A steady influx of new listings has helped create a balanced ?typical spring? housing market in the Greater Vancouver region.
Residential property sales in Greater Vancouver totaled 3,137 in March 2010, an increase of 38.5% compared to March 2009, a 4.7% increase over March 2008, and a 12.4% decrease compared with March 2007 and a 26.8% increase compared to February 2010 when 2,473 sales were recorded.
The MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 20.3% to $584,435 in March 2010 from $485,845 in March 2009. This price is 2.8% above the previous high point in the market in May 2008 when the residential benchmark price sat at $568,411.
New MLS? listings for detached, attached and apartment properties in Greater Vancouver totaled 7,004 in March 2010. An increase of 60% from March 2009 when 4,385 new units were listed and an increase of 52.1% compared to February 2010 when 4,606 properties were listed on the MLS?.
Total active listings at 13,538 are up 19% compared to February 2010 but have declined 7.6% from March 2009.
The total number of homes listed for sale on our MLS? is at its highest level in 10 months, which translates into more options and variety for those looking to buy during the traditionally busy spring period,? said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV).
?With a sales-to-listing ratio of 23%, we see a healthy balance between buyer demand and seller supply in the marketplace ,? Moldowan said.
You can also download the whole March 2010 REBGV statistics.