Real Estate Board Of Greater Vancouver Stats Package_november 2009

News Release FOR IMMEDIATE RELEASE

Strong demand carries into late fall VANCOUVER, B.C. – December 2, 2009 – Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411. “This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before.” The REBGV reports that residential property sales in November were the third highest volume ever recorded in Greater Vancouver for that month. Sales in the region totalled 3,083 in November 2009, an increase of 252.7 per cent compared to November 2008 when 874 sales were recorded and a 16.8 per cent decrease compared to the 3,704 sales recorded in October 2009. “We are experiencing a brisker than normal market for this time of year, although we have begun to see a reduction in the number of homes listed for sale, which is normal as we head into the holiday season,” Russell said. New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,653 in November 2009. This represents a 21.3 per cent increase compared to November 2008 when 3,012 new units were listed, and a 26.6 per cent decline compared to October 2009 when 4,977 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver. At 11,039, the total number of property listings on the MLS® decreased 8.6 per cent in November compared to last month and declined 39 per cent from this time last year. In contrast to this year, note that November 2008 was the lowest selling November in Greater Vancouver in 27 years. Sales of detached properties increased 261.5 per cent to 1,164 from the 322 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 13.6 per cent from November 2008 to $757,209. Sales of apartment properties in November 2009 increased 240.5 per cent to 1,396 compared to 410 sales in November 2008. The benchmark price of an apartment property increased 11.6 per cent from November 2008 to $381,945. Attached property sales in November 2009 are up 268.3 per cent to 523, compared with the 142 sales in November 2008. The benchmark price of an attached unit increased 10.2 per cent between Novembers 2008 and 2009 to $469,686.

-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  www.realtylink.org

MLSLINK HOUSING PRICE INDEX

Preliminary Report

November 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 % % % $557,384 0.5% $552,726 235.42 12.4 16.2 60.0 $757,209 1.1% $749,550 223.6 13.6 16.9 59.1 $737,175 2.1% $747,585 217.0 12.6 14.8 53.6 $655,864 4.8% $627,342 230.7 6.6 12.4 61.7 $677,645 4.2% $650,939 221.4 19.5 18.3 46.7 $435,144 2.4% $430,384 198.5 3.3 3.1 37.0 $563,856 4.1% $567,694 232.4 4.5 9.7 46.5 $889,711 2.6% $882,870 222.2 18.9 14.0 55.1 $495,886 6.8% $494,538 203.5 2.4 15.8 44.8 $528,529 5.4% $520,853 223.4 2.6 10.4 50.7 $805,187 10.0% $763,573 242.0 39.1 25.8 104.8 $809,514 1.9% $786,733 239.0 19.1 27.1 71.2 $526,947 4.9% $533,780 200.2 -10.3 18.8 43.9 $418,246 5.8% $415,235 237.9 -0.8 8.7 44.8 $699,835 2.0% $697,318 237.0 15.6 18.6 64.6 $1,445,248 2.4% $1,461,591 239.8 29.5 29.9 81.1 $1,352,169 4.5% $1,361,358 199.2 5.3 12.5 44.8 $469,686 0.8% $468,253 227.8 10.2 14.5 53.6 $465,713 1.2% $463,269 233.3 8.6 17.2 56.8 $426,795 2.0% $418,367 230.2 8.0 13.1 51.6 $439,422 5.9% $457,794 235.3 -1.7 14.3 41.9 $303,300 2.0% $301,475 210.4 0.4 6.5 40.9 $581,646 2.8% $589,672 227.6 6.6 13.4 43.1 $402,370 2.9% $393,683 221.3 14.5 16.4 49.3 $380,214 3.9% $383,243 226.9 -0.2 9.0 50.9 $478,302 1.4% $472,798 230.7 14.3 19.0 59.5 $492,571 2.8% $500,638 230.3 6.0 13.9 63.9 $715,027 2.8% $717,164 255.1 25.5 14.8 61.4 $381,945 0.5% $379,202 248.5 11.6 15.9 64.1 $341,196 1.0% $339,705 255.0 9.1 16.5 64.8 $290,114 2.1% $285,233 247.4 9.9 13.8 67.0 $333,239 4.2% $341,102 217.0 -6.5 11.9 42.5 $247,414 3.5% $244,013 262.7 7.0 7.2 59.1 $291,953 1.8% $288,994 237.2 10.8 15.8 65.9 $386,144 2.1% $384,537 245.7 16.2 13.6 59.1 $246,475 1.7% $246,055 288.7 8.0 11.1 67.9 $306,433 2.9% $298,166 261.5 13.1 9.3 70.6 $324,121 1.1% $321,074 263.4 10.0 19.8 70.6 $319,013 1.7% $321,244 261.2 6.7 15.9 73.4 $492,247 1.0% $487,660 250.4 14.9 17.0 61.9 $608,122 7.9% $588,322 218.2 12.9 8.5 46.4

