Metro Vancouver Real Estate Statistics Apr 09

News Release FOR IMMEDIATE RELEASE

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 Vancouver, 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 benchmark price of an attached unit decreased 9.7 per cent between April 2008 and 2009 to $431,759. Bright spots in Greater Vancouver in April 2009 compared to April 2008: Detached: Vancouver West ..........up 59.5 per cent (193 units sold from 121) Attached: Port Coquitlam................up 69.6 per cent (39 units sold from 23) Richmond ....................up 17.9 per cent (132 units sold from 112) Vancouver West.................up 46.3 per cent (98 units sold from 67) Apartments: North Vancouver ...............up 29.2 per cent (84 units sold from 65)

- 30 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.

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: [email protected]

also available at Ü www.realtylink.org

MLSLINK HOUSING PRICE INDEX

Preliminary Report

April 2009 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 PRICE RANGE BENCHMARK INDEX CHANGE CHANGE CHANGE (+/-) PRICE % % % $499,021 0.5% $490,306 210.77 -12.2 9.9 45.2 $675,268 1.0% $659,354 199.4 -12.5 8.7 42.6 $670,637 2.2% $648,473 197.4 -12.9 6.2 40.8 $590,718 4.0% $598,778 207.8 -11.2 10.2 39.3 $603,815 3.1% $589,935 197.3 -11.7 9.8 35.5 $407,401 2.4% $399,732 185.8 -11.9 5.8 29.3 $537,714 4.0% $520,510 221.6 -8.7 8.8 52.7 $782,388 2.4% $755,580 195.4 -14.3 6.7 32.3 $520,244 9.7% $441,663 213.5 8.2 31.3 44.2 $499,094 4.3% $494,293 210.9 -9.2 10.9 36.7 $779,571 14.3% $642,561 234.3 -4.2 46.2 66.2 $682,124 2.3% $675,743 201.4 -11.4 11.0 45.4 $514,325 7.3% $524,943 195.4 -13.1 24.7 7.5 $434,597 9.4% $381,644 247.2 1.4 16.4 59.3 $608,174 1.9% $609,723 206.0 -12.1 5.6 45.0 $1,237,674 2.2% $1,178,526 205.4 -14.4 11.0 58.6 $1,126,620 4.9% $1,156,071 166.0 -29.2 -6.1 22.8 $431,759 0.7% $426,196 209.4 -9.7 13.6 46.6 $425,994 1.2% $422,214 213.4 -7.5 12.6 47.9 $380,312 2.6% $379,354 205.1 -11.0 9.0 41.4 $450,297 5.6% $440,925 241.1 -3.8 26.9 80.5 $292,721 1.8% $286,268 203.1 -8.6 14.6 47.4 $529,314 2.2% $527,166 207.2 -12.2 10.3 35.9 $365,907 2.1% $366,272 201.2 -9.5 7.7 38.5 $359,421 2.9% $358,000 214.5 -13.5 11.5 51.1 $429,472 1.3% $422,541 207.1 -8.1 13.1 45.2 $477,690 2.9% $460,710 223.3 -10.0 18.5 57.2 $641,206 2.5% $633,675 228.8 -12.2 18.9 52.7 $340,203 0.5% $336,815 221.3 -12.6 9.9 49.3 $307,761 1.2% $304,123 230.0 -11.7 12.5 55.1 $253,532 2.1% $250,113 216.2 -15.6 7.4 55.5 $317,317 6.0% $327,191 206.7 -12.9 16.4 45.7 $231,435 4.1% $232,636 245.8 -12.5 18.4 79.6 $267,428 1.8% $262,839 217.2 -11.0 12.0 58.4 $339,761 2.2% $339,916 216.2 -13.3 5.5 42.5 $225,927 1.6% $226,107 264.6 -13.3 11.7 63.6 $278,878 3.0% $268,853 238.0 -10.7 6.6 55.6 $285,925 1.2% $281,897 232.4 -11.4 10.3 53.7 $294,674 1.9% $292,350 241.2 -11.1 14.2 65.6 $430,318 1.0% $425,013 218.9 -12.9 8.6 40.5 $554,780 9.6% $553,591 199.1 -17.6 2.6 25.2

HOW TO READ THE TABLE: BENCHMARK PRICE: Estimated sale price of a benchmark property. Benchmarks represent a typical property within each market. PRICE RANGE: Expresed as a + or - percentage of the benchmark price, there is a 90% probability the sale price of a benchmark house is within the interval. PRICE INDEX: Index numbers estimate the percentage change in price on typical and constant quality properties over time. All figures are based on past sales. In Year 2001, the indexes are averaged to 100 Key: * = Sales sample too small; Price information not reported.

