Real Estate News

Average Price Graph for Greater Vancouver – Feb 2010

Thu, 04 Mar 2010 00:54:06 GMT

HOME SALES ACTIVITY STRONG THROUGH OLYMPIC PERIOD

Thu, 04 Mar 2010 00:46:00 GMT

VANCOUVER, B.C. – March 2, 2010 –The Greater Vancouver housing market continued to experience strong demand from homebuyers and an increase in total property listings in a month where the eyes of the world were focused on the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,473 in February 2010, an increase of 67.1 per cent compared to February 2009 when 1,480 sales were recorded and a 28.6 per cent increase compared to the 1,923 sales recorded in January 2010.

More broadly, last month’s sales totals marked a 7.6 per cent decline compared to the 2,676 sales recorded in February 2008 and were 13.5 per cent behind February 2007 when 2,859 residential sales were recorded on the Multiple Listing Service (MLS®) in Greater Vancouver.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 19.7 per cent to $581,911 from $486,054 in February 2009. This price is 2.4 per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at $568,411.

“We don’t know at this point what long-term impact the Olympics will have on our housing market, but we do know that activity in our market remained steady through all of the excitement and distraction of the last few weeks,” Scott Russell, REBGV president said.

“In February, for example, 110 sales were recorded on the MLS® in downtown Vancouver. That’s higher than 2009 and slightly lower than the mid-2000s, which is consistent with data from the overall market. It’s too soon to say whether that’s an Olympic effect,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,606 in February 2010. This represents a 17.6 per cent increase compared to February 2009 when 3,916 new units were listed, and a 10.5 per cent decrease compared to January 2010 when 5,147 properties were listed on the MLS® in Greater Vancouver.

At 11,346, the total number of property listings on the MLS® increased 11 per cent in February compared to last month and declined 21 per cent from this time last year.

“Two months into 2010, we see the total number of homes listed for sale on the rise and demand in the market strong, but less frenzied than we saw in the latter part of 2009,” Russell said.

Sales of detached properties increased 67.5 per cent in February 2010 to 983 from the 587 detached sales recorded during the same period in 2009. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 22.5 per cent from February 2009 to $800,796.

Sales of apartment properties in February 2010 increased 65.2 per cent to 1,074 compared to 650 sales in February 2009. The benchmark price of an apartment property increased 17.3 per cent from February 2009 to $390,899.

Attached property sales in February 2010 are up 71.2 per cent to 416, compared with the 243 sales in February 2009. The benchmark price of an attached unit increased 16.2 per cent between Februarys 2009 and 2010 to $495,496.

BENCHMARK

The Real Estate Board of Greater Vancouver maintains information on benchmark prices for typical properties in three classes:

Detached – i.e. single family homes
Attached – i.e. townhouses and duplexes
Apartments

Below I have set out the figures for February 2010. Figures in brackets refer to the change over the same period in 2009. I have highlighted the largest increases(in bold) and the smallest (in red).

DETACHED BENCHMARK PRICES

Greater Vancouver $800,796 (22.5%)
Burnaby $774,525 (22.8%)
Coquitlam $719,714 (20.8%)
South Delta $664,305 (14.4%)
Maple Ridge $442,118 (13.1%)
New Westminster $573,662 (12.6%)
North Vancouver $916,146 (23.8%)
Pitt Meadows $521,825 (38%)
Port Coquitlam $570,303 (17.4%)
Port Moody $627,141 (-7.6%)
Richmond $878,749 (29.4%)
Squamish $528,044 (-0.5%)
Sunshine Coast $430,884 (24.3%)
Vancouver East $729,530 (19.6%)
Vancouver West $1,667,089 (42.4%)
West Vancouver $1,480,685 (20.1%)

ATTACHED BENCHMARK PRICES

Greater Vancouver $495,496 (16.2%)
Burnaby $480,482 (14.6%)
Coquitlam $438,954 (13.3%)
South Delta $517,675 (7.9%)
Maple Ridge & Pitt Meadows $317,883 (13.1%)
North Vancouver $605,337 (13%)
Port Coquitlam $416,616 (15.2%)
Port Moody $407,255 (12.8%)
Richmond $510,416 (22%)
Vancouver East $521,515 (13.3%)
Vancouver West $766,053 (20.6%)

APARTMENT BENCHMARK PRICES

Greater Vancouver $390,899 (17.3%)
Burnaby $352,658 (16.9%)
Coquitlam $291,086 (18.2%)
South Delta $356,119 (10.8%)
Maple Ridge & Pitt Meadows $247,683 (6.1%)
New Westminster $297,967 (15.7%)
North Vancouver $384,147 (15.5%)
Port Coquitlam $258,056 (14.5%)
Port Moody $297,994 (17%)
Richmond $332,169 (19.5%)
Vancouver East $329,891 (15.3%)
Vancouver West $505,851 (19.7%)
West Vancouver $601,381 (5.2%)

Statistics for January, 2010 in Vancouver

Mon, 08 Feb 2010 20:27:38 GMT

HOUSING SUPPLY AND DEMAND REACH CLOSER ALIGNMENT IN JANUARY

VANCOUVER, B.C. – February 2, 2010 – Diverse selection and favourable interest rates continue to drive demand in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,923 in January 2010, an increase of 152.4 per cent compared to January 2009 when 762 sales were recorded and a 23.5 per cent decline compared to the 2,515 sales recorded in December 2009.

In terms of historical perspective, January ranked as an average month for number of residential housing sales over the past decade, with higher sales in January 2002, 2003, 2004, and 2006.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 17.2 per cent to $573,241 from $489,007 in January 2009. This price is 0.8 per cent above the previous high point in the market in May 2008 when the residential benchmark price sat at $568,411.

“Although home prices in the region have largely returned to their previous peaks, we still see a significant number of first-time and move-up buyers in the market, thanks to low interest rates and the diverse range of properties available today,” Jake Moldowan, REBGV president-elect said.

“There is also closer alignment between supply and demand in today’s housing market. At 18 per cent, the sales to active listings ratio in January is approximately 10 per cent lower than we’ve seen in our market over the last six months,” Moldowan said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,147 in January 2010. This represents a 39.1 per cent increase compared to January 2009 when 3,700 new units were listed, and a 139.1 per cent increase compared to December 2009 when 2,153 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

At 10,218, the total number of property listings on the MLS® increased 14 per cent in January compared to last month and declined 26 per cent from this time last year.

“Looking ahead, it’s difficult to know exactly what the Olympic effect will be on our market in February, although I think it’s fair to say it should be a quieter period for home buyers and sellers and so, in fact, may be a good time for motivated buyers to search for properties,” Moldowan said.

In January, sales of detached properties increased 141.4 per cent to 705 from the 292 detached sales recorded during the same period in 2009. The benchmark price, as calculated by the MLSLink® Housing Price Index, for detached properties increased 19.5 per cent from January 2009 to $788,499.

Sales of apartment properties in January 2010 increased 146.8 per cent to 891 compared to 361 sales in January 2009. The benchmark price of an apartment property increased 15.2 per cent from January 2009 to $385,487.

Attached property sales in January 2010 are up 200 per cent to 327, compared with the 109 sales in January 2009. The benchmark price of an attached unit increased 13.4 per cent between January 2009 and 2010 to $482,478.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 1 year percentage rise in brackets.

Prices for detached homes have increased year on year almost all across the region. The exception is Squamish where a 13% drop seems to run counter to the expected Olympic effect.

Benchmark prices for attached homes (townhouses) were up across the region. This was particularly marked for South Delta.