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.

C:\DATA\MonthEnd\Hpi\export\hi_res\gv-hpi2.tif MLS® Housing Price Index - Greater Vancouver 5 Year Trend

Apartment

Nov 2009 Sep 2009 Jul 2009 May 2009 Mar 2009 Jan 2009 Nov 2008 Sep 2008 Jul 2008 May 2008 Mar 2008 Jan 2008 Nov 2007 Sep 2007 Attached

Jul 2007 May 2007 Mar 2007 Jan 2007 Nov 2006

Detached

Sep 2006 Jul 2006 May 2006 Mar 2006 Jan 2006 Nov 2005 Sep 2005 Jul 2005 May 2005

Year 2001 average = 100

280

260

240

220

200

180

160

140

120

100

Mar 2005 Jan 2005 Nov 2004 80

Price Index

16

Detached

Apartment

Attached

Detached

$325,500

$435,500

$728,000

201

101

103

$274,375

$452,900

$621,500

60

124

55

$291,000

n/a

$603,200

2009

Attached

130

Detached

Apartment

$452,000

$735,000

216

$399,950

$620,000 n/a

$599,900

17

7

20

7

44

Apartment

129 47

Attached

$272,000

86

70

Detached

98

Apartment

$338,000 13

n/a

Detached

40 2

106

33

36

168

141

71

137

$387,500

4

$725,714

135

$729,000

$1,600,000

483

n/a

$1,345,000

15 n/a

$463,000

84

n/a

$554,975

200

$309,000 231

n/a

43

10 151

529

19

5

8

78

n/a

n/a 17 14

n/a

5

4

20

n/a

$1,428,000

$477,000

$770,450

$321,000

$1,570,000

n/a

$530,000 $234,150

$732,500

$313,000

n/a $361,450

25

$399,900

$224,000

44

14

n/a

$283,000

$385,000

$620,000

169

45

49

473

n/a

1,324

456

1,873

$307,500

$428,000

$683,500

$1,420,000

4,852

846

1,813

$390,000

49

447

$588,000

$768,750

$1,295,000

155

48

652

131

n/a

1,646

93

$515,000

$665,000

977

129

38

10

25

n/a $367,000

4

n/a

20

48

n/a

6

3

18

222

64

152

22

38

21

189

30

$444,100

$753,000

1

48

$753,500

$415,000

$810,000

7

92

32

$467,200

112

$390,250

$507,500

$287,250

27

1 3

n/a

1,252

$305,000

484

$1,480,000

n/a n/a

n/a

n/a

n/a $285,000

n/a n/a

72

4

523

1,164

1,396

610

1,487

n/a

6

1,607

1

410

142

322

n/a

9

5,986

13,090

n/a

63

14,078

4,241

8,889

n/a

83

10,572

n/a

95

$300,000

$610,500

$849,000

160

$291,000

$414,000

$900,000

74

104

n/a

n/a

n/a

7

n/a

n/a

n/a

7

17

n/a

n/a

n/a

13

14

Whistl er/Pem berton

MLS® SALES Facts

3

$715,000

$318,000

40 $536,000

n/a

89 $867,000

$357,500

$569,000

