Page 1

News Release FOR IMMEDIATE RELEASE

Greater Vancouver home sales trend toward buyers’ market over summer VANCOUVER, B.C. - September 2, 2011 - August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years. “MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.” New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,685 in August. This represents a 24.9 per cent increase compared to August 2010 when 3,750 properties were listed for sale on the MLS® and an eight per cent decline compared to the 5,097 new listings reported in July 2011. Last month’s new listing total was the highest volume recorded for August in 16 years. At 15,437, the total number of residential property listings on the MLS® increased 1.4 per cent in August compared to July 2011 and rose 0.1 per cent compared to this time last year. The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010. “Year over year, prices are up. However, in the detached home category, benchmark prices have come down slightly in each of the past two months,” Setticasi said. “It’s important for people entering the market to understand that activity can differ significantly depending on the area and property type.” Sales of detached properties on the MLS® in August 2011 reached 1,020, an increase of 14.2 per cent from the 893 detached sales recorded in August 2010, and a 25.4 per cent decrease from the 1,367 units sold in August 2009. The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243. Sales of apartment properties reached 955 in August 2011, a 2.1 per cent increase compared to the 935 sales in August 2010, and a decrease of 34.8 per cent compared to the 1,464 sales in August 2009. The benchmark price of an apartment property increased 5.6 per cent from August 2010 to $407,457. Attached property sales in August 2011 totalled 403, a 7.8 per cent increase compared to the 374 sales in August 2010, and a 33.9 per cent decrease from the 610 attached properties sold in August 2009. The benchmark price of an attached unit increased 4.5 per cent between August 2010 and 2011 to $511,433. -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

August 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 % % % % $625,578 0.6% $628,917 264.2 8.5 14.7 29.7 163.2 $888,243 1.2% $896,270 262.3 11.7 20.4 35.9 162.9 $918,078 2.4% $925,600 270.2 13.2 25.8 40.0 172.2 $715,340 4.6% $722,162 251.6 6.5 7.2 23.9 149.3 $737,140 3.9% $733,432 240.9 4.2 22.0 24.4 136.1 $453,122 3.5% $452,297 206.7 1.8 3.4 12.9 104.0 $629,886 4.2% $636,765 259.6 9.2 15.4 19.1 148.0 $969,976 2.9% $960,871 242.3 10.3 11.7 26.6 148.0 $516,510 9.4% $544,482 212.0 -8.3 12.0 16.7 123.0 $579,563 5.8% $587,106 245.0 8.5 10.7 19.9 138.0 $750,240 13.6% $744,833 225.5 -5.9 3.5 20.9 140.9 $1,101,939 2.5% $1,087,654 325.3 22.4 43.7 72.2 225.3 $463,679 12.4% $505,942 176.1 -5.9 -18.0 9.1 92.0 $403,007 6.3% $412,844 229.3 2.4 0.2 7.6 124.0 $823,976 2.2% $839,283 279.1 13.1 24.0 36.9 178.8 $1,963,426 2.7% $2,025,543 325.8 19.6 43.1 69.5 227.5 $1,760,710 4.5% $1,761,292 259.4 26.7 16.4 36.1 155.3 $511,433 0.9% $519,589 248.1 4.5 10.4 25.8 142.9 $513,510 1.5% $513,215 257.2 5.1 11.0 30.2 158.3 $461,526 2.6% $462,172 249.0 5.2 11.4 24.7 148.6 $472,777 5.7% $474,994 253.2 4.7 8.1 20.4 155.8 $306,909 2.7% $315,091 212.9 1.1 -0.7 8.0 114.0 $626,022 3.4% $643,826 245.0 6.2 9.2 20.4 152.4 $402,277 3.1% $411,785 221.2 -1.3 4.1 17.6 119.2 $388,376 3.8% $403,154 231.8 -1.7 -0.4 7.9 144.6 $549,175 1.7% $557,296 264.8 7.5 20.5 37.9 157.2 $554,336 3.7% $565,539 259.2 2.5 4.4 29.0 150.2 $798,081 3.3% $810,359 284.8 6.5 14.6 33.6 178.9 $407,457 0.6% $405,988 265.0 5.6 8.8 22.9 162.1 $373,193 1.1% $370,074 279.0 6.2 8.9 24.7 171.0 $292,976 2.2% $294,632 249.8 1.6 1.2 15.2 156.0 $367,928 4.2% $374,042 239.6 3.4 10.2 25.0 125.7 $246,688 3.4% $243,314 262.0 0.5 -4.9 3.8 135.9 $307,759 2.1% $306,630 250.0 2.7 4.5 21.3 151.9 $395,308 2.4% $391,359 251.5 3.4 6.6 15.6 147.3 $241,912 2.6% $247,078 283.3 -3.3 -5.5 9.6 168.1 $309,749 3.4% $308,942 264.3 5.4 2.9 13.9 149.2 $362,056 1.5% $361,438 294.3 7.3 15.3 31.6 191.4 $342,096 2.4% $341,753 280.1 5.3 5.1 28.6 175.6 $524,432 1.2% $522,492 266.8 6.7 11.9 23.5 162.3 $739,225 9.8% $712,251 265.2 21.2 16.8 26.6 165.0