Apartments also saw benchmark prices rising across the region with the exception of Maple Ridge and Pitt Meadows where a small fall year on year ran counter to the trend elsewhere.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $788,499 (19.5%)
Burnaby $766,570 (17.6%)
Coquitlam $690,654 (16.3%)
South Delta $661,255 (0.1%)
Maple Ridge $458,588 (12.3%)
New Westminster $599,884 (11.4%)
North Vancouver $906,928 (15.8%)
Pitt Meadows $497,885 (5.1%)
Port Coquitlam $561,623 (11.1%)
Port Moody $785,577 (9.3%)
Richmond $846,363 (30.2%)
Squamish $472,813 (-13.1%)
Sunshine Coast $414,805 (14.1%)
Vancouver East $730,274 (23.3%)
Vancouver West $1574,159 (38.7%)
West Vancouver $1414,483 (21.2%)

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $482,478 (13.4%)
Burnaby $465,125 (17.1%)
Coquitlam $438,588 (14.9%)
South Delta $517,023 (35.5%)
Maple Ridge & Pitt Meadows $306,184 (3.3%)
North Vancouver $586,453 (9.3%)
Port Coquitlam $393,861 (5.9%)
Port Moody $385,412 (15%)
Richmond $499,626 (17.8%)
Vancouver East $505,884 (7.4%)
Vancouver West $758,012 (16.5%)

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $385,487 (15.2%)
Burnaby $349,704 (12.8%)
Coquitlam $296,741 (17.7%)
South Delta $376,489 (14.2%)
Maple Ridge & Pitt Meadows $240,751 (-2.3%)
New Westminster $282,057 (11.8%)
North Vancouver $382,983 (19.4%)
Port Coquitlam $253,280 (14.6%)
Port Moody $300,427 (13.1%)
Richmond $326,709 (18.9%)
Vancouver East $337,416 (13.5%)
Vancouver West $490,060 (15.1%)
West Vancouver $638,577 (27.7%)

Vancouver Real Estate Statistics – December 2009

Fri, 15 Jan 2010 00:54:28 GMT

SLOW START, STRONG FINISH FOR HOUSING MARKET IN 2009

VANCOUVER, B.C. – January 5, 2010 – After beginning the year at near record low sales levels, buyers’ confidence in the Greater Vancouver housing market quickly returned, allowing for significant and sustained increases in the number of residential property sales for much of 2009.

The Real Estate Board of Greater Vancouver (REBGV) reports that total unit sales of detached, attached and apartment properties in 2009 reached 35,669, a 44.8 per cent increase from the 24,626 unit sales recorded in 2008, but a 6.3 per cent decline from the 38,050 residential sales in 2007.

The number of homes listed for sale on the Multiple Listing Service® (MLS®) in Greater Vancouver declined 15.5 per cent in 2009 to 52,869 compared to the 62,561 properties listed in 2008.

“Low interest rates, an economy emerging from recession and continuing to improve, and consumer confidence led to the resurgence experienced in the Greater Vancouver housing market in 2009,” Scott Russell, REBGV president said. “Home sales neared or passed monthly records in Greater Vancouver throughout the latter half of 2009. In fact, last month’s home sales rank as the third highest selling December in the 90-year history of our organization.”

Residential property sales in Greater Vancouver totalled 2,515 in December 2009, an increase of 172.2 per cent from the 924 sales recorded in December 2008, and an 18.4 per cent decline compared to November 2009 when 3,083 home sales occurred.

The residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver increased 16.2 per cent to $562,463 between Decembers 2008 and 2009.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,153 in December 2009. This represents a 38.9 per cent increase compared to the 1,550 new units listed in December 2008 and a 41.1 per cent decline compared to November 2009 when 3,653 properties were listed.

“The number of homes listed for sale on our MLS® has been in decline in Greater Vancouver for eight of the last nine months, which results in upward pressure on home prices and less selection for buyers to choose from,” Russell said.

Total active listings in Greater Vancouver currently sit at 8,939, a decrease of 41 per cent from December 2008, and a decrease of 19 per cent from November 2009 (see graph on page two for more detail).

Sales of detached properties in December 2009 increased 159.2 per cent to 902, compared to 348 sales in December 2008. The benchmark price for detached properties increased 18.3 per cent to $766,816 compared to December 2008.

Sales of apartment properties in December 2009 increased 176.7 per cent to 1,154, compared to 417 sales in December 2008. The benchmark price of an apartment property increased 14.8 per cent since December 2008 to $382,573.

Attached property sales in December 2009 increased 188.7 per cent to 459, compared with the 159 sales in December 2008. The benchmark price of an attached unit increased 12.9 per cent between Decembers 2008 and 2009 to $478,093.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $766,816 (18.3%)
Burnaby $748,757 (16.7%)
Coquitlam $667,707 (14.7%)
South Delta $664,527 (17.1%)
Maple Ridge $442,557 (12.1%)
New Westminster $573,992 (15%)
North Vancouver $882,358 (21.1%)
Pitt Meadows $505,716 (15.1%)
Port Coquitlam $541,679 (3.2%)
Port Moody $719,075 (30.7%)
Richmond $817,741 (19%)
Squamish $500,874 (-3.2%)
Sunshine Coast $439,068 (11.1%)
Vancouver East $713,210 (23%)
Vancouver West $1516,835 (30.2%)
West Vancouver $1319,131 (12.9%)

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $478,093 (12.9%)
Burnaby $465,225 (13%)
Coquitlam $426,345 (11.6%)
South Delta $486,157 (22.5%)
Maple Ridge & Pitt Meadows $300,398 (0%)
North Vancouver $579,985 (14.6%)
Port Coquitlam $385,128 (8.2%)
Port Moody $392,685 (4.7%)
Richmond $493,163 (16.1%)
Vancouver East $495,509 (6.8%)
Vancouver West $776,022 (27.3%)

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $382,573 (14.8%)
Burnaby $341,913 (15.3%)
Coquitlam $289,686 (19%)
South Delta $349,737 (7.9%)
Maple Ridge & Pitt Meadows $240,520 (9.1%)
New Westminster $288,987 (11.4%)
North Vancouver $388,373 (16.6%)
Port Coquitlam $251,083 (13%)
Port Moody $296,398 (6.2%)
Richmond $323,139 (15.8%)
Vancouver East $326,256 (13.3%)
Vancouver West $494,174 (16.4%)
West Vancouver $543,625 (-5.6%)

CMHC says we are in a Sellers’ Market in BC

Mon, 30 Nov 2009 22:16:26 GMT

The graph above is from the CMHC’s Housing Now report for November 2009. It looks at the ratio of sales to new listings which is “a good indicator of price pressure in the existing home market”. The CMHC also noted that “With respect to B.C., the market has turned around and the average MLS® price, as of October 2009, is $487,597. This is higher than the February 2008 peak of $484,517.”

The full report is available as a pdf document here.

October Real Estate Statistics

Thu, 19 Nov 2009 23:06:34 GMT

HIGH SALES LEVELS SPUR RISE IN HOME VALUES

VANCOUVER, B.C. – November 2, 2009 –

Strong demand has led to a steady rise in Greater Vancouver home prices compared to last year.

Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.8 per cent to $553,702 from $518,668 in October 2008.

“While home prices have been rising in 2009, they have not eclipsed the peaks reached in early 2008,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “We’re coming off several months of unseasonably high sales levels, which has allowed for a gradual increase in home values this year,”

The REBGV reports that residential property sales in Greater Vancouver totalled 3,704 in October 2009, an increase of 4.1 per cent from the 3,559 sales recorded in September 2009, and an increase of 171.6 per cent compared to October 2008 when 1,364 sales were recorded. Looking back two years, last month’s sales increased 22.3 per cent compared to October 2007 when 3,028 sales were recorded.

“High confidence and low mortgage rates are continuing to drive the activity we’re seeing in the housing market today,” Russell said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,977 in October 2009. This represents a 2.3 per cent increase compared to October 2008 when 4,867 new units were listed, and a 13.4 per cent decline compared to September 2009 when 5,764 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

At 12,084, the total number of property listings on the MLS® decreased 4.1 per cent in October compared to last month and declined 37 per cent from this time last year.

Sales of detached properties increased 201.6 per cent to 1,487 from the 493 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 7.7 per cent from October 2008 to $749,808.

Sales of apartment properties in October 2009 increased 148.4 per cent to 1,607, compared to 647sales in October 2008. The benchmark price of an apartment property increased 6.3 per cent from October 2008 to $380,975.

Attached property sales in October 2009 are up 172.3 per cent to 610, compared with the 224 sales in October 2008. The benchmark price of an attached unit increased 4.6 per cent between Octobers 2008 and 2009 to $468,798.

REAL ESTATE BOARD BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets.

