Oct 2009 9

Buyer demand remains strong while home listings increase

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The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totaled 3,559 in September 2009, an increase of 3.4% from the 3,441 sales recorded in August 2009 and an increase of 124.5% compared to September 2008 when 1,585 sales were recorded.

Since the beginning of the year, the MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13%. Home prices compared to September 2008 levels are up 1.6 per cent.

New MLS? listings for residential properties increased 5.5% from August 2009. However, total active listings are down 36% compared to September 2008 when 19,852 homes were listed for sale during the buyer's market that was experienced at this time last year.

"As home sales in Greater Vancouver continued at an elevated pace in September it's encouraging to see that more homes were listed on the MLS? in the month than any other so far this year," said Scott Russell, president of the Real Estate Board of Greater Vancouver (REBGV). "During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008."
2009 09 Stats package Click on the graph to see it in full size

You can also download the whole September 2009 REBGV statistics.

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