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.


Aug 2011 Apr 2011 Dec 2010 Aug 2010 Apr 2010 Dec 2009

Dec 2008 Apartment

Aug 2008 Apr 2008 Dec 2007 Aug 2007

Attached

Apr 2007 Dec 2006 Aug 2006 Apr 2006 Dec 2005 Aug 2005

Detached

Apr 2005 Dec 2004 Aug 2004 Apr 2004 Dec 2003 Aug 2003 Apr 2003

Aug 2002 Apr 2002 Dec 2001 80

100

120

140

160

180

200

220

240

Aug 2001 260

Year 2001 average = 100

Dec 2002

280

C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS速 Housing

Apr 2009

Price Index

Price Index - Greater Vancouver 10 Year Trend

Aug 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

$342,000

$470,750

Attached

Apartment

$780,000

Detached

576

Attached

1,262

762

Detached

Apartment

$356,000

$490,000

Apartment

Attached

629

Attached

$888,000

966

Detached

Detached

$340,000

Apartment

1,344

$490,000

Attached

Apartment

$803,500

53

Attached

Detached

89

Detached

151

$357,000

Apartment

Apartment

$528,000

72

Attached

$875,500

95

Detached

Attached

$390,000

Apartment

Detached

$499,500

Attached

165

$917,000

Detached

Apartment

169

66

Apartment

96

Attached

Burnab y

Detached

Coquit lam $278,000

$468,000

$661,500

480

285

718

$288,500

$450,000

$710,000

503

423

975

$262,000

$465,950

$620,000

48

24

57

$280,000

$451,000

$698,000

62

46

100

$253,000

$437,000

$705,750

51

46

112

Delta South $327,000

$415,750

$635,000

119

62

339

$332,000

$448,500

$655,000

109

62

481

n/a

n/a

$642,000

14

6

37

n/a

n/a

$709,500

9

6

50

n/a

n/a

$670,000

18

11

48

Islands - Gulf n/a

n/a

$366,000

0

0

21

n/a

n/a

$620,500

0

1

20

n/a

n/a

n/a

0

0

4

n/a

n/a

n/a

0

0

2

n/a

n/a

n/a

0

0

2

$231,000

$308,000

$488,000

188

303

803

$214,410

$309,900

$484,250

198

358

821

n/a

$306,500

$466,993

10

32

84

$216,500

$314,633

$500,000

21

42

109

$214,450

$290,000

$495,329

24

31 66

6

23

$288,000

$423,000

$590,000

603

71

211

$299,000

$409,000

$619,950

626

101

245

$272,000

n/a

$534,250

53

5

26

$295,000

n/a

$657,000

69

13

28

$290,943

n/a

$619,900

Maple R id g e/Pitt M eadow s 108

$370,500

$599,000

$875,000

592

269

673

$365,000

$628,250

$920,000

619

264

891

$395,000

$563,000

$878,500

57

27

58

$363,000

n/a

$905,500

77

17

92

$355,000

$599,000

$880,000

63

23

73

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. Aug. 2010

Year-to-date

Jan. Aug. 2011

August 2010

July 2011

August 2011

Number of Sales

August 2011

2011

Port C oquitla m $237,750

$384,000

$530,000

237

171

317

$239,950

$385,000

$540,000

204

161

328

n/a

n/a

$555,000

19

13

26

$225,000

n/a

$570,000

21

17

40

$222,000

n/a

$526,000

23

15

26

$345,000

$455,444

$775,000

205

152

165

$335,000

$423,000

$832,000

195

161

169

$332,000

n/a

n/a

22

16

14

$346,000

n/a

n/a

21

8

13

n/a

$399,250

n/a

16

24 96

69

95

Richm ond $333,000

$489,000

$838,000

1,296

811

1,193

$353,000

$545,000