The top percentage price rise over the year is shown in bold. I have also marked the biggest fall in red.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $749,808 (7.7%)
Burnaby $752,424 (9.7%)
Coquitlam $591,011 (-5.7%)
South Delta $648,386 (12%)
Maple Ridge $430,412 (0.2%)
New Westminster $577,434 (6.4%)
North Vancouver $888,797 (10.7%)
Pitt Meadows $500,954 (5.7%)
Port Coquitlam $500,022 (-5.5%)
Port Moody $770,555 (42.1%)
Richmond $793,296 (6.7%)
Squamish $574,885 (9.2%)
Sunshine Coast $422,411 (-1.6%)
Vancouver East $694,145 (8.8%)
Vancouver West $1491,294 (16.6%)
West Vancouver $1422,019 (24.6%)

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $468,798 (4.6%)
Burnaby $462,810 (2.5%)
Coquitlam $417,131 (4.3%)
South Delta $459,903 (8.9%)
Maple Ridge & Pitt Meadows $301,005 (-1.5%)
North Vancouver $599,391 (4.6%)
Port Coquitlam $396,905 (3.8%)
Port Moody $373,476 (-3.4%)
Richmond $468,947 (5.7%)
Vancouver East $511,772 (3.2%)
Vancouver West $722,981 (14.6%)

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $380,975 (6.3%)
Burnaby $340,491 (5.6%)
Coquitlam $283,896 (2.3%)
South Delta $345,475 (5.2%)
Maple Ridge & Pitt Meadows $239,416 (-1%)
New Westminster $291,566 (4.9%)
North Vancouver $389,500 (7.5%)
Port Coquitlam $244,626 (0.9%)
Port Moody $297,808 (5.6%)
Richmond $321,700 (7.7%)
Vancouver East $327,357 (1.6%)
Vancouver West $489,773 (9.2%)
West Vancouver $578,631 (-0.1%)

North shore market snapshot – October 15, 2009

Fri, 16 Oct 2009 00:14:09 GMT

I just had a look at the sales on the north shore in the last month.

In North Vancouver we saw a healthy sales volume. Figures in brackets show the average sold price:

89 houses
($964,840)
64 apartments
($362,903)
34 townhouses
($566,093)
5 half duplexes
($755,900)

In West Vancouver the market as usual is in houses, reflecting the nature of the area:

56 houses
($1,072,000)
6 apartments
($770,167)
5 townhouses
($836,000)
1 half duplex
($3,460,000)

September real estate statistics

Thu, 08 Oct 2009 22:37:20 GMT

BUYER DEMAND REMAINS STRONG WHILE HOME LISTINGS INCREASE

VANCOUVER, B.C. – October 2, 2009

Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.

“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.

At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.

“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.

Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.

Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.

Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

DETACHED BENCHMARK PRICES

Greater Vancouver $741,632 (2.1%), [3yr: 12.5%]
Burnaby $753,155 (4.2%), [3yr: 14%]
Coquitlam $635,150 (-6.5%), [3yr: 7.1%]
South Delta $626,786 (0%), [3yr: 8.8%]
Maple Ridge $425,596 (-5%), [3yr: 3.2%]
New Westminster $561,793 (5.3%), [3yr: 9.9%]
North Vancouver $870,100 (6.7%), [3yr: 14.1%]
Pitt Meadows $486,775 (4.2%), [3yr: 10.5%]
Port Coquitlam $534,009 (-1.3%), [3yr: 12%]
Port Moody $714,977 (15.3%), [3yr: 22%]
Richmond $757,389 (0.4%), [3yr: 16.5%]
Squamish $499,510 (-5.5%), [3yr: 5.1%]
Sunshine Coast $405,049 (-6.2%), [3yr: 5.8%]
Vancouver East $697,974 (7.3%), [3yr: 13.5%]
Vancouver West $1,448,233 (10.1%), [3yr: 25.2%]
West Vancouver $1,309,885 (-6.9%), [3yr: 0.8%]

ATTACHED BENCHMARK PRICES

Greater Vancouver $466,276 (0.4%), [3yr: 13.2%]
Burnaby $461,285 (0.8%), [3yr: 16.1%]
Coquitlam $411,174 (-1.2%), [3yr: 10.3%]
South Delta $474,055 (8.7%), [3yr: 18.6%]
Maple Ridge & Pitt Meadows $300,119 (-4.1%), [3yr: 6.1%]
North Vancouver $587,977 (5.1%), [3yr: 12.9%]
Port Coquitlam $381,775 (-4.3%), [3yr: 8.8%]
Port Moody $396,040 (2.4%), [3yr: 10.1%]
Richmond $471,145 (2.4%), [3yr: 17.9%]
Vancouver East $497,572 (-6.4%), [3yr: 13.6%]
Vancouver West $713,482 (2.2%), [3yr: 13.1%]

APARTMENT BENCHMARK PRICES

Greater Vancouver $374,686 (1.5%), [3yr: 12%]
Burnaby $337,427 (1.5%), [3yr: 12.9%]
Coquitlam $281,690 (0%), [3yr: 8.1%]
South Delta $344,591 (-2.1%), [3yr: 11.1%]
Maple Ridge & Pitt Meadows $245,208 (-2.2%), [3yr: 7.9%]
New Westminster $283,464 (0.4%), [3yr: 10.6%]
North Vancouver $377,967 (0%), [3yr: 10.7%]
Port Coquitlam $247,065 (-2%), [3yr: 10.5%]
Port Moody $290,258 (0.1%), [3yr: 5.8%]
Richmond $317,401 (3.2%), [3yr: 13.1%]
Vancouver East $317,360 (-0.7%), [3yr: 16.9%]
Vancouver West $480,959 (3.4%), [3yr: 12.7%]
West Vancouver $578,213 (-4.5%), [3yr: -3.8%]

Vancouver real estate market heating up in hot summer

Wed, 02 Sep 2009 23:07:15 GMT

MARKET MOMENTUM CARRIES INTO AUGUST

VANCOUVER, B.C. – September 2, 2009 – The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver increased 119.5 per cent in August 2009 to 3,441 from the 1,568 sales recorded in August 2008 and increased 1.7 per cent compared to August 2007.

New listings for detached, attached and apartment properties increased 4.9 per cent to 4,544 in August 2009 compared to August 2008 when 4,331 new units were listed. Total active listings in Greater Vancouver currently sit at 11,937, down 33 per cent from August 2008.

“The return of confidence to our market has brought a high volume of home sales over the last few months and has also made determining home prices a little more challenging,” said Scott Russell, REBGV president. “The number of residential home sales this summer has been comparable to activity seen in the five years preceding 2008. While that’s great news, from the variations in activity we’re seeing across areas I’d say the market is still trying to find its own balance.”

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.4 per cent to $539,600 from $484,211. However, home prices compared to August 2008 levels are down 1.1 per cent.

Sales of detached properties in August 2009 increased 155.5 per cent to 1,367 from the 535 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 0.7 per cent from August 2008 to $732,656.

Sales of apartment properties increased 97.8 per cent last month to 1,464, compared to the 740 sales in August 2008. The benchmark price of an apartment property declined 1.4 per cent from August 2008 to $369,263.