$394,500

$487,250

$237,200

n/a

$575,250

$286,000

$369,000

$216,000

n/a

n/a

$288,000

n/a

40

185

161

100

$608,500

$872,500

24 38

n/a

$588,000

$228,750

7

2 1

251

1,910

1,235

3,377

$920,000

34

23

18

9

259

$269,900

$380,200

295

$1,460,000

$725,000

10

492

335

$336,000

$513,500

$224,000

1,058

$715,000

10

6

32

55

$305,000

$477,000

n/a

11

15

314

$439,900

$697,500

$259,450

451

$675,000

$438,000

30

1,047

376

$305,000

159

48

70

$516,500

42

2

32 13

$275,000

423

$420,000

$710,000

1,084

91

114

$399,900

$315,000

13

306

937

$319,900

803

$290,000

$1,400,000

n/a

145

$371,000

$490,000

185

1,379

$492,000

$211,000

$1,289,000

1,311

926

$225,000

216

$385,500

$625,000

461

$555,000

$824,750

357

289

$715,000

$285,000

$475,000

44

262

$349,000

253

$456,000

n/a

1

$365,000

$540,500

791

337

$692,500

$312,694

n/a

$613,950

586

0

$272,000

295

$425,000

$749,000

$635,000 n/a

91

$290,000

$445,000

209

704

$522,500

$325,000

n/a

$421,000

1,205

165

n/a

$480,000

$213,750

125

$384,350

$443,000

Detached

$310,000

436

$580,000

965

741

$880,000

$244,000

n/a

Attached

1,159

777

$390,000

n/a

365

$586,450

n/a

Apartment

1,008

$590,000

31

283

$550,000

$365,000

n/a

Detached

1,868

$419,950

$311,500

1

$393,000

n/a

Attached

$698,000

400

0

$488,000

$288,000

n/a

Apartment

$428,950

$260,000

71

$314,900

n/a

Detached

$323,000

790

144

$464,500

$235,000

n/a

Attached

725

569

294

n/a

n/a

Apartment

646

$615,000

n/a

n/a

Detached

1,328

$437,000

n/a

Attached

$635,000

$319,500

n/a

Apartment

$721,500

$420,500

n/a

Detached

$279,950

0

0

0

0

n/a

41

26

99

West V ancou ver/Ho we 16

Vanco uver W est 20

Vanco uver E ast

32

Sunsh ine 54

77

15

46

Squam ish

117

9 41

22

0

Richm ond

n/a

18

0

0

Port M oody/B elcarra

Sound Port C oquitla m

$437,000

8

Coast

North Vanco uver

$328,000

17

7

23

Attached

25

er New W estmin st

Attached

61

Ridge/P itt Mea dows

Apartment

Apartment

Islands - Gulf Maple

11

Number of Sales Median Selling Price Number of Sales Median Selling Price Number of Sales Median Selling Price Number of Sales Median Selling Price Number of Sales