$992,500

1,174

770

1,329

$348,000

$484,000

$850,000

127

84

124

$355,800

$561,000

$945,000

135

88

123

$347,150

$530,000

$1,020,000

Port M oody/B elcarra 19

$261,500

$376,700

$492,000

50

78

125

$230,000

$350,000

$490,000

29

65

123

n/a

n/a

n/a

6

15

10

n/a

n/a

n/a

0

2

17

n/a

n/a

n/a

4

10

13

Squam ish

18

$228,000

$283,500

$410,000

35

40

356

$318,500

$267,500

$395,000

39

31

316

n/a

n/a

$381,000

4

4

43

n/a

n/a

$401,000

7

0

48

n/a

n/a

$399,000

2

2

39

Sunsh ine Co ast

8

er New W estmin st

Vanco uver E ast $326,700

$556,000

$742,000

872

311

1,178

$345,000

$600,000

$816,000

823

297

1,345

$333,000

$533,000

$740,000

75

22

131

$347,200

$586,750

$848,500

90

40

144

$355,000

$558,500

$830,000

69

23

148

Vanco uver W est $463,000

$780,000

$1,675,000

3,173

499

1,186

$489,000

$860,000

$2,060,000

3,155

557

1,579

$478,000

$773,000

$1,680,000

324

53

134

$490,000

$820,500

$2,037,500

341

62

139

$508,250

$938,800

$2,199,000

337

57

130

$697,000

$1,054,500

$1,475,000

110

54

481

$745,000

$1,100,000

$1,775,000

160

45

898

n/a

n/a

$1,605,000

10

4

46

n/a

n/a

$1,865,000

18

5

86

n/a

n/a

$2,090,000

14

2

80

8

53

101

66

n/a

n/a

n/a

15

16

10

n/a

n/a

n/a

4

14

13

n/a

n/a

n/a

3

18

$295,000

$515,000

$887,500

47

89

62

$242,500

$577,500

$837,500

Sound We s t V a ncouv er/How e

MLS速 SALES Facts

Whistl er/Pem berton n/a

9,269

3,771

8,590

n/a

9,231

4,026

10,552

n/a

935

374

893

n/a

1,040

432

1,099

n/a

955

403

1,020


% 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

51%

56%

Attached

Apartment

50%

Detached

1,030

Attached

2,497

1,509

Detached

Apartment

57%

60%

Apartment

62%

1,047

Attached

Attached

1,552

Detached

Detached

74%

Apartment

2,369

46%

Apartment

89%

Attached

114

Attached

Detached

100

Detached

205

56%

Apartment

Apartment

60%

121

Attached

46%

205

Detached

Attached

66%

Apartment

Detached

53%

Attached

293

53%

Detached

Apartment

258

124

Apartment

182

Attached

Burnab y

Detached

Coquit lam 43%

50%

45%

1,121

573

1,594

46%

67%

60%

1,086

632

1,635

53%

41%

42%

90

58

136

55%

58%

56%

113

80

179

45%

88%

61%

114

52

185

Delta South 60%

53%

54%

200

116

625

60%

63%

69%

181

98

699

70%

75%

84%

20

8

44

36%

40%

68%

25

15

74

75%

138%

75%

24

8

64

Islands - Gulf 0%

0%

14%

3

19

154

0%

n/a

16%

10

0

126

n/a

n/a

57%

0

0

7

n/a

n/a

15%

0

0

13

n/a

n/a

11%

0

0

18

37%

54%

46%

510

566

1,764

41%

61%

49%

480

588

1,670

15%

64%

55%

67

50

152

39%

74%

51%

54

57

212

44%

53%

53%

54

58

202

Maple R id g e/Pitt M eadow s 49%

76%

54%

1,232

93

394

54%

64%

67%

1,157

159

365

47%

63%

79%

112

8

33

50%

87%

80%

138

15

35

57%

43%

55%

116

14

42

* Year-to-date listings represent a cumulative total of listings rather than total active listings.

