VANCOUVER, B.C. – April 4, 2011 – Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region’s Multiple Listing Service® (MLS®) reaching near record levels.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 percent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 percent increase.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.4 percent to $615,810 in March 2011 from $584,435 in March 2010.
Sales of detached properties on the MLS® in March 2011 reached 1,795, an increase of 34.4 percent from the 1,336 detached sales recorded in March 2010, and a 100.1 percent increase from the 897 units sold in March 2009. The benchmark price for detached properties increased 8.3 percent from March 2010 to $866,806.