Attached property sales in August 2009 increased 108.2 per cent to 610, compared with the 293 sales during the same month in 2008. The benchmark price of an attached unit declined 0.9 per cent between August 2008 and 2009 to $459,159.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $732,656 (-0.7%), [3yr: 12.1%]
Burnaby $718,410 (-1.6%), [3yr: 9.5%]
Coquitlam $635,519 (-4.8%), [3yr: 10%]
South Delta $620,308 (2.7%), [3yr: 4.7%]
Maple Ridge $430,970 (-1.6%), [3yr: 7.4%]
New Westminster $565,565 (3.6%), [3yr: 6.9%]
North Vancouver $861,962 (-0.7%), [3yr: 12.5%]
Pitt Meadows $478,553 (3.8%), [3yr: 8.1%]
Port Coquitlam $525,203 (0.3%), [3yr: 8.6%]
Port Moody $664,789 (-8.3%), [3yr: 7.1%]
Richmond $745,588 (-2.8%), [3yr: 16.5%]
Squamish $571,986 (1.1%), [3yr: 34.6%]
Sunshine Coast $411,836 (2.4%), [3yr: 9.9%]
Vancouver East $685,746 (3.2%), [3yr: 14%]
Vancouver West $1,410,989 (2.9%), [3yr: 21.8%]
West Vancouver $1,323,472 (-12.5%), [3yr: 2.3%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $459,159 (-0.9%), [3yr: 12.9%]
Burnaby $452,405 (-2.2%), [3yr: 14.7%]
Coquitlam $396,554 (-4.3%), [3yr: 7.2%]
South Delta $453,079 (3.6%), [3yr: 15.4%]
Maple Ridge & Pitt Meadows $298,480 (-3.4%), [3yr: 5%]
North Vancouver $566,875 (-1.1%), [3yr: 9.1%]
Port Coquitlam $380,162 (-1.6%), [3yr: 11.1%]
Port Moody $385,972 (-1%), [3yr: 7.3%]
Richmond $463,364 (1.7%), [3yr: 16.3%]
Vancouver East $510,125 (-3.9%), [3yr: 18.7%]
Vancouver West $708,540 (1.7%), [3yr: 18.6%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $369,263 (-1.4%), [3yr: 11.4%]
Burnaby $331,723 (-3.2%), [3yr: 10.9%]
Coquitlam $272,774 (-5.8%), [3yr: 7.3%]
South Delta $336,585 (0.8%), [3yr: 14.3%]
Maple Ridge & Pitt Meadows $234,510 (-9.6%), [3yr: -1.3%]
New Westminster $278,471 (-5.4%), [3yr: 9.7%]
North Vancouver $377,240 (1.8%), [3yr: 10.3%]
Port Coquitlam $237,861 (-7%), [3yr: 7.8%]
Port Moody $287,763 (-4.4%), [3yr: 5.8%]
Richmond $313,953 (0%), [3yr: 14.1%]
Vancouver East $316,866 (-2.7%), [3yr: 19.1%]
Vancouver West $475,583 (1.4%), [3yr: 12%]
West Vancouver $535,254 (-15.5%), [3yr: -8.3%]

Vancouver real estate market very busy and prices recovering

Thu, 06 Aug 2009 19:19:12 GMT

The Real Estate Board of Greater Vancouver has released the statistics package for July 2009

STRONG SPRING MARKET CARRIES INTO SUMMER MONTHS

VANCOUVER, B.C. – August 5, 2009 – 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 property sales in Greater Vancouver totalled 4,114 in July 2009, 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 of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 9.2 per cent to $528,821 from $484,211. However, home prices compared to July 2008 levels are down 5 per cent.

“Home sales this summer are seasonally higher than normal, which is due in large part to the price correction that has taken place in the last year and low interest rates,” Scott Russell, REBGV president said. “Although wellpriced listings and lower-to mid-range priced properties remain in the highest demand across Greater Vancouver, recent activity from first-time buyers is beginning to boost demand in the “move-up” segment of the market.”

New listings for detached, attached and apartment properties declined in Greater Vancouver, down 17.4 per cent to 5,041 in July 2009 compared to July 2008, when 6,104 new units were listed. At 12,482, the total number of property listings on the Multiple Listing Service® (MLS®) declined 5.8 per cent compared to last month and 34 per cent compared to July 2008.

“It is currently taking, on average, 48 days for a home to sell in the region. Today’s market activity differs by area and property type and it’s important to tap into local housing market expertise to understand why some properties are attracting multiple offers, while others are not moving,” Russell said.

July 2009 home sales declined 3.4 per cent compared to June 2009, but are up 89.2 per cent when measured against the 2,174 sales recorded in July 2008.

Sales of detached properties in July increased 95.2 per cent to 1,614 from the 827 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 5.5 per cent from July 2008 to $711,702. Since the beginning of the year, the benchmark price for detached properties in Greater Vancouver has increased 9.8 per cent.

Sales of apartment properties in July 2009 increased 76.8 per cent to 1,708, compared to 966 sales in July 2008. The benchmark price of an apartment property declined 4.3 per cent from July 2008 to $365,291. Since the beginning of the year, the benchmark price for apartment properties in Greater Vancouver has increased 9.6 per cent.

Attached property sales in July 2009 are up 107.9 per cent to792, compared with the 381 sales in July 2008. The benchmark price of an attached unit decreased 4.6 per cent between July 2008 and 2009 to $452,085. Since the beginning of the year, the benchmark price for attached properties in Greater Vancouver has increased 6.8 per cent.

Bright spots in Greater Vancouver in July 2009 compared to July 2008:

DETACHED:
Burnaby ..up 121.7 per cent (153 units sold from 69)
North Vancouver ....up 53.3 per cent (115 units sold from 75)
Maple Ridge/Pitt Meadows .....up 60 per cent (160 units sold from 100)
Richmond ..up 140.2 per cent (221 units sold from 92)
Vancouver East ..up 66.4 per cent (208 units sold from 125)
Port Coquitlam ....up 236.4 per cent (74 units sold from 22)
Vancouver West ..up 104.5 per cent (180 units sold from 88)
South Delta ....up 203.1 per cent (97 units sold from 32)
West Vancouver ....up 108.1 per cent (77 units sold from 37)
Sunshine Coast ......up 60.5 per cent (69 units sold from 43)
ATTACHED:
Burnaby ..up 123.3 per cent (134 units sold from 60)
Maple Ridge/Pitt Meadows ......up 77.7 per cent (64 units sold from 36)
North Vancouver .........up 70 per cent (51 units sold from 30)
Vancouver West .....up 110 per cent (105 units sold from 50)
Richmond ..up 152.1 per cent (179 units sold from 71)
Vancouver East ....up 195.8 per cent (71 units sold from 24)
Port Coquitlam ....up 117.6 per cent (37 units sold from 17)
Maple Ridge/Pitt Meadows ......up 77.7 per cent (64 units sold from 36)
Coquitlam ......up 88.2 per cent (64 units sold from 34)
APARTMENTS:
Burnaby ..up 72.8 per cent (235 units sold from 136)
North Vancouver ....up 47.9 per cent (105 units sold from 71)
Richmond ..up 85.5 per cent (230 units sold from 124)
Vancouver East ..up 64.2 per cent (179 units sold from 109)
Vancouver West .....up 94 per cent (584 units sold from 301)
New Westminster ....up 70.6 per cent (116 units sold from 68)
Coquitlam ......up 62.3 per cent (86 units sold from 53)
Port Moody/Belcarra ....up 138.1 per cent (50 units sold from 21)

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board's area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership 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.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $711,702 (-5.5%), [3yr: 10.4%]
Burnaby $718,626 (0.3%), [3yr: 8.7%]
Coquitlam $606,886 (-12.4%), [3yr: 4.8%]
South Delta $594,002 (-7.1%), [3yr: 2.9%]
Maple Ridge $423,883 (-8.6%), [3yr: 5.5%]
New Westminster $576,616 (0.3%), [3yr: 15.4%]
North Vancouver $838,416 (-5.2%), [3yr: 11.6%]
Pitt Meadows $504,449 (-1.1%), [3yr: 16.9%]
Port Coquitlam $508,440 (-8%), [3yr: 10.4%]
Port Moody $694,117 (-9.4%), [3yr: 21.3%]
Richmond $737,060 (-4.3%), [3yr: 15.8%]
Squamish $506,529 (-21.6%), [3yr: 28.2%]
Sunshine Coast $415,172 (-1.3%), [3yr: 7.9%]
Vancouver East $661,563 (-1.9%), [3yr: 12.5%]
Vancouver West $1340,352 (-3.6%), [3yr: 17.5%]
West Vancouver $1207,527 (-14.3%), [3yr: -5.6%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $452,085 (-4.6%), [3yr: 11.8%]
Burnaby $448,612 (-2.6%), [3yr: 11.1%]
Coquitlam $394,134 (-6.6%), [3yr: 7.9%]
South Delta $462,649 (-1.8%), [3yr: 21.8%]
Maple Ridge & Pitt Meadows $295,829 (-8%), [3yr: 5.2%]
North Vancouver $559,041 (-6.4%), [3yr: 7.3%]
Port Coquitlam $374,200 (-5.4%), [3yr: 6.3%]
Port Moody $373,354 (-5.1%), [3yr: 6.6%]
Richmond $451,061 (-3.6%), [3yr: 14.9%]
Vancouver East $498,824 (-1.5%), [3yr: 18.7%]
Vancouver West $699,385 (-4.5%), [3yr: 18.2%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $365,291 (-4.3%), [3yr: 11%]
Burnaby $330,433 (-3.5%), [3yr: 12.9%]
Coquitlam $268,237 (-7.4%), [3yr: 5.5%]
South Delta $332,475 (-7.8%), [3yr: 14.5%]
Maple Ridge & Pitt Meadows $233,350 (-10.4%), [3yr: 2.1%]
New Westminster $275,503 (-7.7%), [3yr: 9.3%]
North Vancouver $365,460 (-6.1%), [3yr: 8.1%]
Port Coquitlam $240,309 (-5.7%), [3yr: 11.4%]
Port Moody $291,319 (-3.4%), [3yr: 8.6%]
Richmond $310,185 (-2.6%), [3yr: 14.1%]
Vancouver East $314,280 (-3.7%), [3yr: 17.4%]
Vancouver West $469,550 (-2.6%), [3yr: 11.2%]
West Vancouver $557,445 (-15.7%), [3yr: -9.2%]

