Metro Vancouver Real Estate Statistics
September 2, 2010 Quick Stats | Median Selling Price of Single-Family Homes | Median Selling Price of Condos | Median Selling Price of Townhouses | Benchmark Prices - All PropertiesQuick Stats
August 2010| August 2010 Numbers | July 2010 Numbers | August 2009 Numbers | |
| Total Sales | 2,202 | 2,255 | 3,441 |
| New listings | 3,750 | 5,544 | 4,544 |
| Total listings | 15,421 | 16,431 | 11,937 |
| House Sales | 893 | 908 | 1,367 |
| Condo Sales | 935 | 979 | 1,464 |
| Townhouse Sales | 374 | 368 | 610 |
Greater Vancouver housing activity in August continued its gradual slowdown, but showed a stabilization in price fluctuations. Following the market's high point in April, decreased buying activity put downward pressure on home values. Meanwhile low interest rates, a slowing of new housing inventory and continued foreign interest in Canadian real estate markets mitigated dramatic price correction, helping to maintain favorable buying conditions.
There were 2,202 residential property sales in August, showing a 36% drop from August 2009's 3,441 transactions. To put this a wider context, 2009 was the second highest selling August on record. When this decrease in activity is measured against August 2006's 2,998 sales, 2010 sales represent a 26.6% decline in transactions over three years.
Though prices have steadily gone down since April, they remain higher than last year's benchmarks. The overall Greater Vancouver benchmark in August was $576,597, a 2.4% decrease from May's $590,662, but a 6.9% increase from August 2009's benchmark price of $539,600. This measure combines all single family homes, townhouses and apartments in the region and does not account for individual differences. Refer to the chart to see more detailed analysis based on area and housing type.
Figures courtesy of the Real Estate Board of Greater Vancouver
Median Selling Price of Condos
August 2010Figures courtesy of the Real Estate Board of Greater Vancouver
Median Selling Price of Townhouses
August 2010Figures courtesy of the Real Estate Board of Greater Vancouver
Benchmark Prices - All Properties
August 2010*The benchmark price is based on the tracking of homes with average home features in a given area. It homes with the extreme high or low price tags. For example, a typical townhouse in a given city has a two-car garage, a gas fireplace, 2 bedrooms and a common area with a pool and gym. To arrive at the benchmark price, the prices of these typical features are combined and averaged.
Figures courtesy of the Real Estate Board of Greater Vancouver