Dec 2010 16

MLS® stats show more sales, fewer property listings in November

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Greater Vancouver home sales improved in November compared to the previous four months, with the number of sales posted on the Multiple Listing Service (MLS?) coming in slightly higher than the 10-year average for that month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 2,509 in November 2010, a decline of 18.6% compared to the 3,083 sales in November 2009 and a 7.4% increase compared to October 2010.

The MLS? Link Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.1% to $580,080 in November 2010 from $557,384 in November 2009. Since June, however, residential home prices in Greater Vancouver have remained relatively unchanged.

New MLS? listings for detached, attached and apartment properties in Greater Vancouver totaled 3,030 in November 2010. A decline of 17.1% from November 2009 when 3,653 new units were listed.

Total active listings at 12,384 are down 12.1% compared to October 2010 and have increased 12% from November 2009.

Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV).

“Home values have been relatively stable over the last five months compared to the summer period when we were seeing some downward pressure on prices,” Moldowan said. “It’s the homes priced accurately for today’s market that are receiving a lot of attention and selling right now.”

Click on the graph to see it in full size Click on the graph to see it in full size

You can also download the whole November 2010 REBGV statistics.

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