June Statistics

Mon, 06 Jul 2009 19:03:03 GMT

MARKET CONDITIONS DRIVE STRONG JUNE HOUSING SALES
VANCOUVER, B.C. – July 3, 2009 – 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 just short of the record-breaking 4,333 sales which occurred in June 2005.

New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.

“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said.

“Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.”

Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008.

The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008.

The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880.

The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $701,384 (-8.4%), [3yr: 8.1%]
Burnaby $711,613 (-5.9%), [3yr: 8.8%]
Coquitlam $599,624 (-12.1%), [3yr: 5.5%]
South Delta $614,343 (-7.9%), [3yr: 5.3%]
Maple Ridge $418,579 (-8.3%), [3yr: 3.6%]
New Westminster $555,206 (-7.2%), [3yr: 7.6%]
North Vancouver $811,594 (-9.2%), [3yr: 7%]
Pitt Meadows $461,006 (-8.6%), [3yr: 9%]
Port Coquitlam $486,177 (-7.8%), [3yr: 4.5%]
Port Moody $691,684 (-15.1%), [3yr: 3.8%]
Richmond $714,054 (-8.1%), [3yr: 12.4%]
Squamish $515,685 (-12.8%), [3yr: 23%]
Sunshine Coast $403,043 (-7%), [3yr: 3.9%]
Vancouver East $656,388 (-5.2%), [3yr: 9.3%]
Vancouver West $1320,249 (-9.3%), [3yr: 17.2%]
West Vancouver $1249,332 (-12.5%), [3yr: -5.7%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $441,620 (-7.3%), [3yr: 9.7%]
Burnaby $442,518 (-4.8%), [3yr: 10.8%]
Coquitlam $386,431 (-11.1%), [3yr: 5.6%]
South Delta $451,920 (-0.6%), [3yr: 21.9%]
Maple Ridge & Pitt Meadows $287,770 (-10.2%), [3yr: 4.2%]
North Vancouver $552,010 (-9.2%), [3yr: 9.7%]
Port Coquitlam $374,162 (-4.5%), [3yr: 8.6%]
Port Moody $365,937 (-9.4%), [3yr: 3.8%]
Richmond $439,930 (-6.9%), [3yr: 12.4%]
Vancouver East $488,007 (-4.7%), [3yr: 15.3%]
Vancouver West $664,473 (-7.7%), [3yr: 9.3%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $356,880 (-8.2%), [3yr: 9.8%]
Burnaby $322,777 (-6.8%), [3yr: 12.6%]
Coquitlam $268,410 (-9.4%), [3yr: 7.3%]
South Delta $319,328 (-9.6%), [3yr: 11.3%]
Maple Ridge & Pitt Meadows $233,481 (-13.3%), [3yr: 7.9%]
New Westminster $267,944 (-10.7%), [3yr: 3.7%]
North Vancouver $355,098 (-8.1%), [3yr: 7.8%]
Port Coquitlam $234,397 (-11.2%), [3yr: 8.9%]
Port Moody $287,241 (-7.4%), [3yr: 5.9%]
Richmond $300,678 (-6.6%), [3yr: 11.9%]
Vancouver East $310,760 (-7%), [3yr: 14.9%]
Vancouver West $458,091 (-7.3%), [3yr: 9.3%]
West Vancouver $527,965 (-25.8%), [3yr: 0.6%]

May 2009 real estate statistics

Wed, 03 Jun 2009 17:50:52 GMT

INCREASED DEMAND STEADIES HOUSING MARKET IN GREATER VANCOUVER VANCOUVER, B.C. – June 2, 2009 – A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.
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 prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”
New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.
Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.
Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.
Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.

Bright spots in the market:

Detached:
Burnaby up 48.9 per cent (140 units sold from 94)
Maple Ridge/Pitt Meadows up 13.4 per cent (144 units sold from 127)
North Vancouver up 31.4 per cent (134 units sold from 102)
Port Moody/Belcarra up 52.6 per cent (29 units sold from 19)
Richmond up 14.0 per cent (170 units sold from 142)
Vancouver East up 11.1 per cent (180 units sold from 162)
Vancouver West up 63.4 per cent (232 units sold from 142)

Attached:
Burnaby up 31.5 per cent (96 units sold from 73)
Maple Ridge/Pitt Meadows up 43.8 per cent (46 units sold from 32)
North Vancouver up 31.8 per cent (58 units sold from 44)
Vancouver West up 54.5 per cent (102 units sold from 66)

Apartments:
Burnaby up 32.6 per cent (187 units sold from 141)
North Vancouver up 22.6 per cent (103 units sold from 84)
Richmond up 27.4 per cent (200 units sold from 157)
Vancouver East up 28.7 per cent (139 units sold from 108)
Vancouver West up 25.4 per cent (529 units sold from 422)

Below are the benchmark prices with the percentage change since last year in brackets and the 3 year change in square brackets.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $680,320 (-11.8%), [3yr: 7%]
Burnaby $697,264 (-9.9%), [3yr: 6.2%]
Coquitlam $602,275 (-10%), [3yr: 9.4%]
South Delta $612,292 (-8.8%), [3yr: 7%]
Maple Ridge $409,941 (-10.8%), [3yr: 4.1%]
New Westminster $535,658 (-11.7%), [3yr: 10.4%]
North Vancouver $782,117 (-15.5%), [3yr: 4.2%]
Pitt Meadows $474,885 (-4%), [3yr: 16.4%]
Port Coquitlam $488,845 (-9.8%), [3yr: 3.7%]
Port Moody $647,385 (-15.5%), [3yr: 11.7%]
Richmond $691,703 (-13.4%), [3yr: 9.5%]
Squamish $483,189 (-17.9%), [3yr: 20.1%]
Sunshine Coast $398,717 (-7.8%), [3yr: 6.4%]
Vancouver East $619,821 (-10.9%), [3yr: 4.4%]
Vancouver West $1273,131 (-10%), [3yr: 14%]
West Vancouver $1,161,447 (-22.6%), [3yr: -3.6%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $435,848 (-9%), [3yr: 9.9%]
Burnaby $432,829 (-5.8%), [3yr: 11.3%]
Coquitlam $374,009 (-13.1%), [3yr: 4%]
South Delta $445,809 (-5.4%), [3yr: 27.9%]
Maple Ridge & Pitt Meadows $292,194 (-8.5%), [3yr: 8.8%]
North Vancouver $543,910 (-9.6%), [3yr: 7.1%]
Port Coquitlam $367,234 (-7%), [3yr: 7%]
Port Moody $358,184 (-14.9%), [3yr: 2.8%]
Richmond $435,888 (-7.3%), [3yr: 12.1%]
Vancouver East $475,080 (-9.7%), [3yr: 19.5%]
Vancouver West $659,323 (-11.3%), [3yr: 7.9%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $349,987 (-10.2%), [3yr: 8.8%]
Burnaby $313,575 (-10.2%), [3yr: 9.4%]
Coquitlam $253,659 (-14.9%), [3yr: 1.2%]
South Delta $331,394 (-8%), [3yr: 18.1%]
Maple Ridge & Pitt Meadows $244,047 (-7.3%), [3yr: 15.7%]
New Westminster $269,719 (-11.3%), [3yr: 11.2%]
North Vancouver $345,113 (-14.3%), [3yr: 5.7%]
Port Coquitlam $233,101 (-12.4%), [3yr: 10.5%]
Port Moody $285,335 (-6.3%), [3yr: 7%]
Richmond $296,209 (-8.9%), [3yr: 10.8%]
Vancouver East $306,542 (-8.3%), [3yr: 15.1%]
Vancouver West $444,076 (-9.6%), [3yr: 7.7%]
West Vancouver $599,698 (-5.7%), [3yr: -1.3%]

April Real Estate Statistics

Wed, 06 May 2009 21:31:10 GMT

This is my monthly look at the real estate market. Below is the official report from the Real Estate Board of Greater Vancouver.

