RESIDENTIAL DETACHED

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$525,700

152.7

1.06%

3.11%

12.11%

North Surrey

$537,200

151.5

0.93%

3.84%

11.40%

Surrey

$556,200

148.4

1.16%

5.10%

11.50%

South Surrey & White Rock

$910,700

166.6

0.54%

8.68%

23.41%

Langley

$546,800

135.8

-0.22%

2.11%

3.82%

Abbots

$430,600

131.7

0.00%

0.61%

1.15%

TOWNHOUSES

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$331,000

145.2

0.83%

3.05%

8.68%

North Surrey

$261,700

145.8

-0.14%

1.96%

3.55%

Surrey

$310,200

135.5

0.67%

0.74%

2.03%

South Surrey & White Rock

$456,300

138.2

3.29%

5.58%

9.68%

Langley

$304,700

136.0

0.37%

1.42%

3.11%

Abbots

$240,300

130.5

0.54%

-3.76%

-2.17%

APARTMENTS

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$180,600

150.4

-1.76%

-1.44%

-1.31%

North Surrey

$190,800

152.5

0.39%

0.86%

-2.62%

Surrey

$197,900

151.0

-0.92%

0.47%

-0.85%

South Surrey & White Rock

$262,600

133.6

0.60%

0.53%

-1.55%

Langley

$206,500

136.6

0.59%

-2.36%

-4.41%

Abbots

$171,300

144.6

2.12%

3.88%

-3.21%

VANCOUVER, B.C. – May 2, 2012 – Home sale and listing activity has maintained a consistent pace on the Multiple Listing Service® (MLS®) in Greater Vancouver in recent months, which has helped create balanced conditions for the region’s housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,799 on the Multiple Listing Service® (MLS®) in April 2012. This represents a 13.2 per cent decline compared to the 3,225 sales recorded in April 2011 and a decline of 2.6 per cent compared to the 2,874 sales in March 2012.

April sales were the lowest total for the month in the region since 2001 and 16.9 per cent below the 10-year April sales average of 3,369.

“Although April sales were below what’s typical for the month, we continue to see, with a sales-to-active listing ratio of nearly 17 per cent, a balanced relationship between buyer demand and seller supply in our marketplace,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,056 in April 2012. This represents a 3.6 per cent increase compared to both March 2012 when 5,843 homes were listed and April 2011 when 5,847 homes were listed for sale on the region’s MLS®.

Last month’s new listing total was 6.7 per cent above the 10-year average for listings in Greater Vancouver for April.

At 16,538, the total number of homes listed for sale on the region’s MLS® increased 8.5 per cent in April compared to last month and increased 16 per cent from this time last year.

“Recent activity has had a stabilizing effect on home prices at the regional level, although pricing can vary depending on area and property type,” Klein said “To best understand conditions within your area of interest, it’s important to do your homework and consult a local REALTOR®.”

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $683,800, up 3.7 per cent compared to April 2011 and an increase of 2.8 per cent over the last three months. The benchmark price for all residential properties in the Lower Mainland is $612,000, which is a 3.4 per cent increase compared to April 2011 and a 2.6 per cent increase compared to three months ago.

Sales of detached properties on the MLS® in April 2012 reached 1,126, a decline of 19.7 per cent from the 1,402 detached sales recorded in April 2011, and a 17.8 per cent decrease from the 1,370 units sold in April 2010. The benchmark price for detached properties increased 6.3 per cent from April 2011 to $1,064,800.

Sales of apartment properties reached 1,190 in April 2012, a decline of 0.9 per cent compared to the 1,201 sales in April 2011, and a decrease of 22 per cent compared to the 1,526 sales in April 2010.The benchmark price of an apartment property increased 1.1 per cent from April 2011 to $375,900.

Townhome property sales in April 2012 totalled 483, a decline of 22.3 per cent compared to the 622 sales in April 2011, and a 21.6 per cent decrease from the 616 townhome properties sold in April 2010. The benchmark price of a townhome unit increased 1.7 per cent between April 2011 and 2012 to $487,300.

SURREY, BC – There were 1,435 property sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 5 per cent decrease compared to the 1,516 sales in April of last year, and a slight increase over the 1,412 sales in March.

In April, the Board added 7 per cent more new listings compared to one year ago, 3,134 in contrast to 2,918 in April 2011, pushing the number of properties for sale in the Fraser Valley to 10,312, the highest level since July 2010.

Scott Olson, President of the Board, says “To put it in perspective, in the last decade, April 2012 ranked second lowest for sales during that month, while new listings came in at the third highest, meaning it’s a good time to be shopping for a home in the Fraser Valley because selection has only been this extensive twice.

