The Greater Vancouver housing market experienced steady activity to begin the summer season.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totaled 2,972 in June 2010, a decline of 30.2% compared to the 4,259 sales in June 2009, a 22.6% increase over June 2008, and a 30% decrease compared with June 2007 and a 5.8% decrease compared to May 2010 when 3,156 sales were recorded.
The MLSLink Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 11.8% to $580,237 in June 2010 from $518,855 in June 2009.
New MLS? listings for detached, attached and apartment properties in Greater Vancouver totaled 5,544 in June 2010. An increase of 3.2% from June 2009 when 5,372 new units were listed and a decline of 21% compared to May 2010 when 7,014 properties were listed on the MLS?.
Total active listings at 17,564 are up 1.2% compared to May 2010 and have increased 32% from June 2009.
Activity in June marked a healthy balance between the near record setting pace of June 2009 and the considerably slower activity witnessed in June 2008, a period of recession as we all know,” said Jake Moldowan, president of the Real Estate Board of Greater Vancouver (REBGV).
According to Moldowan, “we didn’t experience any record-breaking activity in June, but we did see a stable summer market. The number of new listings coming on the market is not as dramatic as we saw over the previous three months and demand remains at a healthy level for this traditionally quieter time of year.”
“There has been less upward pressure on prices in our market the last few months, which has asaid.
Click on the graph to see it in full size
You can also download the whole June 2010 REBGV statistics.