Apr 2009 Feb 2009 Dec 2008 Oct 2008 Aug 2008 Jun 2008

Dec 2007 Apartment

Oct 2007 Aug 2007 Jun 2007 Apr 2007 Feb 2007

Attached

Dec 2006 Oct 2006 Aug 2006 Jun 2006

Detached

Apr 2006 Feb 2006 Dec 2005 Oct 2005 Aug 2005 Jun 2005 Apr 2005 Feb 2005 Dec 2004 Oct 2004 Aug 2004 Jun 2004 80

100

120

140

160

180

200

220

240

260

Apr 2004 280

Year 2001 average = 100

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

Feb 2008

Price Index

Price Index - Greater Vancouver 5 Year Trend

Apr 2008

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

$335,000

$448,800

Attached

Apartment

$735,000

Detached

281

Attached

575

331

Detached

Apartment

$310,000

$415,500

Apartment

Attached

219

Attached

$637,500

242

Detached

Detached

$334,400

Apartment

408

$415,800

Apartment

$740,000

Attached

Attached

Detached

98

100

Detached

157

$295,000

Apartment

$422,000

Apartment

67

Attached

Attached

70

Detached

$623,500

$317,000

Apartment

Detached

$420,000

Attached

134

$640,000

Detached

Apartment

162

88

Attached

Apartment

96

Detached

2009

Coquit lam $282,000

$460,000

$640,000

249

121

350

$245,000

$373,000

$534,500

171

80

257

$280,000

$459,000

$641,500

69

47

123

$230,000

$348,000

$529,500

39

29

82

$247,000

$407,000

$535,250

59

36

104

Delta South $338,000

$440,600

$630,000

61

35

196

$307,500

$399,900

$576,000

36

21

164

n/a

n/a

$636,250

16

7

62

n/a

n/a

$575,500

12

5

73

n/a

n/a

$596,400

8

11

56

Islands - Gulf n/a

n/a

n/a

0

0

13

n/a

n/a

n/a

0

0

3

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

1

$235,500

$326,000

$490,000

149

184

409

$205,000

$283,500

$435,000

54

106

306

$222,000

$323,500

$483,700

41

57

122

n/a

$260,500

$415,000

17

30

92

n/a

$299,250

$440,000

16

48 79

9

31

$295,000

$399,000

$563,000

303

61

81

$260,000

$343,900

$490,000

234

28

61

$288,400

n/a

$543,900

95

13

30

$260,000

n/a

n/a

79

8

14

$280,000

n/a

$485,250

Maple R id g e/Pitt M eadow s 127

$370,000

$605,000

$910,000

323

121

348

$317,000

$507,500

$725,000

210

94

236

$353,000

$586,900

$909,000

65

41

113

$317,000

$475,000

$725,000

65

29

69

$337,000

$570,000

$750,000

84

49

109

North Vanco uver

Note: Median Selling Prices are not reported for areas with less than 20 sales or for the Gulf Islands