“When you combine modest sales with normal, seasonal increases in listings it helps keep house prices in check, which is what we’re seeing. Benchmark prices for all property types remain essentially unchanged from March and for townhomes and apartments, they’re on par with what they were one year ago.”

The benchmark price or value of a ‘typical’ Fraser Valley detached home as determined by the MLS® Home Price Index (MLS®HPI), increased 5.3 per cent in one year. It went from $547,800 in April 2011 to $576,600 last month.

In April, the MLS®HPI benchmark price of a Fraser Valley townhouse was $318,400, an increase of 1.9 per cent compared to $312,600 in 2011. The benchmark price of an apartment increased by 0.8 per cent year‐over‐year; going from $204,100 in April of last year to $205,800 in April 2012.

Olson adds, “There are a lot of different dynamics to our market right now – all depending on location, property type and price point. For example, some areas are seeing increases in sales and decreases in prices; while others are experiencing the reverse, so if you are thinking of buying or selling ask your REALTOR® to show you how your property type is fairing in the market overall and more importantly in your community.

“In particular, ask about the ratio of sales compared to the number of active listings for your home type. This is one tool we use to help our clients understand if the market for their home is tilted in favour of buyers or sellers or is in balance. Currently, Fraser Valley’s overall market is balanced leaning towards buyers, however each sub‐market is different.”

RESIDENTIAL DETACHED

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$520,100

151.1

-0.10%

4.10%

11.50%

North Surrey

$532,800

150.1

-0.30%

4.90%

10.90%

Surrey

$550,100

146.7

0.80%

5.50%

10.90%

South Surrey & White Rock

$904,400

165.7

-0.10%

14.40%

24.70%

Langley

$547,200

136.1

1.70%

2.0%

5.30%

Abbots

$430,300

131.7

2.30%

-0.20%

2.10%

TOWNHOUSES

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$329,700

144.0

2.90%

1.90%

9.20%

North Surrey

$262,000

146.0

1.90%

3.0%

4.70%

Surrey

$308,200

134.6

1.20%

0.30%

2.40%

South Surrey & White Rock

$442,200

133.8

1.10%

4.10%

7.60%

Langley

$303,100

135.5

0.20%

2.30%

3.40%

Abbots

$239,400

129.8

1.70%

-5.10%

-2.0%

APARTMENTS

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$182,400

153.1

1.20%

1.50%

1.10%

North Surrey

$190,000

151.9

1.70%

1.80%

-1.60%

Surrey

$199,800

152.4

1.10%

2.80%

0.80%

South Surrey & White Rock

$260,900

132.8

3.40%

3.0%

-1.0%

Langley

$205,200

135.8

0.20%

-3.60%

-4.0%

Abbots

$167,800

141.6

1.20%

3.30%

-4.30%

VANCOUVER, B.C. – April 3, 2012 – Home sales in March trended below the 10-year average in Greater Vancouver while home listing activity outpaced what’s typical for the month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,874 on the Multiple Listing Service® (MLS®) in March 2012. This represents a 12.9 per cent increase compared to the 2,545 sales recorded in February 2012, a decline of 29.6 per cent compared to the 4,080 sales in March 2011 and an 8.4 per cent decline compared to the 3,137 home sales in March 2010.

March sales in Greater Vancouver were the second lowest total for the month in the region since 2002 and were 16.8 per cent below the 10-year sales average for the month.

“Home sellers have been more active than buyers the first few months of the year, but we continue to see a relative balance in the total supply of homes for sale and current demand in the marketplace,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,843 in March 2012. This represents a 5.2 per cent increase compared to February when 5,552 homes were listed and a 14 per cent decline compared to March 2011 when 6,797 homes were listed for sale on the region’s MLS®.

Last month’s new listing total was 4.5 per cent above the 10-year average for listings in Greater Vancouver for March.

At 15,236, the total number of residential property listings on the MLS® increased 8.4 per cent in March compared to last month and increased 16 per cent from this time last year.

“The total number of properties for sale in Greater Vancouver has increased each month since December, which means there’s more selection to choose from as we enter what’s traditionally the busiest season of the year in our market,” Klein said.

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $679,000, up 5.3 per cent compared to March 2011 and an increase of 1.1 per cent compared to February 2012. The benchmark price for all residential properties in the Lower Mainland is $607,700, an increase of 4.8 per cent compared to March 2011.

Sales of detached properties on the MLS® in March 2012 reached 1,183, a decline of 34.1 per cent from the 1,795 detached sales recorded in March 2011, and an 11.5 per cent decrease from the 1,336 units sold in March 2010. The benchmark price for detached properties increased 9.2 per cent from March 2011 to $1,056,400.