BUYER ACTIVITY BRINGS GREATER STABILITY TO THE HOUSING MARKET

VANCOUVER, B.C. . May 4, 2009 .
With more buyers and fewer homes for sale in recent months, the Greater Vancouver housing market has entered a more moderate and balanced state.

For the sixth consecutive month, new listings for detached, attached and apartment properties declined in Greater Vancou- ver, down 33.7 per cent to 4,649 in April 2009 compared to April 2008, when 7,010 new units were listed. The total number of property listings on the Multiple Listing Service® (MLS®), while slightly down compared to last month, remains unchanged compared to the same period in 2008.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 2,963 in April 2009, a decline of eight per cent from the 3,218 sales recorded in April 2008, and an increase of 31 per cent compared to last month. “We’re seeing greater balance in the housing market, as evidenced by a strong sales to active listings ratio of over 19 per cent,” Scott Russell, REBGV president said. “The result is a relatively stable market in which homes are being realistically priced.”

“The bridge between buyer demand and housing supply is continuing to narrow, which, as we see, helps bring stability to home prices,” he said. “The trends in our housing market over the last couple of months offer a much more comfortable, historically normal set of conditions”.

Sales of detached properties declined eight per cent to 1,190 from the 1,293 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 12.2 per cent from April 2008 to $675,268.

Sales of apartment properties in April 2009 declined 10.5 per cent to 1,179, compared to 1,317 sales in April 2008. The benchmark price of an apartment property declined 12.6 per cent from April 2008 to $340,203.

Attached property sales in April 2009 are down 2.3 per cent to 594, compared with the 608 sales in April 2008. The bench- mark price of an attached unit decreased 9.7 per cent between April 2008 and 2009 to $431,759.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

The top percentage price rise over the year is shown in bold. I have also marked the biggest fall in red.

The story is still of price drops pretty much across the board, which is no surprise. In homes (detached) West Vancouver did the worst and Pitt Meadows did the best - even edging into positive territory.

In attached properties (townhouses), South Delta did best, with Port Moody bringing up the rear.

And in apartments, where over-supply is most in evidence, prices continue to fall and not much honour is found in being the best (Port Moody) versus the worst (Coquitlam).

The increase in sales volumes that we have seen over the last month is a sure sign that buyers are taking advantage of these falling prices and the record low mortgage rates are an added incentive.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $675,268 (-12.5%), [3yr: 8.7%]
Burnaby $670,637 (-12.9%), [3yr: 6.2%]
Coquitlam $590,718 (-11.2%), [3yr: 10.2%]
South Delta $603,815 (-11.7%), [3yr: 9.8%]
Maple Ridge $407,401 (-11.9%), [3yr: 5.8%]
New Westminster $537,714 (-8.7%), [3yr: 8.8%]
North Vancouver $782,388 (-14.3%), [3yr: 6.7%]
Pitt Meadows $520,244 (8.2%), [3yr: 31.3%]
Port Coquitlam $499,094 (-9.2%), [3yr: 10.9%]
Port Moody $779,571 (-4.2%), [3yr: 46.2%]
Richmond $682,124 (-11.4%), [3yr: 11%]
Squamish $514,325 (-13.1%), [3yr: 24.7%]
Sunshine Coast $434,597 (1.4%), [3yr: 16.4%]
Vancouver East $608,174 (-12.1%), [3yr: 5.6%]
Vancouver West $1,237,674 (-14.4%), [3yr: 11%]
West Vancouver $1,126,620 (-29.2%), [3yr: -6.1%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $431,759 (-9.7%), [3yr: 13.6%]
Burnaby $425,994 (-7.5%), [3yr: 12.6%]
Coquitlam $380,312 (-11%), [3yr: 9%]
South Delta $450,297 (-3.8%), [3yr: 26.9%]
Maple Ridge & Pitt Meadows $292,721 (-8.6%), [3yr: 14.6%]
North Vancouver $529,314 (-12.2%), [3yr: 10.3%]
Port Coquitlam $365,907 (-9.5%), [3yr: 7.7%]
Port Moody $359,421 (-13.5%), [3yr: 11.5%]
Richmond $429,472 (-8.1%), [3yr: 13.1%]
Vancouver East $477,690 (-10%), [3yr: 18.5%]
Vancouver West $641,206 (-12.2%), [3yr: 18.9%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $340,203 (-12.6%), [3yr: 9.9%]
Burnaby $307,761 (-11.7%), [3yr: 12.5%]
Coquitlam $253,532 (-15.6%), [3yr: 7.4%]
South Delta $317,317 (-12.9%), [3yr: 16.4%]
Maple Ridge & Pitt Meadows $231,435 (-12.5%), [3yr: 18.4%]
New Westminster $267,428 (-11%), [3yr: 12%]
North Vancouver $339,761 (-13.3%), [3yr: 5.5%]
Port Coquitlam $225,927 (-13.3%), [3yr: 11.7%]
Port Moody $278,878 (-10.7%), [3yr: 6.6%]
Richmond $285,925 (-11.4%), [3yr: 10.3%]
Vancouver East $294,674 (-11.1%), [3yr: 14.2%]
Vancouver West $430,318 (-12.9%), [3yr: 8.6%]
West Vancouver $554,780 (-17.6%), [3yr: 2.6%]

Vancouver real estate statistics for March 2009

Thu, 02 Apr 2009 23:56:54 GMT

The Metro Vancouver housing market experienced a movement away from volatility and toward stability to start the spring season.

Home sales in March 2009 returned to levels witnessed at the beginning of the decade, with 2,265 sales recorded across Metro Vancouver for the month, a 53 per cent increase over February but a 24.4 per cent decrease over March 2008, when 2,997 sales were recorded.

Since 1999, March sales have increased 31 per cent, on average, over the month of February. March 2009 marks the second consecutive month that sales have outperformed the ten-year average for this month-over-month comparison.

"There's more confidence in the housing market today than we were seeing late last year. Sales activity is rising to more typical levels given the season, and the number of homes being listed for sale is levelling off",. said Scott Russell, president of the Real Estate Board of Greater Vancouver (REBGV).

New residential listings on the MLS® declined 22 per cent in March 2009 to 4,385 compared to March 2008. This is the ! fth month in a row that new listings have decreased year-over-year and the third consecutive month where those declines exceeded 20 per cent.

Despite these trends, total active listings at the end of March 2009 had still reached 14,579, a 19 per cent increase compared to the end of March 2008.

"REALTORS® are seeing an increasing level of interest from first-time buyers who are attracted to low interest rates, good supply of housing, greater affordability, and a considerably lower overall cost of servicing a mortgage compared to recent years",. Russell said.

Sales of detached properties in March 2009 declined 19.6 per cent to 897 from the 1,116 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 15.1 per cent from March 2008 to $649,342.

Sales of apartment properties declined 28.8 per cent last month to 976, compared to the 1,370 sales in March 2008. The benchmark price of an apartment property declined 13.5 per cent from March 2008 to $337,099.

Attached property sales in March 2009 decreased 23.3 per cent to 392, compared with the 511 sales during the same month in 2008. The benchmark price of an attached unit declined 11.2 per cent between March 2008 and 2009 to $420,563.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

The top percentage price rise over the year is shown in bold. I have also marked the biggest fall in red.

