May 2010 13

Home buyer and seller activity increases in busy spring market

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The Greater Vancouver housing market experienced increased activity in April thanks to a steady balance of home buyers and sellers entering the marketplace.

Residential property sales in Greater Vancouver totaled 3,512 in April 2010, an increase of 18.5% compared to the 2,963 sales in April 2009, a 9.1% increase over April 2008, and a 3.7% increase compared with April 2007 and a 12% increase compared to March 2010 when 3,137 sales were recorded.

The MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 18.9% to $593,419 in April 2010 from $499,021 in April 2009.

New MLS? listings for detached, attached and apartment properties in Greater Vancouver totaled 7,648 in April 2010. An increase of 64.5% from April 2009 when 4,649 new units were listed and an increase of 9.2% compared to March 2010 when 7,004 properties were listed on the MLS?.

Total active listings at 15,901 are up 17% compared to March 2010 and have increased 11% from April 2009.

We?re in the midst of another strong spring season thanks to high levels of activity on both the buyer and seller side of our market,? said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV). ?The number of homes coming on the market has increased significantly in recent months, which is providing a healthy level of choice for those looking to buyer during this busy period.?

?It was at this time last year when home prices in our region began their recovery from the declines that occurred during the recession period ,? Moldowan said.

2010 April REBGV Stats Package Click on the graph to see it in full size

You can also download the whole April 2010 REBGV statistics.

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