Sales of apartment properties reached 1,191 in March 2012, a decline of 26.6 per cent compared to the 1,622 sales in March 2011, and a decrease of 4.9 per cent compared to the 1,252 sales in March 2010.The benchmark price of an apartment property increased 2.2 per cent from March 2011 to $375,100.

Townhome property sales in March 2012 totalled 500, a decline of 24.6 per cent compared to the 663 sales in March 2011, and an 8.9 per cent decrease from the 549 townhome properties sold in March 2010. The benchmark price of a townhome unit increased 0.9 per cent between March 2011 and 2012 to $480,900.

SURREY, BC – The Fraser Valley Real Estate Board (FVREB) processed 1,412 sales on its Multiple Listing Service® (MLS®) in March, a decrease of 22 per cent compared to March of last year, however only 13 per cent less than the 10‐year average of 1,626 sales for same month.

Scott Olson, president of FVREB, says, “It was quieter than usual for March, but still steady with an increase in demand for more affordable properties, in particular detached homes for less than $500,000 and townhomes.

“Compared to last March, every community in Fraser Valley experienced a decrease in the sales of single family detached homes especially those priced at the higher‐end; however Abbotsford, Langley and North Surrey all saw increases in the sale of townhomes.”

Olson adds, “Last year, single family homes represented 63 per cent of our residential market. This March, it dropped to 56 per cent, so we’re seeing demand for more affordable options. This is in contrast to last year when we saw elevated sales of higher‐end homes in areas such as North Delta, South Surrey and White Rock.”

In March 2012 in Fraser Valley, the sale of detached homes with a value greater than half a million dollars decreased by 33 per cent compared to last year, explaining why average prices, which can be skewed by the dollar volume of high or low end sales*, are showing decreases year‐over‐year, while benchmark prices – homes with typical characteristics for the neighbourhood – are showing increases compared to 2011.

The MLS® Home Price Index (MLS® HPI) benchmark price of a detached home in March was $572,700, an increase of 6.8 per cent compared to $536,200 last year. The benchmark price of Fraser Valley townhouses increased by 1.5 per cent in one year, going from $310,300 in March 2011 to $315,000 in March 2012, while the benchmark price of apartments also increased by 1.5 per cent going from $210,600 in March of last year to $204,700 in March 2012.

The number of Fraser Valley properties on the market in March finished at 9,643, an increase of 5 per cent compared to the same month last year although the number of new listings received – 3,066 – represents a 9 per cent decrease compared to March 2011.

The average number of days to sell a detached home was 46 in March 2012, one day faster than last year. It took 49 days on average to sell a townhouse and under two months or 58 days to sell an apartment.

RESIDENTIAL DETACHED

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$521,100

151.3

1.80%

5.80%

13.30%

North Surrey

$535,900

150.6

1.10%

6.70%

12.80%

Surrey

$546,000

145.6

0.80%

6.10%

10.90%

South Surrey & White Rock

$909,100

165.9

0.60%

17.20%

25.90%

Langley

$538,200

133.8

0.0%

3.10%

4.0%

Abbots

$420,300

128.8

0.60%

-1.50%

0.80%

TOWNHOUSES

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$320,300

140.0

3.60%

-1.50%

6.30%

North Surrey

$257,000

143.3

-1.90%

4.30%

4.20%

Surrey

$304,100

133.0

0.20%

0.40%

1.90%

South Surrey & White Rock

$437,400

132.4

-2.70%

4.60%

7.80%

Langley

$302,000

135.2

0.80%

3.30%

3.80%

Abbots

$235,200

127.6

1.30%

-2.80%

-3.40%

APARTMENTS

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$181,300

151.3

2.40%

1.80%

2.30%

North Surrey

$187,000

149.4

-0.90%

2.20%

-1.70%

Surrey

$197,600

150.7

1.50%

2.20%

1.90%

South Surrey & White Rock

$252,500

128.5

3.10%

0.50%

-1.40%

Langley

$204,900

135.5

-0.40%

-4.40%

-3.60%

Abbots

$165,600

139.9

1.80%

3.10%

-4.40%

VANCOUVER, B.C. – March 2, 2012 – Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per cent increase from the 2,473 home sales in February 2010.

February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average.

“With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season,” Rosario Setticasi, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,552 in February 2012. This represents a 2.5 per cent decline compared to February 2011 when 5,693 properties were listed, and a 3.5 per cent decline compared to January 2012 when 5,756 homes were added to the MLS® in Greater Vancouver.

Last month’s new listing count was the second highest February total in Greater Vancouver since 1996.

At 14,055, the total number of residential property listings on the MLS® increased 12 per cent in February compared to last month and increased 17.9 per cent from this time last year.

