This past February was a vast improvement on the horrible January we began 2009 with. One more month has past and we can now see that the improving trend continued from February into March 2009. We are continuing to see an increase in the level of interest in Vancouver real estate and this is translating into sales.
”There’s more confidence in the housing market today than we were seeing late last year. Sales activity is rising to more typical levels given the season, and the number of homes being listed for sale is levelling off,” said Scott Russell, president of the Real Estate Board of Greater Vancouver (REBGV).
”REALTORS® are seeing an increasing level of interest from ! rst-time buyers who are attracted to low interest rates, good supply of housing, greater affordability, and a considerably lower overall cost of servicing a mortgage compared to recent years,” Russell said
Sales in Greater Vancouver rose +53% over February to 2,265, returning to levels of a decade ago (whereas January saw us at a 25 year low). This level of Sales in the Greater Vancouver real estate market was a decrease of 24.4% over a year ago.
For the fifth month in a row there was a dip in the number of listings. New residential listings fell -22% in March 2009 to 4,385 vs a year ago. This was also the third consecutive month that saw listings falling in excess of 20%.
Total active listings are actually up despite these numbers. In Greater Vancouver there wre 14,579 listings, up 19% over a year ago.
Below, you’ll see the stats for Vancouver specifically. Sales are not up as strongly (+38%) as in the rest of Greater Vancouver. Listings also bucked the overall trend in Vancouver, rising 9.79% in the city. The Sell/List ratio improved to healthier 54.60% and the Months Supply fell considerably (-27.23%) to 5.7.
As for prices, they are all over the board. Detached houses in Vancouver West have been hit hardest (-3.75% m-m) while Westside apartments held up better this past month (-0.05% m-m). On the Eastside, the results were the opposite. Attached properties were hardest hit (-3.49% m-m) while Detached remained flat (+0.15% m-m) and Apartment properties actually rose (+3.63% m-m).
Vancouver MLS Real Estate Statistics - March 2009
Should you still have questions, or you are interested in buying or selling then you can contact Sebastian Albrecht, Vancouver Realtor or send me a quick email.
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Copyright © 2009 Vancouver Real Estate Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver ”February 2009 Real Estate Board of Greater Vancouver MLS Statistics”
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Related posts:
- March 2010 Real Estate Board of Greater Vancouver MLS Statistics
- November 2009 Real Estate Board of Greater Vancouver MLS Statistics
- December 2009 Real Estate Board of Greater Vancouver MLS Statistics
- October 2009 Real Estate Board of Greater Vancouver MLS Statistics
- September 2009 Real Estate Board of Greater Vancouver MLS Statistics
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