Vancouver East apartment sales up over 70% in Dec 2007
| BENCHMARK PRICE | PRICE +/- | 3 MON. AVG | 1 YR +/- % | 3 YR +/- % | 5 YR +/- % | |
| Residential | ||||||
| Gr Van | $543,401 | 0.60% | $541,258 | 13.6 | 54.6 | 104 |
| Detached | ||||||
| Gr Van | $730,399 | 1.10% | $729,810 | 13.5 | 52.6 | 95.5 |
| Burnaby | $745,160 | 2.50% | $731,072 | 12.8 | 60 | 94.5 |
| Coq | $614,075 | 3.70% | $624,039 | 8.4 | 47.5 | 86.1 |
| S. Delta | $654,500 | 3.60% | $637,766 | 13.5 | 44.9 | 84.8 |
| New West | $557,016 | 5.50% | $562,932 | 13.2 | 50.6 | 102.8 |
| N. Van | $871,191 | 3.30% | $865,587 | 18.1 | 50.7 | 89 |
| Pt Coq | $551,469 | 4.80% | $535,187 | 17.1 | 46.4 | 99.9 |
| Pt Moody | $620,193 | 9.10% | $672,357 | -8.7 | 52.6 | 74.3 |
| Richmond | $722,316 | 2.00% | $722,722 | 13.2 | 52.8 | 95.5 |
| Squamish | $505,208 | 7.90% | $537,325 | 20.6 | 34.5 | 78.3 |
| Van East | $678,179 | 2.20% | $669,272 | 14.3 | 57.7 | 111.2 |
| Van West | $1,396,490 | 3.10% | $1,378,914 | 27.1 | 70.2 | 109.6 |
| West Van | $1,339,990 | 7.50% | $1,401,050 | 10.5 | 48.6 | 97.7 |
| Attached | ||||||
| Gr Van | $456,941 | 0.90% | $455,640 | 11.4 | 47.6 | 100.8 |
| Burnaby | $443,745 | 1.50% | $441,597 | 13.9 | 49.2 | 96.3 |
| Coq | $408,207 | 2.60% | $411,303 | 7.5 | 47.9 | 95.9 |
| S. Delta | $428,808 | 7.20% | $440,031 | 13.1 | 49.3 | 103.9 |
| N. Van | $577,900 | 3.10% | $573,343 | 8.6 | 45 | 97.6 |
| Pt Coq | $380,223 | 3.60% | $378,317 | 6.3 | 37.2 | 79.8 |
| Pt Moody | $407,563 | 3.50% | $399,683 | 9 | 53 | 109.6 |
| Richmond | $447,778 | 1.80% | $440,881 | 14.7 | 49.5 | 91.8 |
| Van East | $494,838 | 3.60% | $505,412 | 11.7 | 47.1 | 124.8 |
| Van West | $697,441 | 3.60% | $699,600 | 13.3 | 47.7 | 123.8 |
| Apartment | ||||||
| Gr Van | $377,579 | 0.60% | $374,463 | 14.5 | 60.3 | 111.5 |
| Burnaby | $335,018 | 1.30% | $334,843 | 14.7 | 61.5 | 118.6 |
| Coq | $296,207 | 2.20% | $285,707 | 16.4 | 67.9 | 118.9 |
| S. Delta | $344,397 | 6.80% | $337,230 | 17.4 | 54.8 | 77.1 |
| New West | $293,140 | 2.30% | $292,339 | 14.4 | 62.6 | 114.7 |
| N. Van | $397,423 | 2.30% | $384,397 | 15 | 61.4 | 129.8 |
| Pt Coq | $251,982 | 2.10% | $249,012 | 14.1 | 69.8 | 140.9 |
| Pt Moody | $300,816 | 3.20% | $300,122 | 12.6 | 68.1 | 145.4 |
| Richmond | $307,608 | 1.40% | $305,541 | 12.5 | 59.7 | 115.8 |
| Van East | $318,659 | 2.00% | $317,155 | 18.8 | 72.2 | 133.6 |
| Van West | $480,453 | 1.20% | $478,033 | 13.7 | 54.9 | 101.8 |
| West Van | $630,541 | 10.20% | $655,087 | 17.1 | 52.4 | 85.9 |
2007 residential housing sales rank second all-time
REBGV release - Residential housing sales for 2007 are the second highest ever recorded by the Real Estate Board of Greater Vancouver (REBGV). The REBGV reports that residential attached, detached and apartment property sales totalled 38,050 between January 1 and December 31, 2007. This marks a 7.2% increase from 2006 and a 6.1% decrease from 2005, the record-setting year with 40,530 sales.
“The continued strength of the real estate market is a reflection of the economic vitality seen throughout the province. With overall wages on the rise and unemployment in decline, buyers and sellers are left with a healthy and strong climate in which to operate,” says REBGV president Brian Naphtali.
Sales of apartment properties in 2007 increased 9.1% to 16,456, compared with 15,088 sales in 2006, according to data from the Multiple Listings Service® (MLS®). Sales of attached units climbed 7.7% to 6,799, compared with 6,310 sales in 2006. Detached property sales increased 4.9% in 2007 to 14,795, compared with sales of 14,108 in 2006.
Overall, new listings for detached, attached and apartment properties increased 4% in 2007 to 54,945 units, compared to the 52,818 listed in 2006.
The aggregate residential sales in December 2007 climbed to 1,897, a 12.5% increase over the 1,686 December sales in 2006. These numbers are in contrast to each of the first five years of the decade where December sales exceeded 2,000.
Sales of apartment properties in December 2007 rose 21.6% to 901, compared to 741 sales in December 2006. The benchmark price, as calculated by the MLSLink Housing Price Index®, of an apartment property increased 14.4% from December 2006 to $377,579.
Attached property sales in December 2007 rose 1.6% to 317, compared with 312 sales in December 2006. The benchmark price of an attached unit increased 11.4% from December 2006 to $456,941 December’s sales for detached properties increased 7.3% to 679 in 2007, up from the 633 detached units sold in the same period of 2006. The December benchmark price for detached properties increased 13.5% from December 2006 to
$730,399.
Bright spots in Greater Vancouver in December 2007 compared to December 2006:
DETACHED:
Richmond........................... up 57.4% (107 units sold up from 68)
Sunshine Coast..................... up 51.9% (41 units sold up from 27)
ATTACHED:
Burnaby................................ up 61.1% (58 units sold up from 36)
APARTMENTS:
Burnaby.............................. up 17.5% (114 units sold up from 97)
North Vancouver...................... up 50% (66 units sold up from 44)
Port Moody/Belcarra ............ up 91.7% (23 units sold up from 12)
Vancouver East................... up 72.6% (107 units sold up from 62)
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