“Region-wide we’ve seen relative stability in home prices over the last six months, but it’s important to do your homework and consult your REALTOR® because pricing can vary considerably depending on the neighbourhood and property type,” Setticasi said.

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $670,900, up 6 per cent compared to February 2011 and an increase of 0.9 per cent compared to January 2012. The benchmark price for all residential properties in the Lower Mainland is $601,300, an increase of 5.5 per cent compared to February 2011.

Sales of detached properties on the MLS® in February 2012 reached 1,101, a decline of 21.5 per cent from the 1,402 detached sales recorded in February 2011, and a 12 per cent increase from the 983 units sold in February 2010. The benchmark price for detached properties increased 10.5 per cent from February 2011 to $1,042,900.

Sales of apartment properties reached 1,020 in February 2012, a decline of 15.4 per cent compared to the 1,206 sales in February 2011, and a decrease of 5 per cent compared to the 1,074 sales in February 2010. The benchmark price of an apartment property increased 2.8 per cent from February 2011 to $373,300.

Townhome property sales in February 2012 totalled 424, a decline of 13.3 per cent compared to the 489 sales in February 2011, and a 1.9 per cent increase from the 416 townhome properties sold in February 2010. The benchmark price of a townhome unit increased 0.7 per cent between February 2011 and 2012 to $472,800.

SURREY, BC – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,269 sales in February, an increase of 59 per cent compared to January and a 1 per cent decrease compared to the 1,279 sales during February of last year.

In terms of new listings, the Board received 2,846 in February, an increase of 3 per cent compared to January and a 6 per cent decrease compared to the 3,038 listings received last February, taking the total number of active listings to 9,037, an increase of 4 per cent compared to those available in February 2011.

As Board President Scott Olson explains, a seasonal increase in sales is typical for February; however this increase was not as robust as in years past. February’s sales finished at 4 per cent fewer than the 10‐year average for that month.

“Although our market has picked up, it’s still favouring buyers. In terms of our clients, we’re seeing more caution and deliberation when house hunting.

“This could mean using a home inspection as part of negotiations, or asking for extras to be thrown in, or the client walking away if terms are not met. The other side is that selection at certain price points is limited depending on location, so if the buyer finds the right home, they act, which is keeping prices stable.”

The MLS® HPI benchmark price of a ‘typical’ detached home in Fraser Valley in February was, $569,200, an increase of 8.3 per cent compared to $525,400 last year. The benchmark price of Fraser Valley townhouses increased by 2.0 per cent in one year, going from $305,700 in February 2011 to $311,900 in February 2012, while the benchmark price of apartments increased by 0.6 per cent going from $200,200 in February of last year to $201,500 in February 2012.

Olson adds, “We anticipate the new HST transition rules will generate more buying activity of new homes over the coming months and will have a spill‐over effect on the resale market. The majority of new homes in the Fraser Valley fall under the new $850,000 HST rebate threshold and first‐time buyers will be taking advantage of the refundable tax credit bonus of up to $10,000 available until March 31, 2013.

“These changes will improve accessibility in the Fraser Valley, a region already recognized for its affordability.”

RESIDENTIAL DETACHED

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$515,600

149.2

0.90%

5.70%

13.60%

North Surrey

$523,800

146.2

1.10%

2.80%

10.40%

Surrey

$542,900

143.7

0.60%

5.0%

10.90%

South Surrey & White Rock

$910,700

165.0

-0.20%

17.10%

26.80%

Langley

$552,000

138.1

-0.40%

5.20%

8.10%

Abbots

$420,400

127.6

0.40%

-1.60%

0.70%

TOWNHOUSES

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$307,100

135.2

-0.80%

-5.0%

2.80%

North Surrey

$261,800

146.0

1.0%

6.60%

7.70%

Surrey

$304,000

132.7

-1.60%

0.80%

2.50%

South Surrey & White Rock

$468,600

142.9

-1.40%

9.80%

15.70%

Langley

$299,600

134.1

-1.0%

1.50%

3.70%

Abbots

$232,300

126.0

-1.60%

-4.10%

-4.30%

APARTMENTS

Benchmark Price

Index (HPI)

One month change

One year change

Five year change

North Delta

$178,400

147.8

1.20%

-0.90%

2.20%

North Surrey

$188,600

150.7

2.70%

2.90%

0.90%

Surrey

$194,600

148.5

1.20%

0.30%

2.70%

South Surrey & White Rock

$245,100

124.7

-2.50%

-1.70%

-1.50%

Langley

$205,800

136.0

1.50%

-3.80%

-2.50%

Abbots

$163,000

137.5

-0.60%

1.70%

-4.90%