News Release from the Real Estate Board of Greater Vancouver
****APR 2011 STATS****
Greater Vancouver housing market sees typical spring activity in April
Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.
Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.
“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.
At 14,187, the total number of residential property listings on the MLS® increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.
“There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-to-date market evaluation.”
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010.
Sales of detached properties on the MLS® in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039.
Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242.
Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670.
WELCOME TO BEAUTIFUL BRITISH COLUMBIA
Vancouver, one of the world's most spectacular cities, welcomed the world as host city of the 2010 Olympic and Paralympic Winter Games.
Named "Top City of the Americas" in Condé Nast Traveler magazine's 2009 Readers' Choice Awards, the world's "Most Liveable City" by the Economist Intelligence Unit (EIU) in 2005, and a Top 100 World Destination pick in Trip Advisor's 2008 Traveller's Choice Awards, Vancouver offers travellers both outstanding opportunities for outdoor adventure and the sophisticated amenities of a world-class city.
Highlights of the city include:
Sports including curling, ice hockey, speed skating and figure skating took place in Vancouver, as diid myriad arts, cultural and music events. Cypress Mountain, towering over Vancouver, hosted freestyle skiing and snowboard events. Alpine skiing, biathlon, cross-country skiing, bobsleigh and luge took place in Whistler.
Stanley Park
Only have time to do one thing in Vancouver? Cycle or stroll along the Stanley Park seawall, a paved 10km/6mi loop with magnificent mountain, ocean, forest and city views. While in Stanley Park, visit to the internationally-acclaimed Vancouver Aquarium Marine Science Centre, one of North America's five largest aquariums.
> More about Stanley Park
> More Gardens & City Parks in Vancouver
Granville Island
From downtown, hop on one of the small passenger ferries that look similar to bathtub toys as they cruise through False Creek to Granville Island, famous for its year-round indoor farmer's market, boutique micro-brewery, street buskers, artisan studios and live theatre.
> More about Granville Island
> More Shopping in Vancouver
Grouse Mountain
While many people prefer to hike up to the top via the Grouse Grind, also known as "Mother Nature's Stairmaster," an equally scenic (and less strenuous) option is to ride up on the 100-passenger tram, appreciating breathtaking panoramic vistas of the Lower Mainland en route.
> More about Grouse Mountain
> More Hiking in Vancouver
Robson Street
Every major city has a famous shopping and cruising strip; Vancouver's is Robson Street. Head here for the high fashion, trendy restaurants and bars, the coffee-shop culture and even a little star spotting; don't forget, this is the Hollywood of the North, and Robson Street is a favourite spot for visiting stars to shine.
> More about Robson Street
> More Vancouver Neighbourhoods
Vancouver Lookout & Canada Place
On a clear day, ride to the top of the Vancouver Lookout for 360-degree views of the city. Then descend to Canada Place, an enormous public pier that stretches out into the harbour like the prow of a ship and houses the Vancouver Convention and Exhibition Centre. Almost a million passengers each year board cruise ships here, most bound for Alaska.
> More Vancouver Viewpoints
UBC Museum of Anthropology
Home to one of the world's most magnificent collections of First Nations totem poles, carvings and other artifacts, the museum is housed in an award-winning glass-and-concrete building designed by the world-renowned architect, Arthur Erickson, based on traditional Northwest Coast post-and-beam structures.
> More about the UBC Museum of Anthropology
> More Museums in Vancouver
Capilano Suspension Bridge
It's shaky, but worth the walk across this swaying suspension bridge - located in the middle of a lush west-coast rainforest - for thrilling canyon views 70m/230ft below.
> More about Capilano Suspension Bridge
> More Buildings, Bridges & Structures in Vancouver
Gastown
Vancouver began here. Stroll down charming cobbled streets, explore heritage buildings and mews, visit unique stores and dine in restaurants that range from quirky to gourmet.
> More about Gastown
Vancouver Public Library Square
Some go for the books, but most go for the architecture. Think ancient Roman Coliseum meets reconstructionist, post-modernism and it will be evident why this full city block became an instant landmark in 1995.
> More about the Vancouver Public Library Square
Chinatown and Chinatown Night Market
Vancouver is home to one of the largest Chinese communities in North America. Its downtown Chinatown (the other major centre is in Richmond) is worth a visit for the historic buildings (including the world's narrowest), exotic markets and herbal apothecaries, not to mention bargains on imported goods, particularly kitchen supplies.
