September 2009 Real Estate Board of Greater Vancouver MLS Statistics

Monthly Vancouver MLS Statistics - September 2009

Another Great Month

The Vancouver real estate market has remained strong through the month of September. The most recent month was the second best September ever on record for Vancouver (as measured by units sold). The strength that has been evidenced in the market since the beginning of the year doesn’t appear to be abating.

For the third month in a row sales slipped on a month-to-month comparison. The Vancouver real estate market saw sales fall (-1.27%) to 1166 from 1181 in August 2009. This is an expected seasonal slowdown as we’ll most likely see sales continue to slide towards the end of the year. Year-over-year the comparison is much rosier as sales were up +151.29% over the 464 sales we saw last September.

New Listings were up for the first time in three months (+27.09%). They rose to 1900 from 1495 the previous month. This is, however, down (-10.8%) from the 2130 that we had a year ago.

Prices continue to see upward pressure. All types of housing are seeing significant gains other than attached. Both detached and apartments were up this last month. Houses appear to be seeing the strongest gains with last month rising +2.36% and in comparison to a year ago up +9.16%

The official line

“As homes 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,” Scott Russell, REBGV president said.

“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.

The numbers

There was a drop in sales (-1.27%) for the third time in the last six months. The largest decline in sales was actually on the westside where they fell -7.8%. They actually rose +12.18% on the eastside of Vancouver. Year-over-year sales were up (+151.29%). There were 1166 sales in September 2009 versus just 464 in September 2008.

New listings for the first time in three month (+27.09%) on a month-to-month basis. There were 1900 new listings in September compared to the 1495 in August 2009. Year-over-year there was a decline (-10.8%) from 2130 in September 2008 to 1900 in September 2009. The Sell/List ratio fell to 61.37% (from 79%).

Active listings rose for the first time in seven months. We went from 3069 in August to 3355 this past September. That’s an increase of +9.32%. Year-over-year, however, we are WAY down (-44.95%) from the annual high of 6095.

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