Attached

November 2009

November 2009

October 2009

November 2008

Jan. Nov. 2009 Year-to-date

Jan. Nov. 2008

Median Selling Price

Delta South

Coquit lam

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

Year-to-date

y Burnab

16

2009

134

36

60%

59%

85%

79%

97%

83%

92%

14 31

n/a

225%

72%

77%

100%

53

20

83%

95%

98%

121

19

n/a

123

0

18

95

40

22

139

29

55

196

136

81

621

88%

10 165

104%

48%

30%

31

4

86%

78%

83%

833

60%

77

102

65%

82%

64%

84%

56%

100%

59 229

13%

8

24

62%

100%

23 44

109%

17%

30%

218

83%

35 95%

83%

97%

42

120%

73%

67%

48 97%

83%

48%

83%

64%

150

63

9

141

4

98%

238

62%

69%

277

208

114%

69 160

46%

125%

37

38

343

58%

63

27

89%

222%

10 59

86%

78

34 68%

65%

94

81%

49

86%

51%

7

86%

128

24

94%

87%

137

28

82%

47

50

75%

20

2

20

301

130

1,244

518

2,543

52%

118

4

2,699

7,267

1,266

37%

2

67

107

9 19

663

71%

177

2,022

67%

46

45

33 25 48

83

52 38

156

77

Apartment

1,070

69%

26%

96

104

69%

20%

408

44%

32%

243

241

47%

53%

41%

20%

39%

25%

70%

21%

76%

35%

53%

51%

43%

30%

2,336

55%

39%

473

2,760

1,638

26%

33%

677

556

370

0%

Detached

1,531

623

416

70%

67%

1,474

25%

577

73%

65%

3,061

351

131

200%

449

1,459

75%

3,354

8,698

1,529

25%

191

68%

47%

769

21%

1,337

73%

30%

1,143

2,459

32% 2,030

68%

69%

435

101

126

22%

29%

528

729

76%

60%

2,928

221

249

25% 47%

143

65%

60%

552

3,245

1,754

150%

20%

5

2

63%

64%

940

856

469

30%

5%

19%

793

31%

1,847

804

577

32%

37%

37%

22%

27%

1,887

230

107

50%

69%

671

37%

39%

32%

19%

39%

636

74%

501

1,652

39%

43%

38%

28%

Attached

1,757

1,205

85%

50%

257

37%

48%

56%

22%

Apartment

1,345

64%

0%

2,453

1,740

37%

41%

46%

36%

Detached

2,738

69%

72%

158

697

776

34%

42%

46%

21%

Attached

66%

64%

928

0

6

38%

34%

46%

24%

Apartment

75%

2,457

238

140

43%

42%

44%

39%

Detached

68%

699

42%

43%

44%

39%

Attached

2,162

1,621

39%

53%

Apartment

1,538

20%

18%

Detached

3,158

43%

33%

Attached

32%

43%

49%

39%

Apartment

34%

41%

47%

n/a

Detached

n/a

17%

25

75

125

116

77%

89%

36

West V ancou ver/Ho we

51%

14

623

1,288

1,742

749

1,822

n/a

28

2,406

512

1,067

n/a

14

1,433

8,756

20,292

n/a

252

21,668

10,099

24,696

n/a

303

26,216

n/a

375

25%

39%

27%

408

25%

30%

25%

298

341

26%

29%

7%

27

31

17%

49%

21%

42

35

62%

64%

29%

21

22

Whistl er/Pem berton

MLS® LISTINGS Facts

5

100 110%

n/a

n/a

Detached

40

196 95%

125%

140%

131

76%

70%

118%

135

Apartment

110%

172

79

18

54

Detached

103%

51

102%

37

0

Attached

166

117

50%

0

Apartment

128

76%

55%

Attached

5

Detached

329

92%

41

Attached

78%

74%

161

Apartment

77%

4

Detached

66%

54

Attached

53

Apartment

43

0

Detached

102

Vanco uver W est

61%

80

11

33

Vanco uver E ast

42%

40

4

Sunsh ine

35%

0

Squam ish

42%

Attached

7

Richm ond

42%

17

Port M oody/B elcarra

Sound Port C oquitla m

Attached

0%

Coast

North Vanco uver

Apartment

88

er New W estmin st

70

16

Ridge/P itt Mea dows

35

51

Delta South

93

92

Islands - Gulf Maple