During late spring and summer, the streets are closed to vehicles once a week for the Chinatown Night Market, an exotic flea market with everything from great fashion finds to bargain Asian food.
> More about Chinatown
Celebration of Light
Each year English Bay is lit up in a symphony of fire when Vancouver hosts a four-night spectacular international fireworks competition.
> More Festivals & Events in Vancouver
Weather and Climate
While this sea-level port city is known for its temperate climate, the surrounding snow-covered slopes are the venues for winter sports and breathtaking views of the city twinkling below. Vancouver is one of the few places in the world where it's possible to ski in the morning and sail in the afternoon.
With such a changeable micro-climate, it's always best to be prepared. Check Vancouver Weather reports before heading out on a day's adventure.
The Land
The variety of its landscape is the main reason for British Columbia's distinctiveness: its 947 800 km2 offer remarkable topographical contrasts. Where the Pacific Ocean reaches the continent, it meets a chain of islands, large and small, running from north to south. Some of these islands are nestled in fiords carved in the majestic Coastal Mountains, which rise more than 2 000 metres above sea level.
The People
British Columbia continues to attract Canadians and foreigners alike: 22 000 persons settled in the province in 1998, and its population now exceeds 4 million - 13 percent of Canada's total. Nearly 60 percent live in Vancouver and Victoria, the province's capital. Vancouver, the largest dry cargo port on the Pacific coast of North America, is home to more than two million people, which makes it the third largest city in Canada.
About three fourths of BC's population live in the southwestern corner of the province. The majority of B.C.'s inhabitants are of British origin, but the population includes immigrants and descendants of immigrants of all nationalities. More than 100 000 British Columbians are of Chinese origin, Vancouver has North America's second-largest Chinese community. In addition, more than 60,000 of B.C. inhabitants are from India and over 16,000 from Japan. The Aboriginal population of British Columbia is growing in numbers and is over 200,000 people
Economy
Tourism is an important economic sector in British Columbia. With over five million hectares of parkland, the Rocky Mountains remain the biggest attraction. Coastal B.C., with its beaches, and other attractions, is also popular. Each year, about 15 million people visit British Columbia.
Agriculture and fishing, especially salmon fishing, are two other key sectors of the economy of British Columbia. Manufacturing in B.C. is still largely resource-based, but is being gradually diversified by high-tech and computer-based industries related to telecommunications and the aerospace and sub-sea industries. British Columbia has the most balanced export market of all Canada's provinces, with the United States, Japan, the European Union and the Pacific Rim countries as its clientele.
Capital: Victoria
Motto: Splendor Sine Occasu (Splendor without diminishment)
Flower: Pacific Dogwood
Greater Vancouver saw a typical, solid month of residential home sales on the Multiple Listing Service® (MLS®) in April, in contrast to the near record pace witnessed in the two preceding months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 3,225 in April 2011, an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.
Looking back further, last month’s residential sales represent an 8.8 per cent increase over the 2,963 residential sales in April 2009, relatively unchanged compared to April 2008, and a 4.8 per cent decline compared to the 3,387 sales in April 2007.
“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,847 in April 2011. This represents a 23.5 per cent decline compared to April 2010 when 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, last month’s new listings total registered a 14 per cent decline.
At 14,187, the total number of residential property listings on the MLS® increased 8.2 per cent in April compared to last month and declined 10 per cent from this time last year.
“There’s considerable variation in activity within the communities in our region. This is causing home price trends to differ depending on the area,” Setticasi said. “Your local REALTOR® is a valuable resource for obtaining the most accurate, up-to-date market evaluation.”
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5 per cent to $622,991 in April 2011 from $593,419 in April 2010.
Sales of detached properties on the MLS® in April 2011 reached 1,402, an increase of 2.3 per cent from the 1,370 detached sales recorded in April 2010, and a 17.8 per cent increase from the 1,190 units sold in April 2009. The benchmark price for detached properties increased 7.4 per cent from April 2010 to $879,039.
Sales of apartment properties reached 1,201 in April 2011, a 21.3 per cent decrease compared to the 1,526 sales in April 2010, and an increase of 1.9 per cent compared to the 1,179 sales in April 2009. The benchmark price of an apartment property increased 2.9 per cent from April 2010 to $409,242.
Attached property sales in April 2011 totalled 622, a 1 per cent increase compared to the 616 sales in April 2010, and a 4.7 per cent increase from the 594 attached properties sold in April 2009. The benchmark price of an attached unit increased 2.4 per cent between April 2010 and 2011 to $514,670.