Year-to-date

Jan. Apr. 2008

Year-to-date

Jan. Apr. 2009

April 2008

March 2009

April 2009

Number of Sales

April 2009

16

Port C oquitla m $246,500

$382,000

$528,000

146

106

162

$220,500

$359,950

$457,950

96

86

122

$250,000

$382,350

$519,500

36

23

56

$220,000

$346,450

$472,500

31

22

28

$231,000

$380,000

$460,000

41

39

49

Port M oody/B elcarra $330,000

$434,500

$670,000

153

95

88

$302,500

$388,000

$645,000

77

65

47

$341,000

$441,000

$768,000

47

25

33

$298,500

n/a

n/a

26

15

12

$325,900

$375,000

n/a

26

24

18

Richm ond $325,000

$457,000

$705,500

601

395

544

$279,000

$410,000

$655,250

431

281

352

$320,000

$470,000

$705,500

179

112

173

$283,500

$402,800

$660,000

130

89

118

$285,000

$422,000

$660,000

162

132

135

Squam ish $277,650

$437,500

$485,000

46

60

66

n/a

n/a

$465,400

9

17

30

n/a

$449,900

$528,750

6

24

22

n/a

n/a

n/a

2

6

7

n/a

n/a

n/a

3

5

11

n/a

$295,000

$389,500

8

33

188

n/a

n/a

$369,000

10

11

89

n/a

n/a

$410,000

2

18

74

n/a

n/a

$369,000

3

4

30

n/a

n/a

$380,000

5

3

31

Sunsh ine Co ast

4

y

Burnab

er New W estmin st

Vanco uver E ast $317,000

$528,750

$675,000

505

136

541

$278,950

$462,250

$609,500

259

86

420

$316,000

$534,900

$700,500

141

51

185

$287,000

$432,250

$620,000

81

20

119

$274,000

$467,500

$607,300

97

38

167

Vanco uver W est $445,000

$725,000

$1,502,000

1,532

202

470

$398,000

$606,500

$1,220,000

1,114

210

483

$444,500

$748,000

$1,501,000

438

67

121

$390,000

$600,000

$1,190,000

334

61

144

$398,000

$628,000

$1,300,000

418

98

193

$735,000

$949,000

$1,600,000

58

23

225

$460,000

n/a

$1,200,000

36

4

143

n/a

n/a

$1,700,000

16

8

65

n/a

n/a

$1,225,000

15

0

35

n/a

n/a

$1,200,000

13

3

59

3

n/a

21

30

11

n/a

n/a

n/a

9

15

12

n/a

n/a

n/a

8

7

2

n/a

n/a

n/a

6

11

$285,000

$685,000

$1,010,000

35

68

33

$270,000

$380,000

Sound Wes t V a n couve r/Howe

MLS® SALES Facts

Whistl er/Pem berton n/a

4,744

1,921

4,045

n/a

3,166

1,338

2,966

n/a

1,317

608

1,293

n/a

976

392

897

n/a

1,179

594

1,190

% 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%

51%

Attached

Apartment

42%

Detached

554

Attached

1,137

781

Detached

Apartment

50%

50%

Apartment

Attached

441

Attached

43%

562

Detached

Detached

45%

Apartment

811

58%

Attached

Apartment

42%

172

Attached

Detached

236

Detached

347

59%

Apartment

Apartment

54%

124

Attached

43%

164

Detached

Attached

73%

Apartment

Detached

73%

Attached

226

63%

Detached

Apartment

223

121

Attached

Apartment

153

Detached

2009

Coquit lam 41%

48%

41%

612

253

862

48%

37%

40%

355

217

638

33%

68%

42%

207

69

294

41%

42%

46%

96

69

180

63%

71%

51%

94

51

205

Delta South 64%

59%

52%

96

59

379

49%

53%

49%

73

40

337

62%

37%

55%

26

19

113

92%

28%

72%

13

18

102

47%

138%

57%

17

8

99

Islands - Gulf n/a

0%

31%

0

1

42

0%

0%

6%

2

1

49

n/a

n/a

25%

0

0

16

0%

0%

11%

1

1

18

n/a

n/a

5%

0

0

19

51%

68%

45%

295

270

916

32%

40%

40%

170

262

759

61%

64%

46%

67

89

265

40%

38%

46%

43

80

201

37%

89%

65%

43

54

194

Maple R id g e/Pitt M eadow s 46%

54%

44%

658

113

184

50%

43%

41%

464

65

147

43%

42%

48%

222

31

63

74%

53%

38%

107

15

37

69%

43%

91%

114

21

34

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

Year-to-date*

Jan. Apr. 2008

Year-to-date*

Jan. Apr. 2009

April 2008

March 2009

April 2009

Number of Listings

April 2009

16

North Vanco uver 51%

53%

52%

637

227

668

47%

43%

45%

447

218

530

30%

76%

52%

217

54

219

51%

54%

50%

127

54

139

71%

70%

73%

118

70

150

Port C oquitla m 52%

46%

47%

283

231

347

51%

56%

56%

189

153

216

43%

27%

55%

83

84

102

78%

51%

50%

40

43

56

68%

98%

89%

60

40

55

Port M oody/B elcarra 46%

53%

43%

334

179

203

42%

42%

29%

184

154

164

57%

44%

51%

83

57

65

60%

33%

27%

43

45

44

52%

52%

41%

50

46

44

Richm ond 47%

62%