Year-to-date*

Jan. Aug. 2010

Year-to-date*

Jan. Aug. 2011

August 2010

July 2011

August 2011

Number of Listings

August 2011

2011

North Vanco uver 46%

57%

51%

1,288

475

1,311

50%

60%

65%

1,238

440

1,373

58%

73%

64%

98

37

91

53%

46%

69%

146

37

133

63%

61%

67%

100

38

109

Port C oquitla m 48%

51%

52%

498

334

612

40%

58%

62%

511

280

527

54%

27%

58%

35

48

45

40%

46%

74%

52

37

54

35%

60%

46%

66

25

56

Port M oody/B elcarra 39%

53%

45%

525

287

369

43%

51%

49%

449

317

346

50%

70%

56%

44

23

25

42%

16%

38%

50

50

34

40%

48%

46%

40

50

41

Richm ond 53%

60%

53%

2,459

1,354

2,266

50%

52%

46%

2,332

1,476

2,893

62%

68%

75%

205

124

165

48%

59%

42%

281

149

292

39%

42%

38%

244

165

251

Squam ish 34%

43%

37%

146

183

342

16%

41%

35%

181

159

348

60%

150%

36%

10

10

28

0%

11%

37%

27

19

46

25%

71%

39%

16

14

33

42%

46%

34%

84

87

1,044

30%

41%

33%

128

75

952

67%

67%

46%

6

6

93

47%

0%

43%

15

6

112

13%

50%

40%

15

4

97

Sunsh ine Co ast

18

54%

55%

51%

1,627

561

2,309

54%

62%

61%

1,521

478

2,196

60%

51%

77%

124

43

170

52%

70%

50%

173

57

287

41%

55%

52%

169

42

287

Vanco uver E ast

8

er New W estmin st

Vanco uver W est 46%

46%

51%

6,824

1,085

2,336

51%

56%

59%

6,172

1,001

2,654

53%

72%

68%

609

74

196

47%

67%

50%

724

93

279

54%

51%

48%

627

112

270

Sound 38%

49%

40%

290

110

1,197

56%

54%

60%

288

84

1,509

38%

40%

46%

26

10

99

72%

83%

53%

25

6

161

50%

33%

56%

28

6

144

We s t V a ncouv er/How e

MLS速 LISTINGS Facts

17%

29%

24%

275

310

263

19%

30%

28%

285

338

239

47%

47%

28%

32

34

36

11%

29%

33%

35

48

40

6%

58%

21%

52

31

38

Whistl er/Pem berton n/a

19,579

7,183

18,089

n/a

18,388

7,172

19,084

n/a

1,683

647

1,420

n/a

2,151

790

2,156

n/a

1,923

743

2,019


Listing & Sales Activity Summary Listings

Sales

1 Aug 2010

2 Jul 2011

3 Aug 2011

5 Aug 2010

6 Jul 2011

7 Aug 2011

100 114 205

205 121 293

182 124 258

-11.2 2.5 -11.9

89 53 151

95 72 165

96 66 169

1.1 -8.3 2.4

249 197 454

311 230 530

24.9 16.8 16.7

136 58 90

179 80 113

185 52 114

3.4 -35.0 0.9

57 24 48

100 46 62

112 46 51

12.0 0.0 -17.7

232 77 159

359 139 196