The story is still of price drops across the board, which is no surprise. In homes (detached) Port Moody did the worst and it’s fellow tri-city, Port Coquitlam did the best.

In attached properties (townhouses), Port Coquitlam also did best, with North Vancouver bringing up the rear.

And in apartments, we see the third tri-city, Coquitlam, make an entrance as the worst contender. Far away to the south, South Delta fared best of an admittedly sorry bunch.

However sorry is a relative word. Buyers looking at more affordable rates and falling prices are happier than they have been in a long time.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $649,342 (-15.1%), [3yr: 6.4%]
Burnaby $644,100 (-15.4%), [3yr: 5.8%]
Coquitlam $609,883 (-8.2%), [3yr: 15.1%]
South Delta $585,171 (-12.9%), [3yr: 5.6%]
Maple Ridge $400,949 (-12.6%), [3yr: 4.9%]
New Westminster $514,354 (-17.2%), [3yr: 3.9%]
North Vancouver $744,495 (-19.8%), [3yr: 0.5%]
Pitt Meadows $426,733 (-13%), [3yr: 7.7%]
Port Coquitlam $497,902 (-5.9%), [3yr: 12.5%]
Port Moody $469,537 (-34.8%), [3yr: -19.4%]
Richmond $665,759 (-12.3%), [3yr: 12.2%]
Squamish $530,025 (-8.5%), [3yr: 33.4%]
Sunshine Coast $363,600 (-16.5%), [3yr: -0.5%]
Vancouver East $610,943 (-11.3%), [3yr: 8.6%]
Vancouver West $1127,017 (-22.2%), [3yr: 6.4%]
West Vancouver $1109,124 (-25.3%), [3yr: -9.2%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $420,563 (-11.2%), [3yr: 11.9%]
Burnaby $421,421 (-8.3%), [3yr: 14.3%]
Coquitlam $370,373 (-15.6%), [3yr: 5.9%]
South Delta $392,566 (-10.4%), [3yr: 10.1%]
Maple Ridge & Pitt Meadows $284,959 (-10.1%), [3yr: 12%]
North Vancouver $516,538 (-17%), [3yr: 6.3%]
Port Coquitlam $371,265 (-2.8%), [3yr: 13.4%]
Port Moody $353,607 (-14.4%), [3yr: 8.7%]
Richmond $419,624 (-9.1%), [3yr: 14.3%]
Vancouver East $444,199 (-15.2%), [3yr: 13.7%]
Vancouver West $624,746 (-12.2%), [3yr: 12.9%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $337,099 (-13.5%), [3yr: 10.5%]
Burnaby $302,832 (-12%), [3yr: 11.2%]
Coquitlam $250,614 (-16.7%), [3yr: 9.3%]
South Delta $342,913 (-5%), [3yr: 25.9%]
Maple Ridge & Pitt Meadows $233,053 (-10.3%), [3yr: 16.8%]
New Westminster $263,500 (-12.8%), [3yr: 16.7%]
North Vancouver $347,337 (-13.5%), [3yr: 9.7%]
Port Coquitlam $227,058 (-12.6%), [3yr: 14.7%]
Port Moody $272,946 (-10.3%), [3yr: 4.1%]
Richmond $281,745 (-12.6%), [3yr: 8.1%]
Vancouver East $296,377 (-11.6%), [3yr: 17.1%]
Vancouver West $422,264 (-14.9%), [3yr: 8.1%]
West Vancouver $534,084 (-14.8%), [3yr: 4.4%]

Vancouver Real Estate Board Statistics for February 2009

Tue, 03 Mar 2009 22:15:56 GMT

The Real Estate Board of Greater Vancouver’s monthly report on the real estate market is shown below.

PROPERTY LISTINGS DECREASE, AS FEBRUARY SALES IMPROVE

VANCOUVER, B.C. – March 3, 2008 – Residential housing sales in Greater Vancouver rose 94 per cent in February compared to the month before, with 1,480 sales registered in February compared to 762 sales in January, which was the slowest month for housing sales in 25 years. Over the past 10 years, February sales have typically surpassed January by an average increase of 53 per cent.

At the same time, new MLS® listings for residential properties continued to decrease for the fourth month in a row. New listings decreased 25.6 per cent in February compared to the previous year; 20 per cent in January; 8.6 per cent in December; and 10 per cent in November.

“There are terrific opportunities out there right now, but with property listings continuing to decrease, those opportunities may be available only for a brief window of time,” said Dave Watt, president of the Real Estate Board of Greater Vancouver (REBGV).

REBGV reports that year-over-year property sales in Greater Vancouver declined 44.7 per cent in February 2009 from the 2,676 sales recorded in February 2008. Year-over-year, those are the lowest sales fi gures for February since the mid-1980s.

“REALTORS® are reporting more activity compared to recent months as people begin to see whether their position in the housing market has strengthened as a result of falling interest rates and improved affordability,” Watt says. “It took, on average, 67 days to sell a home in Greater Vancouver in February, seven days less than last month, but behind the seller’s market of last February when the average stood at 33 days.

Sales of detached properties in February 2009 declined 41 per cent to 587 from the 995 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 14.2 per cent from February 2008 to $653,452.

Sales of apartment properties declined 45.6 per cent last month to 650, compared to the 1,197 sales in February 2008. The benchmark price of an apartment property declined 13.9 per cent from February 2008 to $333,143.

Attached property sales in February 2009 decreased 49.8 per cent to 243, compared with the 484 sales during the same month in 2008. The benchmark price of an attached unit declined 9.7 per cent between Februarys 2008 and 2009 to $426,268.

New listings for detached, attached and apartment properties declined 25.6 per cent to 3,916 in February 2009 compared to February 2008, when 5,260 new units were listed.

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

The top percentage price rise (or lowest fall) over the year is shown in bold. I have also marked the biggest fall in red.

Detached homes saw prices fall across the board with Port Moody doing the best of a sorry bunch..

South Delta was the exception in both apartments and attached homes, showing a small rise. Again other areas saw percentage decreases.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $653,452 (-14.2%), [3yr: 9.1%]
Burnaby $630,681 (-17.4%), [3yr: 7%]
Coquitlam $595,735 (-8.8%), [3yr: 15.1%]
South Delta $580,820 (-11.8%), [3yr: 8.9%]
Maple Ridge $390,847 (-14.7%), [3yr: 4.2%]
New Westminster $509,460 (-13.9%), [3yr: 0.2%]
North Vancouver $739,856 (-16.1%), [3yr: 1.8%]
Pitt Meadows $378,013 (-26.1%), [3yr: -7.2%]
Port Coquitlam $485,883 (-12.7%), [3yr: 13.9%]
Port Moody $678,575 (-6%), [3yr: 26.3%]
Richmond $679,344 (-12.2%), [3yr: 16.2%]
Squamish $530,479 (-8.9%), [3yr: 23.3%]
Sunshine Coast $346,736 (-19%), [3yr: -5.7%]
Vancouver East $610,052 (-11.1%), [3yr: 10.7%]
Vancouver West $1170,886 (-19.4%), [3yr: 11.1%]
West Vancouver $1232,469 (-16.5%), [3yr: 4.3%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $426,268 (-9.7%), [3yr: 17.1%]
Burnaby $419,229 (-9.3%), [3yr: 16.5%]
Coquitlam $387,376 (-9.1%), [3yr: 13.3%]
South Delta $479,911 (5.2%), [3yr: 41.7%]
Maple Ridge & Pitt Meadows $281,123 (-9.3%), [3yr: 12.5%]
North Vancouver $535,646 (-13.6%), [3yr: 14.9%]
Port Coquitlam $361,644 (-8.2%), [3yr: 12.9%]
Port Moody $360,970 (-11.5%), [3yr: 15%]
Richmond $418,528 (-9.2%), [3yr: 18.2%]
Vancouver East $460,242 (-8.8%), [3yr: 22.6%]
Vancouver West $635,072 (-12.3%), [3yr: 19.5%]

APARTMENT BENCHMARK PRICES

Apartment Greater Vancouver $333,143 (-13.9%), [3yr: 12.1%]
Burnaby $301,776 (-11.9%), [3yr: 13.8%]
Coquitlam $246,192 (-19.1%), [3yr: 7.5%]
South Delta $321,342 (-5.7%), [3yr: 18.7%]
Maple Ridge & Pitt Meadows $233,421 (-10.5%), [3yr: 19.7%]
New Westminster $257,589 (-14.4%), [3yr: 13.9%]
North Vancouver $332,650 (-15.6%), [3yr: 7.4%]
Port Coquitlam $225,337 (-12.9%), [3yr: 15.8%]
Port Moody $254,736 (-16.5%), [3yr: 2.3%]
Richmond $278,019 (-11.4%), [3yr: 13.4%]
Vancouver East $286,000 (-13.2%), [3yr: 21.2%]
Vancouver West $422,456 (-15.2%), [3yr: 9.4%]
West Vancouver $571,909 (-5.4%), [3yr: 17.6%]

Market snapshot

Thu, 26 Feb 2009 04:12:41 GMT

Market Snapshot

Just had a quick look at sales in the region (Real Estate Board of Greater Vancouver). Over the last 30 days there were a total of 1,122 sales of all types (apartments, houses, townhouses and even manufactured homes).

