REBGV "Selection broadens and demand eases to kick off 2012 in the Greater Vancouver housing market"

Feb. 7, 2012 | Market Update | By Aaron Rossetti

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $660,600,
up 5.7 per cent compared to January 2011 and down 0.1 per cent compared to December 2011. The MLS® HPI
also tracks home prices across the Lower Mainland.2 The benchmark price for all residential properties in the
Lower Mainland is $593,300, an increase of 5 per cent compared to January 2011.

Sales of detached properties on the MLS® in January 2012 reached 659, a decline of 16.9 per cent from the 793
detached sales recorded in January 2011, and a 6.5 per cent decrease from the 705 units sold in January 2010. The benchmark price for detached properties increased 11.3 per cent from January 2011 to $1,034,700.
Sales of apartment properties reached 657 in January 2012, a decline of 7.9 per cent compared to the 713 sales
in January 2011, and a decrease of 26.3 per cent compared to the 891 sales in January 2010.The benchmark price
of an apartment property increased 2.4 per cent from January 2011 to $371,500.

Attached property sales in January 2012 totalled 261, a decline of 16.6 per cent compared to the 313 sales in
January 2011, and a 20.2 per cent decrease from the 327 attached properties sold in January 2010. The benchmark price of a townhome3 unit declined 0.5 per cent between January 2011 and 2012 to $468,000.

To read the entire REBGV report, click here.