VANCOUVER, B.C. – October 4, 2011 – Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 percent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 percent increase compared to the 4,685 new listings reported in August 2011.
The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 percent in September compared to August 2011 and rose 4.4 percent compared to this time last year.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 percent to $627,994 in September 2011 from $577,174 in September 2010. Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 percent.