On average these were listed for 67 days.

In terms of the most active areas these were:

Vancouver West (296)
Richmond (162)
Burnaby (128)
Vancouver East (119)
North Vancouver (72)

What of prices?

Well looking at the sold price versus the list price tells a story of buyers squeezing the sellers across the board.

For houses there was an average $72,300 off the list price. For apartments this was $22,978 and for townhouse $21,901. Even this might be understating the ability of buyers to get bargains - 40% of listings had already been reduced prior to sale.

I look forward to seeing the board's official statistics.

Weekly view

Thu, 26 Feb 2009 03:38:47 GMT

The real estate board's statistics will be out next week for the period of February. It has already been widely reported that sales volumes are running at double that of last month. Not necessarily a surprise as January is always slower and our unusually snowy month did not help. But still it is good to see more activity in the market.

We have had some activity on our apartment with an offer that came in but ended up not going anywhere. This was because the buyers were looking for an unrealistic discount off the asking price. Big discounts are possible but only where the place is unrealistically priced in the first place.

We still have a lot of buyers eyeballing the market and waiting for the right place to come up. I would like to think that better weather will bring more listings and offer better opportunity, but today we had snow!

Buyers preparing to take advantage of lower prices and rates

Tue, 17 Feb 2009 18:45:30 GMT

This morning's Vancouver Sun has an article that suggests buyers are poised to take advantage of lower prices and lower interest rates.
http://tinyurl.com/cvakw3

I quote a small part of the article - where Cameron Muir the economist for the BCREA talks about the factors that are encouraging buyers to look at the market.

"He [Cameron Muir] said the benchmark price for a two-bedroom condo in Metro Vancouver was $334,602 in January, 11.5 per cent less than the $378,336 the same condo would have sold for 12 months earlier. A typical posted five-year fixed-term mortgage stood at 5.79 per cent in January, much lower than a similar mortgage rate of 7.39 per cent the previous January.

Therefore, he said, a condo with a 10-per-cent down payment (on a 25-year amortization) would have resulted in a monthly mortgage payment of $1,890 this January, nearly $600 less than the January 2008 mortgage payment of $2,468 (property taxes, maintenance fees and mortgage insurance fees not included).

On top of that, he said, there’s upward pressure on rents with the same two-bedroom condo renting in October 2008 for about $1,507 a month — a five-per-cent increase from October 2007."

In my earlier posts I mentioned my impression, from my own experience within my market, and how it seemed that the market was becoming more active. It seems that I am not alone in having that impression.

Mortgage brokers, apparently, are seeing lots of buyers getting pre-approved for mortgages. Since prices are most definitely down, and if rents are rising then the argument for first time buyers to get into the market makes sense.

We will see what the next few months bring in terms of sales and prices.

Small signs of market change

Fri, 06 Feb 2009 01:02:44 GMT

It is interesting to note from our personal experience that things do seem to be picking up. One of our buyers was considering making an offer on a townhouse in Kitsilano after seeing it at the first public open house. The next day when we checked the place over we found that it was already under offer. That kind of quick sale is something we were used to in a hot market.

Another client of mine is offering on an apartment in North Vancouver. Pitching the offer right is no longer something you can base on recent sales given there were only two equivalent properties sold in the last month. On the other hand my client is able to offer well below asking simply because there have been so few sales.

Vancouver Benchmark prices as at February 2009

Tue, 03 Feb 2009 23:11:05 GMT

METRO VANCOUVER BENCHMARK

The Vancouver Real Estate Board publishes a benchmark that tracks the price of a benchmark property across the region. There are three categories:

Detached
These are houses, sometimes called single family homes
Attached
This refers to townhouses and half duplexes.
Apartments
This means apartments within high or low rise buildings.

I have set out the benchmark prices across the region, with the annual percentage price rises in brackets and 3 year percentage rise in square brackets.

The top percentage price rise over the year is shown in bold. I have also marked the biggest fall in red.

Detached homes saw prices fall pretty much across the board, with Squamish and the Sunshine Coast being the main exceptions.

South Delta was the exception in both apartments and attached homes, showing a small rise. Again other areas saw percentage decreases.

DETACHED BENCHMARK PRICES

Detached Greater Vancouver $659,638 (-11.2%), [3yr: 12.9%]
Burnaby $652,089 (-11.4%), [3yr: 10.7%]
Coquitlam $593,987 (-9.9%), [3yr: 14.3%]
South Delta $660,478 (1.7%), [3yr: 25.9%]
Maple Ridge $408,206 (-10.8%), [3yr: 11.6%]
New Westminster $538,566 (-0.3%), [3yr: 10.9%]
North Vancouver $783,339 (-13.3%), [3yr: 9%]
Pitt Meadows $473,782 (4.2%), [3yr: 23%]
Port Coquitlam $505,488 (-8.1%), [3yr: 21.8%]
Port Moody $718,962 (13.4%), [3yr: 34.2%]
Richmond $649,909 (-9.9%), [3yr: 12.9%]
Squamish $543,788 (-4.2%), [3yr: 33.8%]
Sunshine Coast $363,529 (-13.8%), [3yr: 1.1%]
Vancouver East $592,138 (-11%), [3yr: 11.9%]
Vancouver West $1,134,773 (-19.3%), [3yr: 13.7%]
West Vancouver $1,166,637 (-21.7%), [3yr: 3.5%]

ATTACHED BENCHMARK PRICES

Attached Greater Vancouver $425,309 (-8.1%), [3yr: 19.3%]
Burnaby $397,357 (-11.6%), [3yr: 11.8%]
Coquitlam $381,560 (-9.4%), [3yr: 14.4%]
South Delta $381,656 (-16.2%), [3yr: 16.5%]
Maple Ridge & Pitt Meadows $296,543 (-5.9%), [3yr: 22.7%]
North Vancouver $536,610 (-9.3%), [3yr: 15.8%]
Port Coquitlam $371,926 (-5.1%), [3yr: 16.1%]
Port Moody $335,114 (-15.9%), [3yr: 9.3%]
Richmond $424,081 (-6.3%), [3yr: 21.6%]
Vancouver East $470,965 (-2.9%), [3yr: 34%]
Vancouver West $650,919 (-6.9%), [3yr: 25.2%]

APARTMENT BENCHMARK PRICES

Attached Greater Vancouver $425,309 (-8.1%), [3yr: 19.3%]
Burnaby $397,357 (-11.6%), [3yr: 11.8%]
Coquitlam $381,560 (-9.4%), [3yr: 14.4%]
South Delta $381,656 (-16.2%), [3yr: 16.5%]
Maple Ridge & Pitt Meadows $296,543 (-5.9%), [3yr: 22.7%]
North Vancouver $536,610 (-9.3%), [3yr: 15.8%]
Port Coquitlam $371,926 (-5.1%), [3yr: 16.1%]
Port Moody $335,114 (-15.9%), [3yr: 9.3%]
Richmond $424,081 (-6.3%), [3yr: 21.6%]
Vancouver East $470,965 (-2.9%), [3yr: 34%]
Vancouver West $650,919 (-6.9%), [3yr: 25.2%]