%
48%
947
292
1,238
58%
66%
60%
779
247
1,107
47%
35%
41%
306
117
408
70%
83%
68%
233
70
335
55%
85%
59%
186
55
291
Vanco uver E ast
4
er New W estmin st
Vanco uver W est 42%
42%
50%
3,747
567
1,258
52%
56%
60%
3,216
530
1,439
46%
45%
46%
1,163
194
424
58%
53%
66%
994
169
424
60%
79%
60%
756
121
358
Sound 35%
38%
40%
160
68
626
55%
52%
61%
151
44
703
33%
28%
47%
42
25
195
57%
157%
76%
46
7
199
86%
44%
71%
36
9
200
We s t V a ncouv er/How e
MLS速 LISTINGS Facts
11%
25%
22%
148
159
123
20%
26%
35%
130
162
88
8%
28%
15%
50
47
39
19%
34%
63%
37
44
16
25%
19%
32%
24
52
38
Whistl er/Pem berton n/a
10,866
3,773
9,766
n/a
9,537
3,734
9,867
n/a
3,249
1,230
3,169
n/a
2,770
1,080
2,947
n/a
2,321
980
2,546
Listing & Sales Activity Summary Listings
Sales
1 Apr 2010
2 Mar 2011
3 Apr 2011
5 Apr 2010
6 Mar 2011
7 Apr 2011
275 174 428
221 144 338
193 136 283
-12.7 -5.6 -16.3
127 98 203
160 103 191
150 98 155
-6.3 -4.9 -18.8
330 235 517
415 275 506
25.8 17.0 -2.1
280 111 186
232 86 168
225 77 120
-3.0 -10.5 -28.6
96 59 90
147 55 74
143 63 72
-2.7 14.5 -2.7
302 125 211
398 168 207
31.8 34.4 -1.9
118 19 44
137 20 27
81 9 23
-40.9 -55.0 -14.8
61 8 14
109 12 17
48 9 12
-56.0 -25.0 -29.4
143 22 48
230 28 46
60.8 27.3 -4.2
293 86 58
217 94 76
210 84 65
-3.2 -10.6 -14.5
131 46 25
124 58 34
89 56 26
-28.2 -3.4 -23.5
334 144 87
319 146 85
-4.5 1.4 -2.3
275 90 216
201 76 157
193 57 188
-4.0 -25.0 19.7
121 51 104
134 43 113
133 48 68
-0.7 11.6 -39.8
294 124 242
378 127 266
28.6 2.4 9.9
69 10 172
60 24 153
45 20 145
-25.0 -16.7 -5.2
41 10 96
36 19 98
39 11 80
8.3 -42.1 -18.4
91 28 256
105 39 259
15.4 39.3 1.2
63 48 91
53 36 64
39 41 50
-26.4 13.9 -21.9
26 28 31
30 19 40
23 24 26
-23.3 26.3 -35.0
66 65 83
71 64 93
7.6 -1.5 12.0
117 42 71
80 42 66
71 39 52
-11.3 -7.1 -21.2
42 28 42
60 27 43
43 24 27
-28.3 -11.1 -37.2
127 80 113
143 71 89
12.6 -11.3 -21.2
385 230 396
552 214 368
408 239 322
-26.1 11.7 -12.5
178 116 207
262 142 230
143 108 134
-45.4 -23.9 -41.7
554 346 561
656 350 545
18.4 1.2 -2.9
162 10 3
155 11 6
130 18 60
-16.1 63.6 900.0
57 9 5
44 3 3
33 7 5
-25.0 133.3 66.7
129 18 14
116 16 11
-10.1 -11.1 -21.4
49 27 23
45 43 37
48 23 11
6.7 -46.5 -70.3
28 14 8
21 8 3
18 17 6
-14.3 112.5 100.0
49 25 19
54 31 12
10.2 24.0 -36.8
408 117 306
335 70 233
291 55 186
-13.1 -21.4 -20.2
168 41 144
227 58 162
171 47 102
-24.7 -19.0 -37.0
487 118 376
563 143 380
15.6 21.2 1.1
424 194 1163
424 169 994
358 121 756
-15.6 -28.4 -23.9
193 88 539
279 90 581
214 95 451
-23.3 5.6 -22.4
531 206 1268
735 262 1436
38.4 27.2 13.2
39 47 50
16 44 37
38 52 24
137.5 18.2 -35.1
6 13 4
10 15 7
12 10 6
20.0 -33.3 -14.3
22 26 10
26 35 19
18.2 34.6 90.0
195 25 42
199 7 46
200 9 36
0.5 28.6 -21.7
91 7 14
152 11 26
141 4 31
-7.2 -63.6 19.2
223 19 47
385 18 75
72.6 -5.3 59.6
3152 1230 3249
2927 1080 2770
2530 980 2321
-13.6 -9.3 -16.2
1366 616 1526
1795 663 1622
1400 621 1201
-22.0 -6.3 -26.0
3682 1581 3852
4594 1773 4029
24.8 12.1 4.6
BURNABY DETACHED ATTACHED APARTMENTS
Col. 2 & 3 Percentage Variance
%
Col. 6 & 7 Percentage Variance
9 Feb 2010 Apr 2010
10 Feb 2011 Apr 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
$483,424
$573,318
$1,204,587
NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
IN THOUSANDS ($)
Residential Average Sale Prices - January 1977 to April 2011