11

Number of Listings

% Sales to Listings

Number of Listings

% Sales to Listings

Number of Listings

% Sales to Listings

Number of Listings

% Sales to Listings

Number of Listings

November 2009

November 2009

October 2009

November 2008

Jan. Nov. 2009 Year-to-date*

Jan. Nov. 2008

% Sales to Listings

Coquit lam

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

Year-to-date*

y Burnab

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

Sales

1 Nov 2008

2 Oct 2009

3 Nov 2009

5 Nov 2008

6 Oct 2009

7 Nov 2009

70 93 156

166 128 329

135 92 196

-18.7 -28.1 -40.4

23 25 61

129 98 216

103 101 201

-20.2 3.1 -6.9

115 104 235

359 304 611

212.2 192.3 160.0

102 35 88

172 51 117

131 51 100

-23.8 0.0 -14.5

40 7 17

130 47 86

124 60 70

-4.6 27.7 -18.6

140 44 103

379 153 248

170.7 247.7 140.8

43 7 17

54 14 31

40 5 16

-25.9 -64.3 -48.4

13 2 8

55 7 17

44 7 20

-20.0 0.0 17.6

67 9 33

152 24 58

126.9 166.7 75.8

123 33 40

161 53 53

134 54 37

-16.8 1.9 -30.2

32 13 13

161 41 38

106 46 22

-34.2 12.2 -42.1

150 50 45

392 138 84

161.3 176.0 86.7

75 38 77

125 50 150

95 36 116

-24.0 -28.0 -22.7

32 15 30

117 41 112

92 32 89

-21.4 -22.0 -20.5

132 52 115

309 114 301

134.1 119.2 161.7

20 11 80

41 19 121

36 18 79

-12.2 -5.3 -34.7

11 2 42

40 18 100

33 15 77

-17.5 -16.7 -23.0

30 16 131

102 49 276

240.0 206.3 110.7

33 25 46

38 27 59

22 24 44

-42.1 -11.1 -25.4

7 9 10

26 22 30

21 16 32

-19.2 -27.3 6.7

29 30 45

82 64 96

182.8 113.3 113.3

52 25 48

63 28 63

40 42 48

-36.5 50.0 -23.8

18 6 10

54 24 55

48 20 40

-11.1 -16.7 -27.3

62 47 69

155 79 133

150.0 68.1 92.8

107 83 177

208 160 343

139 102 229

-33.2 -36.3 -33.2

27 23 34

185 137 222

152 99 189

-17.8 -27.7 -14.9

135 98 259

529 384 641

291.9 291.8 147.5

47 4 2

69 7 4

55 8 4

-20.3 14.3 0.0

25 1 3

43 8 5

36 1 4

-16.3 -87.5 -20.0

83 9 18

143 14 16

72.3 55.6 -11.1

20 9 19

37 24 9

29 23 35

-21.6 -4.2 288.9

4 2 1

17 14 20

18 7 6

5.9 -50.0 -70.0

24 15 15

58 36 36

141.7 140.0 140.0

137 45 118

277 49 218

196 59 165

-29.2 20.4 -24.3

44 10 38

231 48 151

168 38 135

-27.3 -20.8 -10.6

187 47 147

638 136 430

241.2 189.4 192.5

128 67 518

238 94 833

136 77 621

-42.9 -18.1 -25.5

25 14 131

200 78 529

141 64 483

-29.5 -17.9 -8.7

123 74 553

516 223 1489

319.5 201.4 169.3

14 31 27

28 35 42

14 22 21

-50.0 -37.1 -50.0

1 9 7

6 17 7

4 14 13

-33.3 -17.6 85.7

21 41 29

20 41 27

-4.8 0.0 -6.9

78 2 20

141 10 34

81 10 31

-42.6 0.0 -8.8

20 4 5

84 10 19

71 3 15

-15.5 -70.0 -21.1

60 5 24

221 21 46

268.3 320.0 91.7

1049 508 1433

1818 749 2406

1283 623 1742

-29.4 -16.8 -27.6

322 142 410

1478 610 1607

1161 523 1396

-21.4 -14.3 -13.1

1358 641 1821

4055 1780 4492

198.6 177.7 146.7

BURNABY DETACHED ATTACHED APARTMENTS

Col. 2 & 3 Percentage Variance

%

Col. 6 & 7 Percentage Variance

9 Sep 2008 Nov 2008

10 Sep 2009 Nov 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

CONDOMINIUM

ATTACHED

APARTMENTS

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

$903,496

$505,135

$426,059

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 ($)

1000

900

800

700

600

500

400

300

200

100

0

NOTE: From 1977 - 1984 condominium averages were not separated into attached & apartment.