54.7 80.5 23.3

44 8 20

74 15 25

64 8 24

-13.5 -46.7 -4.0

37 6 14

50 6 9

48 11 18

-4.0 83.3 100.0

109 31 48

160 26 43

46.8 -16.1 -10.4

152 50 67

212 57 54

202 58 54

-4.7 1.8 0.0

84 32 10

109 42 21

108 31 24

-0.9 -26.2 14.3

286 101 56

340 121 80

18.9 19.8 42.9

91 37 98

133 37 146

109 38 100

-18.0 2.7 -31.5

58 27 57

92 17 77

73 23 63

-20.7 35.3 -18.2

245 80 194

318 81 250

29.8 1.3 28.9

33 8 112

35 15 138

42 14 116

20.0 -6.7 -15.9

26 5 53

28 13 69

23 6 66

-17.9 -53.8 -4.3

74 21 203

87 36 248

17.6 71.4 22.2

25 23 44

34 50 50

41 50 40

20.6 0.0 -20.0

14 16 22

13 8 21

19 24 16

46.2 200.0 -23.8

65 53 73

63 60 64

-3.1 13.2 -12.3

45 48 35

54 37 52

56 25 66

3.7 -32.4 26.9

26 13 19

40 17 21

26 15 23

-35.0 -11.8 9.5

115 56 69

103 52 64

-10.4 -7.1 -7.2

165 124 205

292 149 281

251 165 244

-14.0 10.7 -13.2

124 84 127

123 88 135

95 69 96

-22.8 -21.6 -28.9

370 280 422

376 243 370

1.6 -13.2 -12.3

93 6 6

112 6 15

97 4 15

-13.4 -33.3 0.0

43 4 4

48 0 7

39 2 2

-18.8 200.0 -71.4

142 16 18

140 7 18

-1.4 -56.3 0.0

28 10 10

46 19 27

33 14 16

-28.3 -26.3 -40.7

10 15 6

17 2 0

13 10 4

-23.5 400.0 400.0

43 37 15

41 22 10

-4.7 -40.5 -33.3

170 43 124

287 57 173

287 42 169

0.0 -26.3 -2.3

131 22 75

144 40 90

148 23 69

2.8 -42.5 -23.3

404 117 283

472 97 269

16.8 -17.1 -4.9

196 74 609

279 93 724

270 112 627

-3.2 20.4 -13.4

134 53 324

139 62 341

130 57 337

-6.5 -8.1 -1.2

403 196 1112

482 189 1052

19.6 -3.6 -5.4

36 34 32

40 48 35

38 31 52

-5.0 -35.4 48.6

10 16 15

13 14 4

8 18 3

-38.5 28.6 -25.0

25 37 29

29 42 17

16.0 13.5 -41.4

99 10 26

161 6 25

144 6 28

-10.6 0.0 12.0

46 4 10

86 5 18

80 2 14

-7.0 -60.0 -22.2

168 18 37

300 15 50

78.6 -16.7 35.1

1413 647 1683

2143 790 2151

2001 743 1923

-6.6 -5.9 -10.6

889 374 935

1097 432 1040

1018 403 955

-7.2 -6.7 -8.2

2930 1317 3172

3581 1360 3261

22.2 3.3 2.8

BURNABY DETACHED ATTACHED APARTMENTS

Col. 2 & 3 Percentage Variance

%

Col. 6 & 7 Percentage Variance

9 Jun 2010 Aug 2010

10 Jun 2011 Aug 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

$457,254

$561,101

$1,169,120

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 August 2011

REBGV Stats Package Aug 2011  

REBGV Stats Package for Aug 2011

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