49%

1,275

637

1,107

53%

56%

46%

814

502

762

47%

55%

51%

383

203

342

74%

67%

60%

175

133

196

62%

78%

63%

263

169

213

Squam ish 72%

59%

39%

64

101

169

11%

22%

25%

80

76

122

27%

75%

45%

22

32

49

13%

33%

27%

15

18

26

8%

18%

29%

39

28

38

Sunsh ine Co ast 26%

60%

42%

31

55

448

22%

42%

24%

46

26

375

50%

150%

62%

4

12

120

38%

44%

25%

8

9

121

17%

38%

29%

29

8

107

59%

55%

43%

862

249

1,262

40%

41%

53%

641

212

799

58%

67%

45%

243

76

410

45%

36%

52%

180

56

231

55%

47%

69%

175

81

242

Vanco uver E ast

4

y

Burnab

er New W estmin st

Vanco uver W est 47%

38%

42%

3,239

531

1,117

48%

43%

56%

2,327

490

869

44%

35%

33%

997

190

372

57%

47%

70%

587

131

205

76%

81%

73%

552

121

266

Sound 46%

43%

38%

126

54

592

35%

10%

35%

104

41

412

42%

44%

34%

38

18

193

65%

0%

32%

23

8

110

46%

21%

48%

28

14

124

Wes t V a n couve r/Howe

MLS® LISTINGS Facts

25%

51%

31%

139

133

107

22%

23%

14%

95

129

80

26%

38%

39%

35

40

31

42%

24%

11%

19

29

19

35%

33%

16%

17

33

19

Whistl er/Pem berton n/a

9,788

3,647

9,184

n/a

6,802

3,027

6,821

n/a

2,974

1,146

2,890

n/a

1,703

833

1,849

n/a

1,822

865

1,962

Real Estate Board of Greater Vancouver Listing & Sales Activity Summary Listings

Sales

1 Apr 2008

2 Mar 2009

3 Apr 2009

5 Apr 2008

6 Mar 2009

7 Apr 2009

236 172 347

164 124 226

153 121 223

-6.7 -2.4 -1.3

98 100 157

70 67 134

96 88 162

37.1 31.3 20.9

272 229 477

213 201 366

-21.7 -12.2 -23.3

294 69 207

180 69 96

205 51 94

13.9 -26.1 -2.1

123 47 69

82 29 39

104 36 59

26.8 24.1 51.3

299 100 192

230 73 139

-23.1 -27.0 -27.6

113 19 26

102 18 13

99 8 17

-2.9 -55.6 30.8

62 7 16

73 5 12

56 11 8

-23.3 120.0 -33.3

166 27 50

151 20 34

-9.0 -25.9 -32.0

265 89 67

201 80 43

194 54 43

-3.5 -32.5 0.0

122 57 41

92 30 17

127 48 16

38.0 60.0 -5.9

342 158 125

268 93 43

-21.6 -41.1 -65.6

219 54 217

139 54 127

150 70 118

7.9 29.6 -7.1

113 41 65

69 29 65

109 49 84

58.0 69.0 29.2

302 105 260

224 90 187

-25.8 -14.3 -28.1

63 31 222

37 15 107

34 21 114

-8.1 40.0 6.5

30 13 95

14 8 79

31 9 79

121.4 12.5 0.0

67 49 249

55 23 210

-17.9 -53.1 -15.7

65 57 83

44 45 43

44 46 50

0.0 2.2 16.3

33 25 47

12 15 26

18 24 26

50.0 60.0 0.0

71 79 134

45 59 67

-36.6 -25.3 -50.0

102 84 83

56 43 40

55 40 60

-1.8 -7.0 50.0

56 23 36

28 22 31

49 39 41

75.0 77.3 32.3

142 86 115

111 81 86

-21.8 -5.8 -25.2

342 203 383

196 133 175

213 169 263

8.7 27.1 50.3

173 112 179

118 89 130

135 132 162

14.4 48.3 24.6

464 325 480

322 268 375

-30.6 -17.5 -21.9

120 12 4

121 9 8

107 8 29

-11.6 -11.1 262.5

74 18 2

30 4 3

31 3 5

3.3 -25.0 66.7

160 26 8

81 9 10

-49.4 -65.4 25.0

49 32 22

26 18 15

38 28 39

46.2 55.6 160.0

22 24 6

7 6 2

11 5 3

57.1 -16.7 50.0

49 52 37

26 15 6

-46.9 -71.2 -83.8

410 76 243

231 56 180

242 81 175

4.8 44.6 -2.8

185 51 141

119 20 81

167 38 97

40.3 90.0 19.8

453 120 425

378 75 237

-16.6 -37.5 -44.2

372 190 997

205 131 587

266 121 552

29.8 -7.6 -6.0

121 67 438

144 61 334

193 98 418

34.0 60.7 25.1

395 174 1255

437 196 997

10.6 12.6 -20.6

31 40 35

19 29 19

19 33 17

0.0 13.8 -10.5

12 15 9

2 7 8

3 11 6

50.0 57.1 -25.0

27 52 30

10 23 15

-63.0 -55.8 -50.0

193 18 38

110 8 23

124 14 28

12.7 75.0 21.7

65 8 16

35 0 15

59 3 13

68.6 300.0 -13.3

183 21 47

121 3 33

-33.9 -85.7 -29.8

2874 1146 2974

1831 832 1702

1943 865 1822

6.1 4.0 7.1

1289 608 1317

895 392 976

1189 594 1179

32.8 51.5 20.8

3392 1603 3884

2672 1229 2805

-21.2 -23.3 -27.8

%

BURNABY DETACHED ATTACHED APARTMENTS

Col. 2 & 3 Percentage Variance

Col. 6 & 7 Percentage Variance

9 Feb 2008 Apr 2008

10 Feb 2009 Apr 2009

%

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

100

200

300

400

500

600

700

800

900

1000

CONDOMINIUM

ATTACHED

APARTMENTS

$364,075

$463,284

$816,802

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

IN THOUSANDS ($)

DETACHED

Real Estate Board of Greater Vancouver Average Price Graph January 1977 to April 2009